Press Release By The Silicon Review

“With our ready-to-be-launched product pipeline, we can proudly say that we are the most comprehensive insurance online marketplace in Malaysia.”

The insurance sector in Malaysia has significantly contributed to the country’s economic development for the last few decades and is rapidly growing. And while insurers have several insurance options, they are restricted by access to these insurer options. This is when online insurance services come into the picture. Buying insurance online is convenient, fast, and will cost you comparatively less, and they play a vital role in enriching the customer experience.

Fincrew or Financial Crew is one such insurance firm that provides an online insurance platform that enables customers to buy and renew insurance online. With this platform, drivers have more insurance providers to choose from, better price quotes on policies, better flexibility on the insurance, purchase insurance quickly, removing the need for a middleman, and much more.

Nick Lai, CEO of Fincrew, spoke exclusively to The Silicon Review on how he and his company simplify Malaysians’ financial life.

The Rise of Fincrew

The company was founded in 2020 by the NickMetrics group to help every Malaysian find the best auto insurance in Malaysia for their needs.

“Insurance and finance are complicated and confusing. We wanted to create something to give consumers the confidence to know what product or service they need and provide it to them with the best suited and prices,” said Nick Lai. He added, “Initially, we started with only auto insurance comparison. Now we provide a comparison for travel insurance, Umrah travel insurance, and personal accident insurance. Additionally, we provide office insurance, Covid-19 travel pass for foreigners to enter Malaysia, gadget insurance, car extended warranty, and online will writing. And by the end of 2022, we will be launching financial products such as comparison for a personal loan, credit cards, and SME loan.”

Driven by Customer Satisfaction

“Since the first day of our establishment, we insisted on developing a platform where everything can be done and transacted automatically online, from selecting a product, requesting quotes, securely paying online to managing cover notes and policies. We still stand by the ground on this. And with recent updates, we created more than 19 financial tools, each of them with the latest formula and data, and are 100 percent free to use. We have a whole list of technologies, and we use them to enhance our platform. From pulling the latest data, analyzing it, and providing the most suited package when users request quotes to the Omni channel notification system to inform users of their policies expire soon, with our notification system, users will always stay insured.”

Staying Ahead With the Growing Competition

With financial safety more critical now than ever, Fincrew has decided to broaden the scope and move from offering just insurance products to providing objective financial solutions to every individual’s pressing issues.

“Our development team consistently focuses on improving our UI & UX to provide the best experience for each user coming to our site, no matter the product type. Our team works hard to develop novel products that our users want but can’t find in the market. For example, our gadget insurance service, Fincrew, is the only digital insurance company to offer this type of insurance. With our ready-to-be-launched product pipeline, we can proudly say that we are the most comprehensive insurance online marketplace in Malaysia and will continue to be in the future as well,” extols Mr. Lai.

Tackling Challenges

“In Malaysia, the online transaction model is in its infant stage and is still picking up, especially in the technology industry such as finance and insurance. We had a tough time in the first year of our establishment, so to overcome this challenge, we put in a lot of effort to build and make our brand the most trusted one. Today, our efforts have reaped the benefits, and we are the leading insurance service providers in Malaysia.”

Roadmap

“As I mentioned earlier, we currently have 10 products ready to be launched by the end of 2022. We will be launching personal loan comparison, credit cards comparison, robot advisor comparison, and SME loans. And in 2023, we will launch medical, life, home, and maid insurance.”

“I would like to say our change from an online insurance aggregator to the one-stop financial marketplace is the most exciting news even for us internally. We work day in and day out to provide the best product and tools for every Malaysian and become the leader in the financial platform,” concluded Nick Lai.