SHAH ALAM: Financial planning firm VKA Wealth Planners Sdn Bhd has introduced easycover.my, an insurtech platform designed to revolutionise the way small and medium enterprises (SMEs) to obtain and enhance employee benefits insurance solutions.
The easycover.my app is a pioneering digital platform that provides an online insurance management solution for employee benefits, serving businesses with as few as three employees.
VKA Financial Group founder and group managing director Datuk Javern Lim saidstated that the platform's launch was expected anticipated to expand access to employee benefits insurance forwithin the country Malaysia's SME sector, thereby boosting financial security and fostering business resilience.
"This innovative approach is designed to serve market segments that have previously been underserved or unserved, contributing to the economic stability of these enterprises," said Lim.
"In Malaysia, more than 90 per cent of companies are SMEssmall and micro entrepreneurs, a segment largely underserved by traditional insurance models, especially in terms of employee benefits.
"The easycover.my app is specifically designed to dismantle traditional barriers to insurance access, catering to SMEs that have often been underserved due to restrictions on employee numbers." he added.
Lim saidexplained that the inspiration for the app initiative was directly inspiredfluenced by Bank Negara Malaysia's (BNM) Financial Sector Blueprint 2022–2026, which aims to promote the digitalisation of the financial sector and enhance the dynamism of the insurance and takaful sectors.
It reflects our commitment to contributing long-term social and economic benefits for the country by fostering inclusion, igniting innovative competition and enhancing operational efficiency." he said.
He saidmentioned that by reducing the eligibility requirement to just three employees, the app allows more businesses to secure comprehensive employee benefits insurance coverage, which thereby improved financial protection and supporting business sustainability.
Another key features of the app isincluded the automatic generation of multiple quotations, simplifying the decision-making process by providing several insurance quotes automatically.
The app also delivers insurance management through its platform, which integrates all insurance-related processes.
Additionally, the easycover.my app boosts human resources (HR) capabilities by offering value-added solutions for managing benefits, leaves and claims.
Businesses also benefit from expert-guided insurance solutions, receiving tailored advice to ensure they have the necessary coverage for the specific needs.
In addition to its primary features, the app provides four additional services, including motor insurance with a variety of car insurance options at different price points.
It also includes eWill services, which streamline estate planning with an intuitive online tool for drafting wills, allowing users to efficiently secure their financial legacies.
The Private Retirement Scheme (PRS) enrolment simplifies the process of long-term savings, addressing diverse financial planning requirements.
Cash management enhances business earnings through strategic investments in money market and short-duration bond funds, achieving a balance of safety and returns that supports secure financial growth for businesses of all sizes.
Also Present at the launch event was Datuk Yeow Wah Chin, a director of honoured by the presence of Universiti Kebangsaan Malaysia National University of Malaysia and the the Malaysian Institute of Integrity, Institute of Malaysia as well as board director and international director for Lions Clubs International for the year 2024-2026. Also present was special guest SME Association of Malaysia national secretary-general Chin Chee Seong.
Since 2003, VKA Wealth Planners has been a financial planning firm licensed under the Capital Markets and Services Act 2007 by the Securities Commission.
VKA Wealth Planners is also approved by Bank Negara Malaysia under the Financial Services Act 2013 and the Islamic Financial Services Act 2013 to offer financial advisory, Islamic financial advisory and financial planning services.
