MANILA, PHILIPPINES - OCTOBER 2020. Malayan Insurance, the Philippines’ leading non-life insurance company, partners with Moneymax, an online comparison platform and licensed insurance broker. The digital partnership for car insurance is part of the digital transformation plans by Malayan Insurance, accelerated even more by the community quarantine brought about by the COVID-19 pandemic. On the other hand, Malayan Insurance becomes Moneymax’s biggest car insurance partner to date.
Getting the Right Car Insurance Made Easier by Malayan and Moneymax
With a Gross Premium Written (GPW) of more than ₱10 billion in 2019, Malayan continues to be the country’s leader in non-life insurance products. Apart from car insurance, Malayan also offers aviation, engineering, marine, personal accident, surety, and fire insurance. The company takes pride in its ability to settle all “just and valid claims” and has taken steps to automate its claims processing.
With the addition of Malayan on the Moneymax website, both companies will be able to improve their ability to help Filipinos find comprehensive car insurance coverage that fits their needs. Moneymax’s online comparison platform allows users to easily view and compare different car insurance policies as well as other financial products. Greg Aguilar, Moneymax Head of Business Development shares: “We’re incredibly excited to be partnering with Malayan, the leading non-life insurer in the Philippines, to provide greater accessibility to their comprehensive car insurance product. This partnership reaffirms our position in the industry as the leading comparison platform for comprehensive car insurance. We look forward to contributing to Malayan’s growth and to the country’s acceleration online.”
Bringing Top-Notch Customer Service in the Philippines
Malayan and Moneymax’s partnership highlights how affordable and convenient it is to acquire a car insurance policy nowadays. Moneymax’s car insurance services are 100% free of charge. Users can compare, pay, and receive their car insurance policy all online without having to pay additional fees. Apart from this, Moneymax and Malayan offer free claims assistance to all of their car insurance clients. When the need to file a claim arises, clients can simply send an email to Moneymax and the comparison platform’s dedicated claims team will assist the request.
Malayan Insurance, on the other hand, has an online claims notification link on their website. To file a claim, clients just need to fill out an online form and click send to notify the company’s claims department. Indeed, the partnership focuses on offering premium car insurance services that are valued for money.
To learn more about Malayan Insurance, visit www.malayan.com. Also, visit Malayan Insurance's page on the Moneymax website to get a free car insurance quote and to learn more about the partnership. For other updates and information, follow @moneymax.ph on Facebook and Instagram, alongside @moneymaxph on Twitter.
Moneymax is an online comparison platform for financial products such as car insurance, credit cards, and loans. The company aims to drive financial inclusion in the Philippines by helping Filipinos make smarter decisions through financial education and comparison. Driving financial literacy is core to Moneymax’s mission and it does so through its blog and social media channels.
Established in 2014, Moneymax is registered with the Insurance Commission of the Philippines under the name MoneyHero Insurance brokerage. It started by offering car insurance and has branched out to banking products like credit cards and loans. In 2020, Moneymax launched Gadget Protect, the country’s first digital mobile protection product.
CompareAsiaGroup is the parent company of Moneymax that operates in six markets in the Southeast Asian region: Singapore, Hong Kong, Taiwan, Thailand, Malaysia, and the Philippines. In 2019, CompareAsiaGroup welcomed one of its biggest investors, Experian, who led the series B1 funding of $20 million to help deliver the Group’s mission of empowering people to build healthier financial lives.
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About Malayan Insurance
Malayan Insurance is a member of the Yuchengco Group of Companies (YGC), one of the largest conglomerates in the Philippines, with core businesses in financial services, banking, investments, construction, education, energy, and information technology.
Malayan Insurance Co., Inc. is celebrating its 90th year in the Philippine non-life insurance industry, having been established in 1930 by Don Enrique T. Yuchengco. Since 1970, it has been consistently ranked by the Insurance Commission as the number one non-life insurer in terms of gross premiums written, providing guaranteed peace of mind through world-class insurance protection and good customer experiences.
Malayan Insurance is a Philippine non-life insurance company rated by AM Best, a global rating authority for the insurance industry. AM Best has affirmed the rating of Malayan Insurance with Financial Strength Rating: B++ (Good), and Insurer Credit Rating bbb+, providing the Philippine insuring public with world-class insurance protection.
|Car Insurance Company||Maximum Total Sum Insured||Casa Eligibility||Accredited Repair Shops||Overnight Acommodation||Towing Services||Vehicle Removal Crane Services|
|₱5 million||5 years||36||Up to ₱2,000||Up to ₱5,000||₱10,000|
|₱7.5 million||3 years||58||Up to ₱1,000||Up to ₱4,000||Up to ₱8,000|
|₱5 million||10 years||77||Up to ₱2,000||Up to ₱5,000||Up to ₱10,000|
|₱5 million||10 years||365||Up to ₱3,000||Up to ₱5,000||Up to ₱10,000|
New India Assurance
|₱3.5 million||10 years||30||Up to ₱1,500||Up to ₱4,000||Up to ₱10,000|
|₱3 million||10 years||167||N/A||N/A||N/A|
|₱3 million||10 years||N/A||Up to ₱2,000||Up to ₱5,500||Up to ₱15,000|