Malaysia’s BSN launches new bancassurance products

Series to be exclusively available through state-owned bank’s branch network

Malaysia’s BSN launches new bancassurance products

Insurance News

By Gabriel Olano

Malaysia’s Bank Simpanan Nasional (BSN) and Gibraltar BSN Life Bhd have released a new insurance product range known as Qaseh.

The series of life, critical illness and hospitalisation, savings, and education insurance products are underwritten by Gibraltar BSN Life, an insurance joint venture between state-owned BSN and US-based Prudential Financial. It is exclusively available through BSN and will be marketed by its 120 insurance specialists located in selected branches across Malaysia.

Qaseh is composed of four main insurance products: Hayat (life), Sihat (critical illness and hospital income), Dana (savings), Didik (education). According to a statement by BSN, Qaseh Dana is a savings plan that comes with life, critical illness, and hospitalisation benefits, while Qaseh Didik allows parents to save for their children’s education and provides protection benefits at the same time.

“We are delighted to launch Qaseh and provide our customers with an array of comprehensive and innovative protection products that will help them plan adequately for uncertainties and, in turn, enjoy a better quality of life,” said Datuk Yunos Abd Ghani, chief executive officer of BSN. “With Gibraltar BSN’s expertise in developing relevant insights-driven protection products and our large customer base, the addition of the Qaseh series to our bancassurance range will be a boon to the competitive advantage of our retail banking segment.”

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