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Insurtech Prudential Partners Boost for Digital Payments

Prudential, a savings and insurtech platform has partnered with Boost, the leading cashless e-wallet app in Malaysia to enable e-wallet payments for Prudential’s customers.

Through this partnership, the insurer’s customers can now opt to use Boost as a payment option on Prudential’s website.

This payment option is made available for premium payments of both Prudential’s conventional insurance and takaful products.

For now users will still need to manually make the payment every month but Khairil Abdullah, CEO, Boost, revealed that they are looking to roll out a recurring payments feature by next month.

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According to Prudential’s CEO, Gan Leong Hin, shared that 25% to 30% of Prudential’s customer base still pays for their premium using cash and cheques, in providing an additional payment option Gan hopes that it will convert more users to adopt the cashless option.

The parties involved further shared that they are looking to take this partnership beyond just payments. In the coming months, they are looking to enable Prudential’s digital health app Pulse within Boost’s app ecosystem with the goal of educating more consumers to be healthier and exposing them to the importance of being insured.