PolicyStreet, a homegrown insurtech company, has been recognised with the prestigious Fintech Excellence Award in the Financial Inclusivity category at the Singapore Fintech Festival (SFF) 2024. Out of more than 200 regional submissions, PolicyStreet is one of only eight winners and proudly stands as the sole Malaysian company to receive this honour.
Now in its ninth year, the award is jointly hosted by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), with support from PwC Singapore. The award recognises innovative fintech solutions across six distinct corporate categories, as well as three individual FinTech Mentor Awards. These honours celebrate the use of cutting-edge technologies to drive growth, promote financial inclusion, and enhance the delivery of financial services.
“We are incredibly honoured to be recognised for our efforts in financial inclusivity. This award is a testament to our team’s dedication to making insurance more accessible. It inspires us to continue innovating and delivering solutions that make financial security achievable for all,” says Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet.
The Financial Inclusivity Award recognises PolicyStreet for its pioneering insurtech solutions that focus on enhancing financial inclusion and stability for underserved communities. By seamlessly integrating insurance into everyday touch points, the company addresses the protection gap through initiatives like embedded insurance for gig workers and micro insurance policies for underserved segments.
The company’s customer-centric approach is demonstrated by its success in insuring over 200,000 gig workers, serving more than 1,500 SMEs, and offering personal accident coverage, which includes loan protection in the event of unemployment, to over 10,000 Malaysians.
Leveraging its Reinsurer, General Insurer and Takaful Operator license by the Labuan Financial Services Authority (LFSA), along with strategic partnerships with over 40 insurers and takaful providers, PolicyStreet delivers a diverse range of tailored insurance products designed for seamless embedding, addressing the unique needs of its broad customer base.
Additionally, its scalable and cost-effective solutions are designed to integrate seamlessly with partner systems, making it easy for businesses to offer insurance as part of their services, thereby boosting both profitability and customer satisfaction.
PolicyStreet’s commitment to social responsibility and financial inclusion is underscored by its broader mission to improve financial resilience across Malaysia, greater Southeast Asia, and Australia. By continuing to innovate with a focus on impact, the company is setting new standards in the insurtech space, helping millions of people access the protection they deserve.
Source: PolicyStreet
