Insurtech: Malaysia’s myTukar, a Car Purchasing, Selling Service Partners PolicyStreet.com to Offer Insurance for Pre-Owned Cars

Malaysia-based myTukar, a pre-owned car purchasing and selling platform, has teamed up with Insurtech company PolicyStreet.com in order to provide insurance policies for pre-owned automobile purchases.

Through the partnership, myTukar’s wholesale and retail clients may get timely insurance quotations along with convenient access to most of the established insurance services providers via its platform. The services support new car insurance and renewals as well.

myTukar is now the official partner of PolicyStreet.com and is also one of the first online automobile retailers to offer insurance coverage from several different firms.

Some of the insurance providers that have onboarded with myTukar through PolicyStreet reportedly include Allianz General Insurance Company, AXA Affin General Insurance, Berjaya Sompo Insurance, Pacific and Orient Insurance Co., RHB Insurance, Syarikat Tafakul Malaysia Am, among several others.

Fong Hon Sum, CEO at myTukar, stated:

“We are extremely pleased to have found a like-minded partner to collaborate with us in our quest to spearhead the transformation of the pre-owned car industry. PolicyStreet.com was born out of a need for change in the traditional century-old insurance industry, and aims to democratise insurance by making it Simple, Easy and Affordable – which is very much in line with myTukar’s mission of making pre-owned car buying and selling simple, convenient, efficient and transparent.”

Yen Ming Lee, CEO at PolicyStreet.com, remarked:

“We are excited to be partnering with myTukar to deliver the transformation that myTukar is looking for in enabling seamless motor insurance purchase for all of myTukar’s customers. We do this by making insurance simple, easy and affordable.”

Polisea Pte. Ltd. is the holding company of PolicyStreet, an insurance tech company, advancing insurance and healthcare through innovative technologies.

The company says its goal is to “empower people to be sufficiently covered by insurance policies by making them simple, easy and accessible to people from all walks of life.”​

The firm’s management notes:

“PolicyStreet aims to democratize the insurance industry by making insurance sexy, fun and appealing to the millennials of today. We curate new products that fits the lifestyle needs because we believe existing products are just not enough. We work in an inclusive ecosystem where we enable customers to buy the policies direct from us whilst ensuring the best-in-class service levels.”

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