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Axxess allows to consumer to buy their way to lower insurance premiums

By Chong Jinn Wei - on 1 Apr 2017, 7:10am

Axxess allows to consumer to buy their way to lower insurance premiums

Axxess is the first program by Shieldcard Holdings Sdn Bhd that allows consumers' purchases to be transformed into points that can lower insurance premiums.

(From Left) Dato’ Sri Haji Syed Zainal Abidin Syed Mohamad Tahir, Executive Director, Shieldcard Holdings; Dato’ Sri Idris Jala, CEO of Pemandu Associates; Y.A.M Tunku Dato’ Seri Utama Naquiyuddin Ibni Almarhum Tuanku Ja’afar, Executive Chairman, Shieldcard Holdings; Richard M. Devaraj, CEO, Shieldcard Holdings. <br> Image Source: Axxess

 “Currently, five out of six bumiputras don’t have access to insurance and only 54 percent of Malaysians have any form of insurance coverage. Our mission is to provide security and access to insurance and private hospitals for all Malaysians. In addition, AXXESS will also help the rakyat reduce or settle their motor insurance premiums when regulators allow Malaysian insurers to liberalise motor tariffs in July this year.” said Yang Amat Mulia Tunku Laxamana Tunku Dato' Seri Utama Naquiyuddin Tuanku Ja'afar, Executive Chairman of Shieldcard Holdings.

The unique business model is looking to help more Malaysians get better healthcare and insurance. Only 15 percent of Malaysians are insured under a private healthcare as better insurance are more costly. Axxess is looking to address this disparity by working with a wide range of panel merchants as well as notable insurance agencies like Allianz and Zurich.

By insuring that a continual and consistent number of customers can gain points from many source such as eateries, petrol kiosks, and cinemas; Axxess hopes that they can entice other companies about the potential growth and gains they can achieve.

Consumers will be able to enroll for the Axxess program and begin earning their points beginning May 1.

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