Zurich Malaysia, BetterTradeOff simplify financial planning for Malaysians
– Zurich Malaysia (Zurich) and Singapore-based fintech BetterTradeOff, today launched ‘Up | MyZurichLife’, a financial planning solution exclusively for MyZurichLife’s users to help them plan for a brighter future. The solution took root after BetterTradeOff won the Malaysian round of the Zurich Innovation Championship in April 2020.
Up | MyZurichLife is a cloud-based solution utilising advanced analytics with an easy-to-use interface. This helps to dramatically simplify the task of building of a sound and comprehensive financial plan and makes it possible for anyone, regardless of their financial literacy, to plan and make better financial decisions.
The solution allows users to explore different financial scenarios and how individual elements impact their overall plan. This includes purchasing a new home, planning for retirement, and planning for children education. Users can project the impact of life events such as becoming unemployed, or the sudden loss of the family’s main breadwinner on their financial situation. This enables them to better estimate the course of action to take to mitigate financial stress. Using a drag-and-drop approach, ‘goals’ or ‘dreams’ can be included into their plan, such as a new property, a child’s education, or a potential investment for a visualisation of the impact on their long-term cash flow, savings, or net wealth.
The solution incorporates Zurich’s products and proposes what may best suit customers to realise their ideal plan. It also has a convenient interface for customers to connect with a Zurich Wealth Planner for advice on tailoring a plan that meets their individual needs directly from the Up | MyZurichLife solution. The concept is to help customers put their plan in motion with minimal hassle.
Speaking on behalf of the Zurich Insurance Group, Zurich Holdings, Executive Director Stephen Clark said, “Innovation is central to the Zurich vision, enabling us to identify and develop uniquely tailored protection solutions for our customers. Collaborating with like-minded companies such as BetterTradeOff gives Zurich customers an even greater ability to take control of their financial and protection needs. Ultimately, this partnership will allow us to better serve our customers in order to secure their financial futures.”
Clark added, “The Zurich Innovation Championship was established to nurture innovators to tackle challenges that impact on us all, to build a more sustainable future. I am delighted it opened doors for us to collaborate with BetterTradeOff to push the boundaries of financial planning and protection to enhance the lives of Malaysians.”
Co-Founder and Chief Executive Officer of BetterTradeOff, Laurent Bertrand said, “Making sound financial planning a reality for everyone, means partnering with global leaders like Zurich to bring the solution to more countries and millions of more people. The launch in Malaysia is a great first step toward what we hope will become an important global partnership with Zurich.”
“Up | MyZurichLife will allow Zurich customers to discover and understand how Zurich products can enable and enhance their financial life journey- providing Zurich with a powerful new sales channel and exciting new customer offering,” Bertrand continued.
With the launch of this easy to use online financial tool, Zurich and BetterTradeOff will continue to upgrade the tool based on users’ response and input to satisfy the unique needs of Zurich and its partners’ customers in Malaysia. Access to ‘Up | MyZurichLife’ is available via myzurichlife.com.my under the Reward page. Registration is free and open to all Malaysians.
Zurich Insurance Group
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com
Zurich Malaysia
Zurich Malaysia is a collective reference term for the Zurich Insurance Group (Zurich) business subsidiaries operating in Malaysia: Zurich General Insurance Malaysia Berhad, Zurich Life Insurance Malaysia Berhad, Zurich General Takaful Malaysia Berhad and Zurich Takaful Malaysia Berhad. Zurich Malaysia offers a broad range of comprehensive insurance and takaful solutions; helping individuals as well as business owners understand and protect themselves, their businesses and their assets from risk. Zurich Malaysia has an integrated branch network in major cities nationwide as well as dedicated agency and distribution channels nationwide to serve the needs of its customers. For further information on Zurich Malaysia, visit www.zurich.com.
BetterTradeOff
BetterTradeOff is a Singapore-headquartered FinTech that’s revolutionising financial advice with an online solution that helps simplify and demystify financial planning. Making it possible for everyone, regardless of financial acumen, to make better financial decisions. Interactive and visual, the platform makes it easy for users to see and understand the impact of different decisions on their own; while simulating a wide range of financial situations, such purchasing a new home, or planning for retirement.
The solution has been deployed in Singapore, Hong Kong, the Philippines, the UEA, and Switzerland and is utilized across three distinctive business lines- a white-label enterprise solution for financial institutions; a SAAS solution for Financial Advisers; and a free, do-it-yourself, financial planning platform for consumers.
Earlier this year BetterTradeOff was selected as the Malaysia Champion in Zurich’s global Innovation Championships 2020. In 2018, BTO won the Global FinTech Hackcelerator organized by the Monetary Authority of Singapore (MAS); and the ‘DIAmond Award – Most Innovative Start-up’, at the most prestigious InsurTech event in the world, the DIA Conference in Amsterdam.
For more information, visit: www.bettertradeoff.com.