U Mobile has entered into an agreement with insurance provider Sun Life to offer life microinsurance to U Mobile subscribers. The insurance packages will be available from October 2017 at low monthly premiums.
This is the first time a Malaysian telco has gone into a partnership with an insurance company to offer insurance plans to subscribers. When the service goes live, it will be available to both prepaid and postpaid subscribers, which will benefit the 5 million or so subscriber base. The partnership will see U Mobile offering life microinsurance plans at low monthly premiums.
On top of that, U Mobile subscribers will also be able to apply, subscribe, and manage their life insurance coverage entirely via their smartphones.
Interestingly, CEO Wong Heang Tuck stated that this is just one of the many other services the telco will be launching this year. This follows the company’s recent unveiling of its “Unlimited Ideas” motto, as it works towards providing meaningful services to Malaysians above and beyond that of a telco.
Currently, U Mobile is still working the final details of the insurance plans it will be offering, but more details should be provided closer to the launch in October.