FWD Insurance and BSN have launched Qaseh Bakti Plus, a microinsurance product tailored for underserved communities in Malaysia, offering income replacement in case of hospitalization. This initiative aims to promote financial literacy and inclusion while providing affordable insurance solutions to over three million B40 households.
14 May 2024 – FWD Insurance Berhad (“FWD Insurance”) has collaborated with Bank Simpanan Nasional (“BSN”) to introduce Qaseh Bakti Plus, a microinsurance product aimed at providing affordable and accessible solutions to underserved communities in Malaysia. Catering to the needs of over three million B40 households in the country, Qaseh Bakti Plus offers income replacement in the event of unforeseen hospitalization, crafted meticulously through customer data analysis and direct feedback. This microinsurance plan is part of Bank Negara Malaysia’s Perlindungan Tenang programme.
Speaking at the official launch ceremony, Aman Chowla, Chief Executive Officer of FWD Insurance, emphasized the company’s vision of changing people’s perceptions of insurance by promoting financial literacy and inclusion. He highlighted that financial literacy and inclusion are essential pillars of empowerment and equality, aiming to foster resilience and prosperity while breaking down barriers and building a more inclusive society. Aman reiterated FWD Insurance’s commitment to driving positive change in the nation.
Jay Khairil, Chief Executive of BSN, expressed excitement about leveraging their extensive nationwide network to provide insurance solutions tailored to the needs of the people, while also advancing financial literacy. He emphasized BSN’s commitment to fostering meaningful relationships with customers and ensuring that their vision of “No Malaysian Left Behind” remains unwavering.
Aman highlighted that Qaseh Bakti Plus aims to ensure insurance affordability and accessibility through a customer-centric approach. The product offers a choice of three plans for individuals aged between 18 to 55 years old, with premiums starting from as low as RM0.17 per day. It provides comprehensive coverage, including daily hospital cash benefits and death benefits, with double benefits in case of accidental causes.
Qaseh Bakti Plus is easily accessible at BSN branches nationwide, with a simple sign-up process and immediate policy delivery via email. Customers who enroll before December 31, 2024, stand a chance to win exciting prizes, including a brand new Perodua Ativa and iPhone 15, through year-end and quarterly lucky draws.
To further boost financial literacy and inclusivity, FWD and BSN have signed a memorandum of understanding to implement financial literacy programs for selected urban and rural schools nationwide. This initiative underscores both companies’ dedication to a common mission and enhances ongoing efforts to enhance financial literacy among Malaysians.
