KUALA LUMPUR: The Malaysian digital pet insurance platform operator Oyen Sdn Bhd has provided RM100 million worth of insurance protection for pets to date.
Chief executive officer and co-founder Kevin Hoong said the company has grown exponentially in terms of providing pet insurance protection through its partnership with MSIG Insurance (Malaysia) Bhd since 2021.
"Every month since our establishment, we saw our revenue growing by 10 per cent (and this) means that an increasing number of pet owners trust us to provide the best care for their pets through our broad pet insurance coverage," he said during the launch of the Oyen brand's new look here today.
Hoong said approachability, friendliness and care would continue to be the company's core principles as it introduces holistic insurance products beyond pet insurance to a larger audience.
He said that the company is known among pet owners for its brand of veterinary (vet) medical bill coverage of up to RM8,000 per year and hassle-free claims payout.
"We founded Oyen during the pandemic when we discovered that pet owners were struggling to pay their vet bills.
"Customers do not need to visit a panel vet clinic as Oyen's insurance coverage is available at every veterinary clinic in Malaysia and they can quickly claim their expenses on Oyen's online platform," he said.
Hoong said Oyen had earlier raised over RM1.7 million through seed funding with notable investors such as Hustle Fund.
He said that the company aims to get 50,000 pets covered in Malaysia and 100,000 in Southeast Asia by 2025.
During the event, Oyen unveiled a human travel insurance product designed with elements of pet protection, incorporating coverage for travelling pet owners with additional pet benefits such as paying for an extension of pet boarding due to travel delays of up to RM1,000. - Bernama