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Malaysian Home Insurance

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Consumers in Malaysia prefer to purchase home insurance from their bank. Banks have a strong bancassurance network in the country, and are the most common channel to purchase insurance. Other options include insurers and insurance brokers. However, consumers of all ages still prefer face-to-face interaction when purchasing insurance. Insurers are taking note of this trend, and are developing more digital solutions and products to meet consumers’ needs.

The cost of medical care in Malaysia is heavily subsidised by the government, with the government spending 4.4% of its GDP on health care. Patients in Malaysia pay a small fee at each medical appointment, but that is just a portion of what the government covers. Even with a high premium, consumers may not be able to afford a high-quality medical care if the network of hospitals they visit is not accessible.

The market is competitive, with insurers offering a range of policies to suit different needs. Cigna Global Medical plan, for example, offers a flexible plan design that allows clients to choose modules based on their needs. Another example is the GeoBlue Xplorer plan, which covers US citizens and offers premium benefits and a worldwide network of doctors. William Russell, another good choice, offers good benefits and excellent service.

Expatriates in Malaysia should take precautions to protect their health. High pollution levels and smoke haze are common, particularly in the summer months. They should consult their insurance provider about ways to control their exposure to pollution. In addition, they should schedule appointments with a respiratory specialist for treatment if they have any concerns about their health.

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