Touch ‘n Go launches ParkInsure, a first-of-its-kind, off-street parking insurance/takaful

Personal accident insurance/takaful coverage at Touch ‘n Go payment enabled car parks

Touch ‘n Go Group has launched a first-of-its-kind Personal Accident insurance/takaful, ParkInsure for users who utilise the Touch ‘n Go card for entry to parking sites.

With a premium of only RM5 per month, ParkInsure caters to the affordability of all Touch ‘n Go card users and can be subscribed seamlessly via GOprotect, the digital insurance/takaful hub on Touch ‘n Go eWallet. They can opt for takaful underwritten by Zurich General Takaful Malaysia Berhad or conventional insurance underwritten by Allianz Malaysia Berhad. Besides the cashless convenience, users can rest assured that their transactions are safe and secure.

Chief Executive Officer of TNG Digital Sdn Bhd, Alan Ni said, “We are pleased to introduce our latest insurance/takaful product on GOprotect, which provides personal accident insurance/takaful protection for our users who use the Touch ‘n Go card for payment at parking sites. ParkInsure is unique in the sense that it is a value-added service of the Touch ‘n Go card, expanding its utility beyond mobility purposes such as parking, transit and tolls.”

Commenting on the collaboration, Chief Executive Officer of Zurich General Takaful, Shamsul Azman said, "We are delighted to join forces with Touch 'n Go Group to offer their card users seamless and affordable takaful solutions for unforeseen incidents. Our extensive experience in developing innovative products, combined with our commitment to digital advancements, will deliver a distinct value proposition and exceptional customer experiences through ParkInsure.”

“This collaboration perfectly aligns with our mission to 'Care For What Matters', ensuring everyone has protection even within the car park compound. We encourage Touch 'n Go users to sign up to ParkInsure and get protected by the latest cutting-edge protection plan in the market, offering them peace of mind and security for their parking experiences,” he added.

Chief Executive Officer of Allianz Malaysia, Sean Wang said, “We are honoured to be selected as Touch ‘n Go's preferred conventional insurer for ParkInsure, which is a first-in-market parking insurance. With this partnership, we aim to increase the accessibility of affordable insurance coverage to all Touch ‘n Go card users.”

The benefits of ParkInsure include reimbursement of up to RM70,000 for permanent disablement or accidental death caused by accident while within the car park compound; a snatch theft inconvenience benefit of up to RM1,500 for snatch theft cases within the car park compound; as well as reimbursement of up to RM1,500 for forcible car break-ins within the car park. Users will also be given a key reimbursement fee of up to RM200 should their car key be stolen or damaged during the period of coverage.

Additionally, under the conventional plan, users will be given a transport reimbursement fee of up to RM200 should there be transportation charges incurred for admission to the hospital due to accidental cause within the car park compound as well as a RM10 reimbursement fee, should users lose their enhanced Touch ‘n Go card due to snatch theft within the car park compound. Separately under the takaful plan, users will be given an inconvenience benefit reimbursement of up to RM200 should their car be damaged due to an accident within the car park compound.

Elaborating on the affordable features of ParkInsure, Ni said, “No matter how careful or vigilant people are, mishaps and unforeseen circumstances can happen, and they need to have adequate financial resources to get the necessary help at the crucial time. ParkInsure is customised to provide insurance/takaful protection specifically to Touch ’n Go card users within any carpark compound where Touch ‘n Go card payments are enabled.

“Through this customisation, the premium or contribution cost is kept low, catering to the affordability of our eWallet users as they are only paying for insurance/takaful coverage against incidents such as snatch theft, car break-ins, or car accidents which might happen within the car park compound. There are currently more than 1,350 Touch ‘n Go payment enabled parking sites nationwide where the insurance/takaful coverage is applicable.”

Touch ‘n Go eWallet users can subscribe to their ParkInsure insurance/takaful plan through GOprotect in less than 3 minutes after selecting their takaful or conventional plan. Users are also guaranteed a hassle-free claim process through the 24/7 insurers’ claim hotline. Besides being able to subscribe to their insurance/takaful plans conveniently, they can also keep track of the policies/certificates in an organised manner through the “My Policies” tab on their eWallet app.