KUALA LUMPUR: Allianz General Insurance Company (Malaysia) Bhd is teaming up with NEXEA Angels Sdn Bhd to be one of five corporates involved in NEXEA’s Multi Corporate Accelerator 2020.
The accelerator programme, now in its fifth edition, provides Malaysian start-ups access to embark on potential partnerships, mentorship, and pilot programmes as well as customer acquisitions and revenue through its collaboration with local corporates across various industries.
Allianz General, the general insurance arm of Allianz Malaysia, will be looking to partner the next best local start-ups as it capitalises on disruption and digitalisation as opportunities to evolve and innovate the insurance business.
Allianz Malaysia Bhd chief executive officer Zakri Khir said NEXEA’s accelerator programme is known to attract some of the best local start-ups.
"We wanted to throw our name into the hat. Allianz is always on the lookout for start-ups who are game-changers. Our focus is to continuously find ways to elevate how we deliver products and services to our customers.
"So, we are very eager to meet this year’s participants and see how we can work together," Zakri, who is also chief executive officer of Allianz General said.
Allianz General partnered Pand.ai in 2018 to create Aida, Malaysia’s first customer-facing AI insurance chatbot designed to answer product-related enquiries 24/7.
The company has also worked with distribution partners such as Speedhome (home rental platform), Socar (car-sharing network), PolicyStreet (insurtech start-up), and RinggitPlus (online comparison site).
"We aim to forge meaningful partnerships that are mutually beneficial with start-ups that have the best and most sustainable business model.
"We hope to play our roles as mentors to share our knowledge in creating value and new economic drive, all of which we hope will be of service to the start-up ecosystem in Malaysia," Zakri said.
Start-ups who are successful in joining this year’s programme will receive funding of RM50,000.
These start-ups could also receive follow-up funding via Angel Investors of up to RM1 million as well as RM1.5 million of benefits.
To date, NEXEA has worked with 35 start-ups, some of whom have gone on to produce a combined revenue of more than RM100 million.
In addition to Allianz General, the corporate line-up for the NEXEA Multi Corporate Accelerator 2020 will also feature UEM Sunrise Bhd, Spritzer Bhd, Delloyd Group, and shopper360 - an shopper marketing expert.