DearTime launches as a life insurer in the Bank Negara's sandbox

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DearTime, a life insurer in the BNM_official Fintech Regulatory Sandbox aims to close the insurance penetration gap in Malaysia by offering affordable, simple & accessible insurance through its mobileapp insurtech startup

Aims to close the gap by offering affordable, accessible insuranceDearTime, a life insurer in the Bank Negara Malaysia Fintech Regulatory Sandbox, has launched its services.

As a result, Ng launched an app to close the insurance penetration gap in Malaysia by offering affordable, simple, and accessible insurance through fully digital means. According to Ng, DearTime’s fully digital business model allows customers to buy, edit, and claim insurance directly from its mobile app.

Ng said there is no better time to launch a digital life insurance company as mobile and Internet usage across all groups of Malaysians is at its highest. These are pure insurance products prioritised for protection only, without confusing terminologies and unnecessary frills such as savings and investments, the firm said.

It said that through this initiative, customers can allocate up to 10% of their premiums to the DearTime Charity Fund.

 

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