PolicyStreet – Insurtech Innovation Award 2024

1. Private & Confidential
Introduction to
PolicyStreet

2. Executive
Summary
1. PolicyStreet is a full-stack insurtech company specialising in developing Purposeful and
Simple insurance solutions for businesses and consumers, especially the underserved
and underinsured.
2. In bridging the protection gap and supporting the gig and digital economy stakeholders
in the region, PolicyStreet developed innovative insurance products such as:
• CARSOME Care+: an embedded Personal Accident Plan with a Loan Protection
feature
• Vircle Club Protect: an embedded Personal Accident plan with an Education
Allowance feature
• Embedded on-the-job coverage for gig workers, bite-sized embedded Damage
Protection Plans for online purchases, and customised Group Insurance, among
others.
3. The insurance coverages are complemented with PolicyStreet’s technology
development capabilities, namely the Gig Workers Claims Platform, Digital HR Portal,
Damage Protection Claims Platform, and Direct Representatives Platform.

3. About PolicyStreet
PolicyStreet is an insurance technology group of companies providing cutting-
edge digital insurance solutions to businesses and consumers in Southeast
Asia and Australia.
PolicyStreet works directly with over 40 life, general, and takaful providers
globally to offer a comprehensive range of products and services, which
includes but is not limited to embedded insurance, customised employee
benefits, financial advisory and aggregation of insurance, as well as the
development of digital solutions to make insurance purposeful & simple for
businesses and consumers.
As a licensed Reinsurer and General Insurer by the Labuan Financial
Services Authority (LFSA), an approved Financial Adviser and Islamic
Financial Adviser by Bank Negara Malaysia (BNM), and a licensee of
the Australian Financial Services License by the Australian Securities and
Investments Commission (ASIC), PolicyStreet can underwrite, customise
policies, and provide unbiased advice to its clients and partners worldwide.
PolicyStreet is backed by the Malaysian sovereign wealth fund, Khazanah
Nasional Berhad, and serves over 5 million customers with over US$ 10 billion
in sum insured. In 2024, PolicyStreet was recognised as "Fintech of the Year"
at The Asset's Triple A Digital Awards and ranked as the second-highest
Malaysian company in the "High-Growth Companies in Asia Pacific 2024" list
by Statista and The Financial Times.
From left to right: Winnie Chua, Co-founder & Chief Product Officer ; Lee
Yen Ming, Co-founder & Chief Executive Officer ; Wilson Beh, Co-
founder and Chief Operating Officer

4. PolicyStreet Today

7. Collaboration with Leading Industry Names for Embedded
Protection
Note: Click on the image to read more

8. Impact Metrics
Gig Workers SMEs Malaysians
More than 200,000 delivery riders are
protected by PolicyStreet’s Gig
Workers’ Protection.
Approximately RM20 billion in sum
insured, with an average of RM100,000
sum insured per gig worker.
More than 200 SMEs enjoy PolicyStreet’s
customised Group Insurance Plans with
access to Digital HR Portal for simplified
insurance management.
Approximately 30,000 Malaysians are
insured through customised Group
Insurance Plans for SMEs.
Over 10,000 Malaysians enjoy embedded personal
accident coverage with loan protection with
CARSOME Capital Hire Purchase Loans.
More than 12 million online purchases are insured
annually through the Damage Protection Plan in
partnership with Shopee Malaysia.

9. Customer Testimonials
Gig Workers Malaysians
“When I contracted COVID-19, the first thing that came
to mind was how it may affect my livelihood and my
family. I understood that foodpanda offers insurance
coverage for partners affected by COVID-19, but I was
concerned that the reimbursement process would take
too long and jeopardise my family’s financial situation.
I’m glad that there is a new digital solution to expedite
the claims process for gig workers,” says foodpanda
delivery partner, Raudin Rashid Wan Idris.
“After getting into an accident and breaking my
collarbone, I’ve found that this new digital solution will
make the claim process both seamless and easy. I
appreciate foodpanda and PolicyStreet’s efforts to care
for us delivery partners’ wellbeing, and I’m looking
forward to improved insurance operations and services
with the upcoming Gig Workers’ Claims Portal,” adds
foodpanda delivery partner, Muhammad Amir Bin
Mohamad Asri.

10. Thank You
Sabrina Chong | +6012 206 6375 | sabrina@policystreet.com
Feel free to reach out to us if you have any questions