This latest offering allows consumers to make price comparisons of policies from more than 10 insurance providers within minutes, allowing them to find the best deals in the market.
Customers can renew their insurance and road tax digitally by visiting the CTOS website and filling in their personal as well as car details.
They will receive their e-policy via e-mail within minutes of purchase, while home delivery of roadtax will be available nationwide through MYEG within 5 working days.
Collaboration with PolicyStreet will see CTOS Car Insurance platform offering consumers policies from; Tune Insurance Malaysia, AXA Affin General Insurance, Etiqa General, Takaful, Berjaya Sompo Insurance, Syarikat Takaful Malaysia Am, RHB Insurance, MSIG Insurance, Zurich General Insurance Malaysia, Pacific &, Orient Insurance Co. and Allianz General Insurance Company (Malaysia).
By comparing quotes from a large range of insurers, CTOS said that consumers will be able to find savings of up to RM1,000 from their current deals.
There will also be further discounts on car insurance quotes based on the value of premiums selected.
Additionally, consumers who successfully renew or purchase their insurance via the new platform will be able to get a free MyCTOS Score Report.
Eric Hamburger, Group CEO of CTOS Digital, remarked:
“CTOS Car Insurance reflects how we are focusing our partnership efforts to offer consumers end-end digital solutions in increasingly varied industries. Also, in time, we hope to be able to offer even more value by taking into account credit scores to present consumers better prices, in line with the motor insurance de-tariffication process started by Bank Negara in 2016.”
Wilson Beh, Co-founder at PolicyStreet.com and newly elected President of the Fintech Association of Malaysia (FAOM), stated:
“The strategic partnership between CTOS and an insurance technology company is the first of its kind in Malaysia. We are proud to have partnered with CTOS and believe the collaboration will pave way to more innovative, customised and inclusive insurance protection, leveraging on credit scores and big data for all Malaysians.”
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By Fintech News Malaysia