myTukar, PolicyStreet to Offer Insurance to Pre-Owned Car Owners

  • myTukar’s customers can now receive insurance quotations instantly
  • Insurance providers onboard include Allianz, AXA Affin, RHB Insurance

VEHICLE selling platform myTukar Sdn Bhd has announced a collaboration with insurtech startup, wherein myTukar’s wholesale and retail customers can now receive instant insurance quotations.

“We are extremely pleased to have found a like-minded partner to collaborate with us in our quest to spearhead the transformation of the pre-owned car industry,” said Fong Hon Sum, chief executive officer (CEO) of myTukar in a statement.

“ was born out of a need for change in the traditional century-old insurance industry, and plans to democratise insurance by making it simple, easy and affordable – which is very much in line with myTukar’s mission of making pre-owned car buying and selling simple, convenient, efficient and transparent.”

Through the collaboration, myTukar’s wholesale and retail customers can now receive insurance quotations instantly with access to most major insurance providers on one platform. The services support both new car insurance as well as renewals.

The company said myTukar’s customers can access the car insurance that best suits them in three steps: firstly by putting down their car details, which generates instant quotes; secondly by comparing the price from a list of insurance providers; an finally making their payment.

Some of the insurance providers that have come onboard with myTukar via include Allianz General Insurance Company Berhad, AXA Affin General Insurance Berhad, Berjaya Sompo Insurance Berhad, Pacific and Orient Insurance Co. Berhad, RHB Insurance Berhad and Syarikat Tafakul Malaysia Am Berhad.

myTukar said that this list is not exhaustive as more insurance providers are in the process of coming onboard as well. These insurance providers cover basic insurance add-ons and agreed value, it added.

“We are excited to partner myTukar to deliver the transformation that myTukar is looking for in enabling seamless motor insurance purchase for all of myTukar’s customers. We look forward to enhancing this with more insurance solutions in the near future,” said Lee Yen Ming, CEO of PolicyStreet.

PolicyStreet is licensed by Labuan Financial Services Authority, Bank Negara Malaysia and Australian Securities & Investments Commission.

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