Malaysian insurtech company PolicyStreet has launched Drive+ Membership, a loyalty programme designed to offer cost-saving benefits for vehicle owners.
The initiative provides discounts on road tax, waived processing fees, interest-free payment options, and additional perks related to car insurance renewals.
According to PolicyStreet co-founder and group chief executive officer Yen Ming Lee, the programme is intended to offer financial relief to drivers.
This comes as Malaysia’s motor insurance industry is expected to reach MYR13.4 billion in direct written premiums by 2027, reflecting an annual growth rate of 9.6%, according to GlobalData. The sector’s expansion is anticipated to be driven by rising vehicle ownership, regulatory shifts, and increased digital adoption in the insurance space.
“While we continue to uphold our ‘Cheapest Road Tax in Town’ promise, the Drive+ Membership aims to empower drivers with practical benefits that ease the financial stress that comes with owning and maintaining a car,” Lee said.
Drive+ Membership includes the following benefits:
The programme is being introduced at a promotional price of RM39.90 before transitioning to its standard rate of RM99.90.
PolicyStreet said Drive+ Membership will replace its existing “Betul-Betul Cheapest Road Tax” offer beginning Feb. 12 at 8pm.
The current promotion, which includes free road tax for selected Proton and Perodua models and up to 70% discounts for other vehicles, remains available until that date.
Lee noted that PolicyStreet is working to expand its partner network to offer additional benefits beyond insurance renewals.
“We are actively working to expand our network of partners to provide more meaningful savings – not just during car insurance and road tax renewals, but throughout their everyday driving and car ownership journey. This reflects our unwavering commitment to enhancing Malaysians’ financial resilience and simplifying their experience with insurance renewals,” he said.
In addition to launching Drive+ Membership, PolicyStreet has introduced optional add-ons, available at RM16.90 each, to cover specific vehicle-related costs:
The new membership and additional protection options will be available through PolicyStreet’s car insurance renewal platform starting Feb. 12 at 8pm.