Tune Insurance Malaysia Berhad (“Tune Protect Malaysia”) announced its collaboration with BOXKU, a Malaysian mobile app based parcel consolidator and the shipping solutions provider in Malaysia for China e-commerce platforms and retailers such as Taobao, JD.com, and Tmall, among others.
Through the partnership, BOXKU offers online shoppers the ease and convenience of purchasing the Company’s consignment insurance for their parcels on BOXKU mobile app. Premium starts from as low as RM1 depending on the sum insured of the parcels, with coverage value of up to RM250,000.
The Company’s consignment insurance provides coverage in the case of loss or non-delivery of the parcels handled by BOXKU. Insurance coverage and premium paid is based on the purchase value of the parcel plus 10% uplift for freight cost and expenses.
For example: If the value of the parcel is RM180, the insured value will be RM198 (RM180 + 10% uplift), then the premium charged would be RM1 and the customer can make a claim up to RM198 in the event of loss or non-delivery of the parcel.
“In tandem with the rise of online shopping, we strive to provide lifestyle-driven protection plans targeted at the specific lifestyle needs through this strategic collaboration. Seeing how consumers are increasingly adopting online shopping today, we would like to ensure that their everyday lifestyle is well-protected in the event of unforeseen circumstances,” said William Foo, Chief Executive Officer of Tune Protect Malaysia.
BOXKU has developed mobile apps and platforms that enable customers to collate their parcels and subsequently choose to book freight forwarding service, purchase insurance, track parcels and view order history at their fingertips, with much ease.
“We are delighted to offer value-added services such as this consignment insurance by Tune Protect Malaysia. At BOXKU, our priority is to enhance customers’ online shopping experience on the various eCommerce platforms and with this partnership, we are ableto provide more value to our customers, summing up to our slogan of “BOXKU Makes Shipping Simple,” said Gavin Low, Co-Founder of BOXKU.
Online shopping is increasingly becoming a norm for Malaysian shoppers today. According to a study by Bain & Company, Malaysia has the highest percentage of digital consumers with 83 percent of its population and 48 percent has cited to have switched to shop mostly online in the past year.
Through the partnership with Tune Protect Malaysia, online shoppers are now able to enjoy their shopping experience with peace of mind knowing that their parcels are well protected.
For more information on Tune Protect Malaysia consignment insurance on BOXKU platforms, please visit www.boxku.com.my .