AIG Malaysia makes a landmark deal to sell its premiums on Lazada

Leading e-commerce platform, Lazada Malaysia, today announced a partnership with AIG Malaysia, subsidiary of American International Group, to provide a more convenient, accessible, and seamless purchase of insurance for Malaysians on its platform.

Customers who shop on Lazada Malaysia are now able to shop for the ‘freestanding’ AIG shopfront to purchase Travel, Snatch Theft and Personal Accident (Active Lifestyle Care) coverage.

These premiums will be priced between RM8 to RM115.

According to the company’s release Malaysia’s general insurance penetration level, measured in terms of premiums as a share of GDP, stands at less than 2 per cent as compared to 3-4 per cent in more developed markets 1[1].

With that insight the partnership seeks to continue expanding the reach and penetration of insurance in the country, further generating more awareness among consumers.

“Lazada not only presents a compelling retail presence, but also offers a strong online platform that enables AIG Malaysia to offer the relevant products to the right customers at the right time, and for the right reasons. With some 50 per cent of Lazada’s customers aged between 26 and 35 years – well within AIG’s target customer segments – the partnership will provide us with the opportunity to better understand our customers’ needs and to continuously match them with the right insurance solutions,” said Antony Lee, AIG Malaysia’s Chief Executive Officer.

“We continuously invest to provide services that create a more engaging customer experience, and ultimately, better serve the needs of Malaysians. This collaboration is timely and helps prepare Malaysians to take a better charge of their future,” Hans-Peter Ressel, Chief Executive Officer of Lazada Malaysia added.