KUALA LUMPUR, Feb 10 (Bernama) -- AXA Affin General Insurance Berhad (AXA) partners with Fi Life  ̶  Malaysia’s first online life insurance platform, to offer an online medical insurance complete with an e-medical card. The products offered are SmartCare Optimum and SmartCare Optimum Plus.
 
This is the first online medical insurance in Malaysia that allows for substantial annual limits for medical claims of RM100,000 all the way up to RM2.1 million. Prior to this launch, the highest annual limit for medical insurance that can be bought online is RM250,000.

These high annual limits are possible because Fi Life incorporates AXA’s full medical underwriting process within its online application system. All customers have to do is to answer online questions on their medical history to get medical insurance and an e-medical card immediately.

Emmanuel Nivet, Chief Executive Officer of AXA said, “At AXA, we are committed to be a trusted partner to our customers. As one of the largest global insurers, we are constantly innovating our products and services to deliver fast, secure and simple online insurance solutions that cater to customers’ needs. We are delighted to have Fi Life with us in building an efficient online ecosystem, and we truly believe our synergy in launching Malaysia’s 1st online medical insurance is an innovative step forward to ensure customers’ experience is made more convenient and accessible.”

Unlike other online medical insurance, customers with certain prior medical issues are not automatically rejected. Customers will be asked for details of their medical issue and given the opportunity to upload their doctor’s or other medical report to see if they can still obtain medical insurance. In these situations, their cases will be considered by AXA underwriters on an individual basis. If all uploaded documents are complete, AXA underwriters will be able to make a decision within 5 days.

In addition to a straightforward acceptance or decline, the Fi Life online underwriting system is flexible enough to give an acceptance with exclusions, or an acceptance with a premium loading.

Further, in relation specifically to the online SmartCare Optimum plans, customers are able to opt to pay for the first RM7,500, RM10,000, RM15,000 or RM20,000 of medical expenses in return for a 25% to 50% discount on premiums. These plans are suitable for customers who already have a basic medical plan through their employers but wish to enjoy peace of mind of a higher claim limit by supplementing their employer plan with their own individual plan.

With a 41% penetration rate of medical insurance plans in Malaysia in 2019, Fi Life believes that medical insurance is essential to safeguard Malaysians against unexpected hospitalisation and surgery expenses. Such expenses from private hospitals have been increasing at a runaway rate of 17% per year. The Fi Life online medical insurance and e-medical card underwritten by AXA is the first important step to ensure that Malaysians are protected in such unforeseen circumstances.

Customers can visit www.fi.life to compare, select and purchase the plan that fits their needs and budget. A screenshot of the comparison page is displayed in Figure 1.

A summary of the benefits of the online medical plans offered by Fi Life and AXA are summarised in Figure 2.

Figure 1: Screenshot of page comparing different medical plans available on www.fi.life 

Click here

Figure 2: Summary of benefits of online medical plans offered on www.fi.life

Click here

SOURCE : AXA Affin General Insurance Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
AXA Affin General Insurance contacts                        
Name: Sheena Ho                
Tel: +603 2170 8548/012 309 1193
Email : sheena.ho@axa.com.my
 
Name: Allison Lee              
Tel: +603 2170 8259/016 228 2916
Email : allison.lee@axa.com.my

Corporate Responsibility strategy:
axa.com/en/about-us/strategy-commitments
SRI ratings:
axa.com/en/investor/sri-ratings-ethical-indexes

--BERNAMA