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KUALA
LUMPUR, MALAYSIA – Media OutReach – 22 April
2021 – Malaysians love their furry friends and are increasingly investing in a
burgeoning range of pet-related products such as pet hotels, pet grooming
services, pet tracking/monitoring gadgets and many more. But pets can also be a
heavy responsibility for caring owners, if they get ill or unfortunately suffer
an accident.
This is why
Oyen Sdn Bhd created a digital-first insurance platform – oyen.my – with MSIG Malaysia partnering to underwrite the pet
insurance policy. This new platform allows
caring pet owners to digitally buy and manage medical insurance for their cats
and dogs, quickly and conveniently.
Kevin Hoong,
Oyen Founder & CEO, said, “The COVID-19
pandemic has fuelled an increase in pet ownership around the world. More people
are now working from home and increasingly look to pets to provide
companionship and help manage their stress. Many of these new pet owners are
first-timers and often millennials, who are more digitally savvy.”
In the US, the Animal Medical
Centre has seen a 25%
increase in new pet dogs and cats ownership compared with the previous year
prior to the pandemic. An overwhelming percentage of pet owners (74%) in the UK had also said that their pet had helped
them with their mental health while they were coping with the lockdowns.
“As a busy working adult living on my own, the remote
working arrangement limits my physical interactions, which can feel
demotivating. I am happy to have my cats, Budi and Nadi, as companions to keep
me positive. Oyen provides me with the peace of mind that my cats are always
protected. Major plus point – it took me just a few minutes to apply with Oyen
online!” Aiman Kamal, 32, a banker & recent customer of Oyen Sdn Bhd.
Kevin continued, “Medical costs for pet care can be
surprisingly large and an unexpected and unwelcome expense for many owners
should their pets get ill or suffer an unfortunate accident. That is why we
thought it was the perfect time to launch this digital pet insurance option in
Malaysia. We want to lower the barrier to entry and offer a service which can
provide pet owners, especially first timers, with some reassurance and peace of
mind in these turbulent times.”
“When I first adopted 2 stray cats (Siti Kylie and Nurul Kendall),
I was worried about the financial commitment that would inevitably come with
their health care costs. Once, Siti Kylie fell sick, and I was shocked at the
bill that came! The fact that I can now purchase the coverage online with Oyen
makes the process super convenient, and all of the important details are stated
in their website clearly.” Jehan Omar, 31, IT Project Manager, who is a
customer of Oyen Sdn Bhd.
Some key
features of Oyen’s pet insurance^ include:
- High vet medical coverage in Malaysia – up to RM 8,000 in vet medical
fees, claimable in the event of illness or accidental injury. - Farewell burial/cremation cost up to RM 1,000, and third-party
liability coverage up to RM 50,000. - Reimbursable visits to registered vet clinics in Malaysia.
- Fast cover and seamless claims. Customers can get insurance coverage
within minutes and submit their claims online.
Mr. Chua Seck
Guan, CEO of MSIG Malaysia, said, “We are delighted to have been able to work
with Oyen to develop this unique digital pet insurance offering. We hope that
our position as one of the world’s top ten general insurers, with over 100
years of operation in Malaysia, will provide reassurance and confidence to
Malaysian pet owners looking to use Oyen to cover their pets’ medical
expenses.”
^Terms and conditions apply.
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