The Life Insurance Association of Malaysia (LIAM) and Malaysian Digital Economy Corporation (MDEC) recently signed a Memorandum of Understanding to collaborate and cooperate as strategic partners for a mutually beneficial and synergistic relationship for Malaysian freelancers in the country.
LIAM and MDEC have agreed to collaborate as strategic partners for the following:
1. Safety net (insurance coverage) for Malaysian freelancers via the "Perlindungan Tenang - Mampu & Mudah" initiative.
2. LIAM member companies as potential employers under this eGlobal Freelancer Programme
3. Malaysian freelancers as potential Perlindungan Tenang representatives (Wakil Tenang) to sell/promote Perlindungan Tenang products to the Malaysian consumers.
A Memorandum Of Understanding (MOU) exchange ceremony took place in conjunction with the Sharing Economy Conference Penang (SECOND/PEN) organised by MDEC on 6 September 2018 at the Wembley- St Giles Hotel in Georgetown, Penang. LIAM was represented by its President, Ms Anusha Thavarajah while MDEC was represented by its Director, Sharing Economy ecosystem Division (SEED), En Darzy Norhalim. The MOU Exchange ceremony was witnessed by Chief Minister of Penang, YAB Tuan Chow Kon Yeow, Deputy Minister of Communications and Multimedia, YB Tuan Eddin Syazlee Shith and Chief Operating Officer of MDEC, YBhg Dato’ Ng Wan Peng.
According to LIAM President, Ms Anusha Thavarajah, “It has been LIAM’s aspiration to provide the best-in-value insurance products for MDEC and its targeted communities. The Perlindungan Tenang initiative fits this aspiration as we offer six affordable, accessible and easy to understand protection plans for the Malaysian freelancers.”
“The sharing economy initiative with MDEC will also open up more opportunities for the Malaysian freelancers to deliver digital and non-digital works to LIAM member companies and stakeholders from time to time. Hence, this collaboration will bring mutual benefits to LIAM and MDEC,” she added.
Meanwhile, the Perlindungan Tenang products were developed by six life insurers to enhance financial inclusion of underserved segments in Malaysia, particularly the bottom 40% of household (B40). Malaysians can now purchase affordable life insurance plan with premiums as low as RM33 per annum for protection from RM10,000 to RM30,000.
These plans will benefit some 15,000 freelancers who do not have any form of safety net like EPF and SOCSO.
Through this collaboration, LIAM would also encourage Malaysian freelancers to be potential Perlindungan Tenang’s representatives (Wakil Tenang) to sell/promote Perlindungan Tenang products to other Malaysians.
All products under the Perlindungan Tenang shall adhere to the basic principles and features approved by Bank Negara Malaysia and shall carry the Perlindungan Tenang, Mampu & Mudah
logo to enable the public to recognise these products.
The Perlindungan Tenang is seen as the answer for insurance protection for all Malaysians, which is easily accessible and fits their needs. Ultimately, it would help to fulfil the nation’s aspiration of reducing the protection gaps and achieving the financial inclusion agenda.
Members of the public who wish to find out more on Perlindungan Tenang products, kindly visit www.liam.org.my