Talking digital innovation in insurance and property market, a collaboration between Allianz Malaysia and SPEEDHOMEDiamonds are a girl's best friends

 

Imagine if securing a home rental and insuring was as easy as ordering an e-hailing ride.

 

Since partnering up in 2017, Allianz Malaysia Berhad and SPEEDHOME have provided homeowners up to RM30 million insurance protection via the SPEEDHOME app. 

 

On the 4th of December,SPEEDHOME  organised the “Allianz Malaysia - SPEEDHOME X Digital Innovation in the Property and Insurance Market “ media forum. 

 

When the landlord puts their property up for rent, the go-to practice would be to seek a deposit of 2+1 the tenant. Does 2+1 deposit sufficiently cover the possibility of losing rent from a runaway tenant or the cost of damages by ‘difficult’ tenant? In the meantime, according to Bank Negara, every 2 out of 3 Malaysians does not have the ability to fork out RM1000 for their house rental. How would then the 2+1 deposit even be possible then?

 

To solve this problem, SPEEDHOME provides a platform with the help from Allianz insurance that takes care of the unnecessary inconveniences by offering tenants with a deposit-free rental service and landlords protection against runway tenants, tardy paymaster and home damages 

 

Allianz General’s Head of Digital Partnership and Innovation Michael Fong said: “Till date Allianz helped 300 landlords in claiming their loss which cost more than RM800,000.” With the support of Allianz Malaysia, SPEEDHOME has provided up to RM30 million worth of insurance protection to landlords. Till date, SPEEDHOME’s advanced insurance package offers homeowners rental protection of up to RM42,000 and has solved the major pain points for homeowners.

 

On the other hand, the president of REHDA Malaysia, Dato’ IR Soam Heng Choon shared that the ministry of housing and local government together with REHDA Malaysia are in the midsts for the discussion on the Rental Act for Malaysia. With the enhancement of the rental act in the future, we are hoping that the cost of rental will decrease. 

 

To learn more about SPEEDHOME’s services, visit speedhome.com or email SPEEDHOME at hello@speedhome.com

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