Zurich, AEON target gap in Takaful market

The partnership aims to integrate fintech with Islamic finance.

Zurich Malaysia through its family takaful business, Zurich Takaful Malaysia Berhad (ZTMB) and its general takaful business, Zurich General Takaful Malaysia Berhad (ZGTMB) has partnered with AEON Bank Berhad, a Malaysian Islamic digital bank.

The partnership aims to integrate fintech with Islamic finance, providing digital-first protection products within Malaysia's robust Islamic finance ecosystem.

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“Through this multi-year collaboration, we are ready to meet the dynamic needs of today’s digital-savvy customers and be at the forefront of digital innovation. There’s no greater priority than the protection we can provide for our families and loved ones, and we’re excited and proud to be able to drive this through the partnership with AEON Bank.” Nur Fatihah Mustafa, Authorised Representative of ZTMB said in a press release.

“We see a gap in the market for micro coverage and protection, thus we aspire to facilitate access to affordable Takaful options, for Malaysians to be able to protect what matters most to them and a shield in difficult times. We look forward to working together with Zurich Malaysia to achieve this shared commitment.” YM Raja Teh Maimunah, CEO of AEON Bank added.