KUALA LUMPUR, May 10 — PolicyStreet has formally knowledgeable the Ministry of Transport (MOT) of its intention to become a strategic partner with the Road Transport Department (JPJ). Through this partnership, the native insurtech firm is trying to acquire approval from the authorities to provide the road tax renewal service to its clients.
PolicyStreet’s letter to MOT units off its formal utility course of
In a letter sighted by eNM, PolicyStreet made no secret that its resolution to attain out to MOT was due to a latest comment by Transport Minister, Anthony Loke relating to BJAK.
Earlier this week, the minister mentioned MOT is open to having a proper partnership with the web insurance coverage aggregator for road tax renewal service. However, BJAK should first come ahead and current a proposal to the authorities as an alternative of providing the service with out approvals from JPJ.
In the letter which was addressed to each MOT and JPJ, PolicyStreet has listed a number of sturdy factors to assist strengthen its utility. Among them is the truth that it’s being funded by Khazanah Nasional by means of the sovereign wealth fund’s Dana Impak initiative.
The firm has additionally famous within the letter that it’s an accredited Financial Adviser (FA) and Islamic Financial Adviser (IFA) by Bank Negara Malaysia. PolicyStreet additionally took the chance to spotlight a number of of its current partnerships comparable to Carsome, Direct Lending, Foodpanda, ShopeeFood, and Grab.
At the second, JPJ solely has three official companions together with Pos Malaysia, MyEG, and Puspakom with reference to road tax renewal service. — eNM
