back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Fi Life and AXA partner to provide online medical insurance

By Edil Corneille

February 11, 2021

  • Fi
  • Malaysia
Share

AXA Affin Insurance, Fi Life, Malaysia, online, digital, insurtech, insuranceKuala Lumpur-based AXA Affin General Insurance (AXA) has partnered with Malaysian life insurance platform – Fi Life. They will jointly offer online medical insurance complete with an e-medical card as well as products such as SmartCare Optimum and SmartCare Optimum Plus.

This online medical insurance will allow 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 was RM250,000.

This was made possible as Fi Life has incorporated AXA’s full medical underwriting process within its online application system. Now all customers have to do is answer questions online on their medical history to get medical insurance and receive 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 prior medical issues also have a chance at acquiring insurance and are not automatically rejected. These customers will be given the opportunity to upload a doctor’s medical report and then will be evaluated to see if they are still eligible to obtain medical insurance.

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 can 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 beneficial for customers who already have a basic medical plan through their employers but want to upgrade to a higher claim limit by supplementing their employer plan with their own individual plan.

Previous Article

February 11, 2021

Mastercard & CleverCards to expand digital card usage across Europe

Read More
Next Article

February 11, 2021

GPS announces support for findexable’s FinTech Diversity Radar

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 12, 2022

Fi

The Weekly Wrap: all you need to know by Friday COB | August 12th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

August 12, 2022

Sapiens extends its partner network to provide customers with InsureTech innovation

Read More

August 12, 2022

PayGround launches Payment Financing Solution on its platform

Read More

August 08, 2022

Transact and GradGuard partner to provide financial insurance to students

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022