Published on November 11th, 2021 | by Amirul Mukminin0
First Interest-Free Online Car Insurance Purchase Facility Launched
It is now easier than ever to purchase your car insurance online
Purchasing or renewing car insurance online is easy and painless enough but in order to find the most suitable policy, you would have to compare from different insurance providers. This would mean having to browse several websites at the same time and this is when it becomes a hassle.
Well, this will become a thing of the past thanks to ‘Car Insurance Made Easy’, an online insurance purchase facility which is a collaborative effort by e-commerce platform Dreamshop.com.my and insurance tech startup PolicyStreet.com.
This facility is supported by 10 insurance providers across 10 major banks in Malaysia. They are:
- AXA Affin General Insurance Berhad
- Berjaya Sompo Insurance Bhd
- Tune Protect Group Berhad
- Syarikat Takaful Malaysia Am Berhad
- Pacific & Orient Insurance Co. Bhd
- Allianz General Insurance Company (Malaysia) Berhad
- MSIG Insurance Berhad
- RHB Insurance Berhad
- Zurich General Insurance Malaysia Berhad
- Etiqa General Takaful Berhad
- Malayan Banking Bhd
- United Overseas Bank (M) Bhd
- CIMB Bank Bhd
- HSBC Bank Malaysia Bhd
- Hong Leong Bank Bhd
- Public Bank Bhd
- RHB Bank Bhd
- AmBank (M) Bhd
- Standard Chartered Bank
- OCBC Bank (Malaysia) Bhd
What’s more, these banks offer 0% interest-free instalment payment. Customers can also use credit cards from most major banks in Malaysia for a tenure of six to 36 months. The minimum payment for 6 months is RM500 (except for CIMB RM600), while the minimum payment for 12 months is RM1,000 (except for CIMB RM1,200).
Here’s the press release with more information:
Dreamshop.com.my, an e-commerce platform that is home to more than one billion products, together with Insurance Tech Startup PolicyStreet.com have announced a first-in-market collaboration offering 0% interest-free Instalment Payment Plan car insurance with ten (10) insurers across ten (10) major banks in Malaysia. Dreamshop & PolicyStreet ‘Car Insurance Made Easy’ will revolutionise the way car owners in Malaysia compare quotes from insurers, buy, renew and pay for their car insurance, all done digitally in the comforts of their homes.
Rosalie Lin, CEO of DCR Marketing, the parent company of Dreamshop.com.my said, “This online insurance purchase facility with 0% interest-free Instalment Payment Plan is the first of its kind in the market. As an e-commerce platform that seeks to make our customers’ dreams become reality, we constantly seek to realise their dream purchases via Dreamshop. The ‘Car Insurance Made Easy’ collaboration with PolicyStreet is a significant milestone for Dreamshop as it marks the expansion of our offerings into Services. The experience of purchasing and renewing of motor insurance will be revolutionised with the launch of ‘Car Insurance Made Easy’, which can all be done instantaneously and digitally with a 0% Instalment Payment Plan of up to 36 months with ten major banks in Malaysia.”
“At PolicyStreet.com, we strive to provide an easier and more affordable alternative insurance solutions for our customers. We are today working with more than 40 insurance and takaful providers in Malaysia offering the best choices and options for our customers. And now together with Dreamshop, we bring affordability to the next level by allowing our customers to purchase insurance with Instalment Payment Plan. This collaboration is timely as we are recovering from the Covid-19 pandemic and want to help our cash strapped customers by easing their financial burden,” said Yen Ming Lee, CEO of PolicyStreet.com.
The ten (10) comprehensive car insurance policies available on Dreamshop.com.my are AXA Affin General Insurance Berhad, Berjaya Sompo Insurance Bhd, Tune Protect Group Berhad, Syarikat Takaful Malaysia Am Berhad, Pacific & Orient Insurance Co. Bhd, Allianz General Insurance Company (Malaysia) Berhad, MSIG Insurance Berhad, RHB Insurance Berhad, Zurich General Insurance Malaysia Berhad and Etiqa General Takaful Berhad.
The launch of ‘Car Insurance Made Easy’ also enables private vehicle owners to renew and get their insurance cover note within 24 hours on a working day. Furthermore, customers are able to opt for road tax renewal as an add on service at a flat rate via the car insurance platform and the physical copy will be delivered to them, all done in a few clicks.
The ten (10) banks offering 0% interest-free Instalment Payment Plans at Dreamshop.com.my include Malayan Banking Bhd, United Overseas Bank (M) Bhd, CIMB Bank Bhd, HSBC Bank Malaysia Bhd, Hong Leong Bank Bhd, Public Bank Bhd, RHB Bank Bhd, AmBank (M) Bhd, Standard Chartered Bank and OCBC Bank (Malaysia) Bhd.
Dreamshop & PolicyStreet ‘Car Insurance Made Easy’ accepts credit cards from most major banks in Malaysia. The minimum payment for 6 months is RM500 (except for CIMB RM600), while the minimum payment for 12 months is RM1,000 (except for CIMB RM1,200). Please refer to the full list below:
|Bank||Payment Period / Tenure|
|Maybank||6 or 12 months|
|HSBC||6 or 12 months|
|OCBC Bank||6 or 12 months|
|Hong Leong Bank||6 or 12 months|
|Public Bank||6, 12, 24 or 36 months|
|AmBank||6, 12, 24 or 36 months|
|RHB Bank||6, 12, 24 or 36 months|
|CIMB Bank||6 or 12 months|
|UOB Bank||Coming Soon up to 12 months|
|Standard Chartered Bank||6, 12, 24 or 36 months|
Log on to www.dreamshop.com.my for further information on the Dreamshop & PolicyStreet ‘Car Insurance Made Easy’ or to start purchasing your 0% interest-free Instalment Payment Plan today!