Boost Expands its Features to include Comprehensive Suite of Micro-Insurance/Takaful Coverage for Users and SME Business Owners
Boost introduced affordable and accessible micro-insurance/takaful coverage under ‘Boost Protect’.
Kuala Lumpur, 3 September 2020 – To assist Malaysians on the road to recovery and continue safeguarding their health and well-being or even ensuring that daily essentials are protected, homegrown e-wallet Boost has introduced a comprehensive suite of affordable and accessible micro-insurance/takaful coverage under ‘Boost Protect’. This new feature available under the ‘Insurance’ tile in the app marks Boost’s foray into expanding the use of its e-wallet beyond just payments and into digital financial services.
Exclusive to Boost users, ‘Boost Protect’ offers a variety of coverages underwritten by Great Eastern General Insurance (Malaysia) Berhad, Great Eastern Life Assurance (Malaysia) Berhad and Great Eastern Takaful Berhad and powered by Aspirasi. These can be easily viewed and purchased on the app. Among the seven types of coverage currently offered under Boost Protect include:
- BillProtect –with a one-time payment of RM30 for 6 months’ coverage, get reimbursed for eligible utility bills up to RM1,000 if hospitalised for more than 4 days due to an accident or a lump sum payout in the event of accidental permanent disablement or death.
- CardProtect – credit card bills protection against unexpected events that cause disability or demise, for just RM10 for 6 months’ coverage.
- HospiCash2– with a one-time payment of RM60 for 6 months’ coverage, users will receive RM 100 daily cash allowance to ease the financial burden during hospitalisation.
- Protect Super62 – affordable 6 months’ coverage for RM39 in the event of critical illnesses or accidental death.
- ProtectActive – protection for sports and fitness activity-related accidents at just RM6.25 a month.
- ScreenProtect1 – get reimbursed for smartphone screen repair or replacement cost due to accidental damage with RM100 for 1-year coverage.
- SME OwnerProtect1– with a one-time payment of RM45 for 1-year coverage, SME Business Owners will be reimbursed for emergency expenses relief up to RM1,000 if hospitalised for more than 4 days due to an accident or a lump sum payout in the event of accidental permanent disablement or death.
As a value-added benefit, every Boost Protect insurance/takaful package comes with COVID-19 Assist, an additional financial assistance program in the event of being infected with the COVID-19, Boost Protect insurance/takaful holders will receive RM200 daily hospitalisation cash assistance upon diagnosis up to 60 days and RM20,000 financial assistance upon death due to the COVID-19.
“Following the pandemic, Malaysians are placing high importance on protecting themselves for the future as awareness of health and overall wellbeing has been heightened. We endeavour to #KitaBoostKita by providing users protection and peace of mind while they continue to live life or do business amid the pandemic at a very low cost where users can now enjoy bite-sized protection for extra-large coverage that caters to their various needs. The provision of micro-insurance/takaful coverage is just the start of what we plan to do with digital financial services through our e-wallet platform, we have bigger plans to further expand on this service over the next couple of years,” said Mohd Khairil Abdullah, CEO of Boost.
Users can conveniently browse to find out more information on the coverage plans and seamlessly purchase their preferred protection plan via the ‘Insurance’ tile in just a few clicks.
Boost is an official partner of three Government PENJANA initiatives – ePENJANA, MSME E-Commerce Campaign and Shop Malaysia Online, and has an aim to contribute towards a collective effort in rebuilding the economy, especially through enabling MSME merchants rebound and recover by helping bring their businesses online.
As an added incentive, Boost will #KasiTambah a RM5 cashback on Great Eastern insurance plans in its Partner Wallet to kickstart users’ protection journey when users claim and spend using the RM50 ePENJANA credit. This is part of the e-wallet’s larger #KasiTambah campaign that is also carried out in the MSME E-Commerce campaign and Shop Malaysia Online initiative.
 Powered by Aspirasi and underwritten by Great Eastern General Insurance (Malaysia) Berhad
 Powered by Aspirasi and underwritten by Great Eastern Life Assurance (Malaysia) Berhad
 Powered by Aspirasi and underwritten by Great Eastern Takaful Berhad