Tune Protect And CGC To Offer Digital Insurance For MSMEs

Tune Protect Group (“Tune Protect”, “Group”) and Credit Guarantee Corporation Malaysia (“CGC”) have just announced a brand new collaboration.  Jointly, they will be offering digital insurance solutions to micro, small, and medium enterprises (MSMEs).

If you don’t already know, Tune Protect is a vertically integrated insurer offering general and life insurance, reinsurance and insurtech propositions. CGC is a development financial institution that provides guarantees and credit financing to MSMEs.

This collaboration was officiated during a recent signing of a Memorandum of Understanding (MOU) in Petaling Jaya. The partnership seeks to empower MSMEs by providing them with better access to insurance solutions. This initiative will allow them to safeguard their businesses and employees, while nurturing a more robust economic landscape.

Digital insurance designed for MSMEs

Tune Protect will be offering two of its MSMEs digital propositions, SME Business Shield and SME EZY. They are designed to help manage their business risks and protect their employees’ well-being and health. These solutions can provide MSMEs with a more seamless and streamlined insurance journey. It also helps them to overcome barriers of affordability and complexity.

“MSMEs represent a pivotal sector to Malaysia’s economic growth, yet they remain underserved by the industry, leaving them vulnerable to risks in managing their businesses and employees,” emphasised Rohit Nambiar, Group CEO of Tune Protect. 

“With SMEs being a cornerstone of our business, our collaboration with CGC symbolises our commitment to the growth and resilience of this vital community. This partnership amplifies our market footprint, ensuring insurance accessibility and empowering MSMEs with the knowledge to make informed decisions about their insurance coverage. We look forward to the positive impact of the initiatives that will stem from this collaboration,” he added.

Helping MSMEs manage risks with outreach programmes

Via CGC’s outreach programmes, Tune Protect will participate in educational endeavours. These include interactive workshops, training programs, and informative sessions to equip business owners with vital information and perspectives. These educational events will help to arm MSMEs with the knowledge and know-how to secure cost-effective insurance coverage. This will help ensure the protection of their operations, workforce, and physical establishments.

“With the rapidly changing business landscape, MSMEs are constantly exposed to risks and business uncertainties. However, many MSMEs are either unaware or inadequately equipped to manage these risks. Realising this, CGC and Tune Protect have collaborated in a groundbreaking initiative to bolster MSMEs’ awareness and business protection.

“MSMEs will now be able to purchase affordable Tune Protect General and Life insurance plans from our imSME portal, via a self-service customer journey. In addition, CGC is committed to the sustainable development of MSMEs, and this collaboration will enable us to assist entrepreneurs to better cushion unforeseen situations and safeguard their businesses,” said CGC President & Chief Executive Officer, Datuk Mohd Zamree Mohd Ishak.