Back in May, GXBank and Zurich Malaysia announced a 10-year partnership to co-create digital insurance offerings. Today, the pair has announced what they call Cyber Fraud Protect, a digital insurance plan that promises scam protection from as low as RM1 a month.
What’s interesting with this offering by GXBank and Zurich Malaysia is that it also offers coverage for other banks registered with Bank Negara Malaysia. This includes their cards, ewallets and accounts, but that being said, you’ll have to be a GXBank customer to begin with to be able to subscribe to this. Claims can be done if you lose access to your banking credentials inadvertently – be it online, ewallets or cards – by hitting a fraudulent link, installing suspicious apps or being a hacking victim outright.
Cyber Fraud Protect offered by GXBank and Zurich Malaysia comes in three tiers. First, there’s the Basic plan costs RM1 a month for monthly claim limit of RM 2,500 and an annual limit of RM5,000. Then there’s the Plus plan with a premium of RM2 a month, providing a monthly claim limit of RM5,000 and an annual limit of RM10,000. Finally, the Pro plan costs RM4 per month with claim being RM10,000 and a yearly claim limit of RM20,000.
As part of its introduction, there’s a one-month free trial for the Basic plan of the Cyber Fraud Protect. If you’ve signed up for this and choose not to continue, you’ll have to cancel it manually or you’ll be charged for the subsequent months. You can find out more by hitting the links below.
(Source: GXBank [1], [2], [3,PDF])
