KUALA LUMPUR: Zurich General Insurance Malaysia Berhad has announced a collaboration with Finology Sdn Bhd to help make road tax and insurance purchases easier.
"With economic activities starting to resume, we understand the importance of road tax renewal, as well as motor insurance so Malaysians can commute to work with peace of mind as the renewal exemption period ends," said Zurich General Insurance chief executive officer Junior Cho.
Through Finology's affiliate partner PayLink Global (Payquik), road goers will be able to access Payquik's 250 kiosks nationwide - the first of its kind in Malaysia.
The kiosks - available 24 hours a day, are generally located in offices of utility companies, shopping malls and government buildings for better convenience.
This way, convenience has now been factored in to help Malaysians find a quick and convenient solution when renewing their road tax and motor vehicle or motorcycle insurance.
Cho added that the three-way collaboration with Finology and Payquik will help widen the access for drivers and riders to obtain the service and protection they need in a fast and easy manner.
According to a 2018 statistics from the Road Transport Department (JPJ), there are about 29 million registered vehicles in Malaysia - of which only 19 million vehicles renew its road tax every year and about 95% of those with expired road tax are motorcycles.
"The reality is that there are still customers who prefer to pay with cash or who do not own a credit card. This means that these people do not have sufficient access to the necessary financial services online," said Finology managing director Jared Lim.
Lim added that enabling motor insurance purchasing and road tax renewal through kiosks is a great alternative to paying online or over the counter.
The latest collaboration is a joint effort to promote financial inclusion and offer Malaysians comprehensive coverage while on the road.
In 2019, Zurich and Finology collaborated to offer customers end-to-end online insurance quotation and purchase services via Finology’s platform loanstreet.com.my.
