GHL Systems Berhad (GHL) and homegrown insurtech company, Senang have extended their strategic partnership to provide Malaysians with easier access to a first-in-ASEAN micro-insurance coverage on non-conventional retail purchases that are not commonly insured.
Delivered seamlessly via GHL’s smart terminals and SenangSikit digital insurance platform, this distribution model enriches the consumer-buying journey through peace-of-mind shopping.
SenangSikit is an innovative Senang proprietary patent pending digital platform that offers offline-to-online insurance, from GHL’s smart payment terminal as opposed to insurance sold by traditional agents or online checkouts.
It is available to customers who make purchases at any participating stores in Malaysia that use GHL POS terminals – accepting cards and e-wallet payments.
For consumers, SenangSikit is a faster, simpler but optional way of obtaining insurance coverage against accidental damages on purchases with just two clicks at checkout.
The insurance plan works like a product warranty providing coverage to a myriad of non-conventional retail products ranging from electronic items, footwear, car accessories, fashion clothing, furniture and more.
The plan is valid for up to a year from date of purchase with a minimum as low as MYR2.50 a day.
Meanwhile, merchants using GHL’s smart terminals, can now offer their customers an improved buying experience with insurance coverage on their purchases. The insurance platform also gives merchants, especially micro, small and medium enterprises (MSMEs) the opportunity to earn referral income – merchants only need to have a GHL terminal without having to invest in extensive training.
GHL Systems Berhad’s CEO of Malaysia, Kevin Lee remarked, “We are excited to be a key enabler of a flourishing fintech ecosystem in Malaysia by bridging the B2B2C segment. I am confident the launch of SenangSikit’s innovative user-friendly platform for microinsurance, offered in collaboration with Senang and its Insurer, The Pacific Insurance Berhad, will further enhance the buying experience of Malaysian consumers, while providing value-added services and capabilities for our clients.”
“With in-store shopping picking up steam and online purchases remaining high, customers continue to feed into consumer trends through retail shopping, further underscoring how important it is for insurtech companies like Senang to offer long-term, digitally-integrated value to our users.
We are glad to be able to simplify the checkout operation by transforming a tedious, staid process into a more efficient and seamless experience for future policyholders through our collaboration with GHL Systems Berhad,” added Sharian Raj, Co-Founder of Senang.
