AXA Malaysia to provide telematics-based commercial truck cover

AXA Malaysia to provide telematics-based commercial truck cover | Insurance Business Asia

AXA Malaysia to provide telematics-based commercial truck cover

(L-R) Jacky Tan, senior manager of Fuso operations, Hap Seng Trucks Distribution; Puan Chen Keck, CEO of Hap Seng Credit; Emmanuel Nivet, CEO of AXA Affin General Insurance; and Roland Schneider, CEO of Hap Seng Trucks Distribution

AXA Affin General Insurance Bhd has partnered with Hap Seng Trucks Distribution (HSTD) and Hap Seng Credit (HSC) to provide its telematics-based commercial vehicle insurance to drivers of light commercial trucks.

The agreement will introduce the AXA FlexiTruck product to commercial drivers of Fuso-brand trucks, distributed in Malaysia by HSTD. It aims to help drivers understand their road habits through the installation of a telematics security device in the trucks.

According to a statement by AXA, its FlexiTruck product is targeted at light commercial vehicle drivers, with a claim excess of MYR500 (around US$120) per claim and bundled with personal accident coverage worth MYR50,000 (US$11,900).

Read more: Safe drivers pay 14% lower premiums on average - AXA Malaysia

As part of the agreement, the insurance product will be promoted at HSTD Fuso dealership network branches and HSC offices across Malaysia, with all Mitsubishi Fuso Canter trucks sold to be fitted with a telematics device that provides vehicle data gathering, automatic accident alert and assistance service, and a vehicle security and theft recovery feature.

“As commercial vehicle transportation continues to grow in Malaysia, crash rates involving commercial vehicles remain high,” said Emmanuel Nivet, CEO of AXA Affin General Insurance. “It is important for us, as an insurer, to promote inclusivity and responsible driving behaviour to all road users, including light commercial vehicle drivers, to mitigate the high accident and road fatality rate. Together with our partner Hap Seng Trucks Distribution, we are committed to delivering our shared goal of providing added value and protection to our customers, and at the same time making our roads better and safer for all.”