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May 14, 2019updated 19 Sep 2022 12:46pm

New insurtech start-up Fi Life launches in Malaysia

Fi Life, an insurtech start-up co-founded by BFM radio founder Malek Ali and Tan Jiann Meng, has commenced operations in Malaysia.

The launch of Fi Life follows the acquisition of online life insurance provider U for Life from German reinsurer Hannover Re and New Zealand insurance software company Intelligent Life.

Following the completion of takeover last year, U for Life has been rebranded as Fi Life, Fi Life said in a statement.

The newly launched insurtech firm provides insurance services through its mobile and desktop platform.

Fi Life offers life insurance coverage of up to MYR1m ($239,755).

Subject to assessment by Fi Life’s online underwriting questionnaire, customers with problematic medical history may also be offered cover.

As part of the rebranding, Fi Life has introduced certain service augmentations including a more intuitive interface, extended age eligibility as well as higher coverage geared towards certain age and income categories, among others.

Tokio Marine Life Insurance Malaysia underwrites insurance products for Fi Life. The company is offering life cover issuance from the web/mobile site, without any medical test.

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