While purchasing a used car may seem like a value buy, there are many additional cost that may come to bite you during ownership, among which include high insurance premiums. Seeking a solution to this issue, myTukar Sdn Bhd has teamed up with PolicyStreet.com to quickly connect used car buyers to insurance providers wider variety of insurance needs.
Fong Hon Sum, CEO of myTukar, said, “We are extremely pleased to have found a like-minded partner to collaborate with us in our quest to spearhead the transformation of the pre-owned car industry”.
“PolicyStreet.com was born out of a need for change in the traditional century-old insurance industry, and aims to democratise insurance by making it simple, easy and affordable, which is very much in line with myTukar’s mission of making pre-owned car buying and selling simple, convenient, efficient and transparent,” said Fong.
Owned by Polisea Sdn Bhd, a Bank Negara approved Financial Adviser and Islamic Financial Adviser, PolicyStreet.com is an online platform where clients can get insurance quotations directly from their panel of insurers for easy comparison and purchasing.
PolicyStreet.com’s CEO, Lee Yen Ming, said, “We are excited to be partnering with myTukar to deliver the transformation that myTukar is looking for in enabling seamless motor insurance purchase for all of myTukar’s customers. We do this by making insurance simple, easy and affordable. We are looking forward to enhancing this with more insurance solutions in the near future.”
myTukar is the partner of PolicyStreet.com and is one of the first online car retailers to provide insurance from multiple companies. Through this collaboration, myTukar’s wholesale and retail customers can obtain insurance quickly and conveniently within one online platform.
Customers will receive a few quotations from most major insurance providers within minutes at the push of a button. They can select the most suitable policy for them. The services of this collaboration support both new car insurance as well as yearly renewals.
Some of the insurance providers that have come onboard with myTukar via PolicyStreet.com include Allianz General Insurance Company Berhad, AXA Affin General Insurance Berhad, Berjaya Sompo Insurance Berhad, Pacific and Orient Insurance Co. Berhad, RHB Insurance Berhad and Syarikat Tafakul Malaysia Am Berhad. These insurance providers cover basic insurance add-ons and agreed value.
More insurance providers are in the process of onboarding to provide even more choices for used car buyers. And that is a good thing.