Gibraltar BSN and Boost Malaysia Seal First-of-Its-Kind Partnership
First life insurance company to allow premium payments via mobile e-wallet app with attractive Shake Rewards for each successful transaction
Kuala Lumpur, 29 May 2019 – Gibraltar BSN Life Berhad (“Gibraltar BSN”) and Boost Malaysia today announced a strategic partnership that will allow customers to make insurance premium payments from within their Boost e-wallet and get cashback in the form of Shake Rewards.
This is the first partnership of its kind between a life insurance company and a mobile e-wallet provider in Malaysia.
Commenting on the partnership, Rangam Bir, President and Chief Executive Officer of Gibraltar BSN said, “We are very excited about our partnership with Boost as we can now offer our customers an alternative payment method that is cashless, secure and convenient. Our partnership with Boost is part of our concerted efforts under our digital transformation strategy to leverage opportunities that will improve internal processes and enhance our customers’ experience. We are also always on the lookout for mutually beneficial partnerships to increase our customer value proposition and ultimately, help deepen insurance penetration in the country.”
Chief Executive Officer of Axiata Digital Services Sdn Bhd, parent company to Boost, Mohd Khairil Abdullah said, “At Boost, we constantly seek avenues where we can expand product and services offered on the app that solves consumer pain points digitally. We are thrilled to have Gibraltar BSN as our first life insurer partner to be directly integrated into our app and offer an option to pay for insurance premiums on our platform. We believe that this collaboration will give much added value to Gibraltar BSN’s customers who are also Boost users and further drive the cashless agenda for the country in-line with the Malaysian Government’s direction.”
The collaboration between Gibraltar BSN and Boost is set to deepen further as both companies continue to explore opportunities to provide simple, relevant and affordable life insurance to more Malaysians on Boost’s mobile e-wallet.
To pay for Gibraltar BSN premiums from within the Boost app, users need to do a one-time step of adding their policy number from the Bills & Payment tile in the Do More page of the Boost app. Once set up, users simply need to select their Gibraltar BSN policy, enter the payment amount and authorise the payment either via PIN number or biometrics (fingerprint for Android, Face ID for iOS).