The initiative is designed to provide a safety net to the vulnerable groups in society, such as underinsured or uninsured individuals, largely in the B40 communities, through a joint effort between TNGD, Allianz General, and PRIHATIN.
Alan Ni, Chief Executive Officer of TNG Digital Sdn. Bhd. shared, “At TNGD, we firmly believe in treating people fairly and creating a tangible, positive impact through our accessible financial products. Our mission is to promote financial inclusion and digital equality for all, including enhancing the welfare of those who need them.
“With the Dana Rahmah initiative, we are leveraging out network of users to crowdsource donations and our technological capabilities to champion Tech 4 Good, by providing insurance coverage to underpriviledged B40 individuals alongside our partners."
Allianz General is aligned with the vision of creating a crucial support system for the community and has generously designed Group Personal Accident Allianz4All, priced at just RM40 per plan, assuring a payout of up to RM30,000 for death or permanent disablement due to accidents. The initiative aims to raise RM2.8 million to provide coverage to 70,000 eligible individuals.
Sazali Rahman, Allianz General’s Deputy Chief Sales Officer said, “Malaysians spend less than 2% of our economy’s Gross Domestic Product (GDP) on non-life insurance. This shows that there is a large gap in protection, particularly in the B40 or underserved segment where the insurance spend would be even lower than average.”
“We are glad to have reached this agreement with TNG Digital and Yayasan Prihatin Nasional. This will directly impact those who are unable to afford insurance.”
Starting November 20, 2023, eWallet users can now participate in Dana Rahmah by donating directly to Yayasan Prihatin Nasional through their eWallet. Application for the insurance will also be available directly via the eWallet from January 2024; the foundation will also assist in screening for eligible individuals.
"We, at PRIHATIN, hope that these joint efforts would result in effective execution of facilitating sponsored insurance among the qualified B40 applicants and if possible future programmes with similar objectives to help more people overcome the adversities of life," said Datuk Abdul Malik Abdullah, Economic & Internationalisation Advisor of Yayasan Prihatin Nasional (PRIHATIN).
For more information about Touch ‘n Go eWallet Dana Rahmah visit https://www.touchngo.com.my/dana-rahmah
Fintech News Malaysia