Targeting Malaysians diagnosed with pre-diabetes and type 2 diabetes, MSIG Malaysia has introduced a new insurance product called MSIG Gluco SafeGuard which comes with a complimentary premium access to Health2Sync, a diabetes management app that can help policyholders monitor and manage their diabetes effectively. The insurer will provide policyholders who consistently perform their tests and record the results in the app itself with a premium reduction of up to 40% upon their next policy renewal, subject to eligibility and underwriting criteria.
Promoting self-disciplined health management, the app will also provide lifestyle and dietary recommendations to help policyholders achieve a healthier blood sugar level.
"Our objective was to give customers the peace of mind that they can handle the increased financial consequences of the condition and provide a tool to help them understand and manage the condition in an effective way," said MSIG Malaysia CEO Chua Seck Guan.
MSIG Gluco SafeGuard provides comprehensive coverage for illnesses and treatments as well as offers additional protection and assurance for diabetics who may face additional uncertainties, costs and complicated claim procedures when they utilise regular health insurance policies.
A majority of traditional health insurance policies in Malaysia do not cover pre-existing medical conditions that are identified before purchasing the insurance which makes it challenging for diabetics to purchase insurance.
“We hope that this approach will not only benefit our customers directly, but also play a small part in helping the country tackle the diabetes epidemic, “said Mr Chua.
Malaysia has the highest rate of diabetes in Asia and one of the highest in the world. According to figures released by The International Diabetes Federation, there are currently about 3.6m adults with diagnosed diabetes in Malaysia in 2019. This marks an increase from 3.5m in 2017.