Tech innovators feel the insurance industry is ripe for disruption, highly regulated and extremely complex, start-ups now want to make insurance accessible to everyone and easy to understand by using technology.

PolicyStreet a Malaysian founded start-up has been actively engaging stake holders to bring the service to the public on their preference and level of affordability. The app offers customers curated insurance based on their needs from the list of offering the company has which includes currently Life, Personal, Illness and even non-conventional for those who seek to insure their valuables or interests. With more coming on Motor, Pets and even musical instruments. Having secured a new series of  funding of RM2,100,000 (USD500,000) in seed funding from a Singapore-based venture capital, KK Fund, PolicyStreet is now ready to move up to the next level with new innovative products and seeking to expand its collaboration from industry players, corporates and groups to propel the industry further.

Founding member and CEO Lee Yen Ming together with him team are ecstatic with being recognised and cognizant of the fact that’s lots more to be done  “We want to change the perception of insurance by providing the right education and awareness. We believe insurance is a prerequisite in all stages of life and we take pride in being a part of our customer’s life journey,”

Asserting the status quo of while the public continues to think that owning an insurance policy is one of the least priorities in life, Yen Ming hopes that with a bit more direct awareness, education and knowledge, consumers will be able to make better informed decisions when it comes to their protection needs.

PolicyStreet aims to play a key role in bridging the country’s protection gap and meeting the envisioned 75% insurance penetration rate by 2020.