Zurich and GXBank target online scams with new insurance

Coverage price ranges from $0.23 per month to $0.92 per month.

Zurich General Insurance Malaysia and GXBank have introduced Cyber Fraud Protect, a new digital insurance product available through the GXBank app.

This product, supported by the Zurich Edge platform, provides coverage for financial losses due to unauthorised transactions from any local bank account, e-wallet, credit, or debit card. The plan offers coverage up to $4,624.28 (RM20,000), making it one of the most comprehensive in the market.

The launch of Cyber Fraud Protect follows growing online scams, with Malaysians losing $370m (RM1.6b) to such activities over 19 months, according to the Federal Commercial Crime Investigation Department.

Customers can purchase the coverage directly through the bank app, choosing from three coverage options: Basic $0.23/month (RM1/month), Plus $0.46/month (RM2/month), or Pro $0.92/month (RM4/month).

The policy is activated instantly upon approval, with premiums automatically deducted from the customer’s GXBank account.

($1.00 = RM4.32)

Follow the link for more news on

Zurich Malaysia

Also Read

Philippine life insurance sector slated for 5.4% CAGR by 2028

Property insurance industry to exceed $152b by 2028

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit