This Malaysian insurance company unveiled their new agent… and it’s a cat
Whenever pets fall sick, their owners won’t hesistate to take them to the vet to get them checked out. That’s how much paw parents love their furbabies – it’s really no exaggeration to call pets an extension their families. Over time, though, vet bills can really add up, which is why many Malaysian pet owners have signed up pet insurance to cushion the cost.
This has contributed to the success of Oyen, a local digital pet insurance platform. In fact…
Oyen has sold more than RM100 million worth of pet insurance
Founded in 2021 through a partnership with MSIG Insurance (Malaysia) Bhd, Oyen has assisted pet owners in managing medical expenses for their pets, enabling them to save a substantial amount in vet bills. With RM100 million of insurance protection provided, Oyen has grown sixfold from 2021 to 2022.
“We founded Oyen during the pandemic when we discovered that pet owners were struggling to pay their vet bills. As fellow pet owners ourselves, we want our customers to get the best care for their pets through our broad pet insurance coverage and provide insurance claims servicing by the most empathetic and caring team.” – Kevin Hoong, CEO & co-founder of Oyen
Oyen’s insurance coverage is available in every vet clinic in Malaysia, making it convenient for customers because they don’t need to visit specific panel vet clinics. They can also reimburse their bills on Oyen’s online platform. Here’s what customers have said about Oyen’s services:
“What I like most about Oyen is that they go above and beyond in providing insurance services. As a new cat owner, I’ve learned a lot about responsible pet ownership and care from Oyen. The insurance itself is great value for money and the claims process is very smooth.” – Nur Basyira Bahari, an Oyen customer
With an easy-to-use user portal and accessible customer service, pet parents can manage and track their pets’ claims submission and progress as well as renew their policies online.
“Having met the founders and the way they created Oyen Insurance, it beats any company I have used before. Their plans are great and they bring a fresh new approach to insurance. They have a user-friendly online platform and they are also very transparent on things – easy claims and registration process and everything can be done in a few minutes.” – Alda Lo, another Oyen customer
What really got us excited for the company was the fact that…
Oyen has a new (digital) insurance agent… who’s also a cat
And yes, his name is Oyen.
Having raised over RM1.7 million through seed funding with investors such as Hustle Fund, Oyen is projecting to achieve 50,000 pets covered in Malaysia and 100,000 in Southeast Asia by 2025.
Through a round of rebranding, Oyen is going beyond pet insurance. They have rolled out a new (human) travel insurance product designed exclusively with elements of pet protection incorporated. This unique travel insurance not only covers avid travelling pet owners, but it also offers additional pet benefits that give pet owners peace of mind if anything untoward happens during their trip.
Insurance may be hard to understand for many people, so Oyen now has a digital insurance cat-agent named Oyen (because that’s the best cat name) who’ll help explain and demystify insurance jargon. Unfortunately you can’t discuss insurance over a coffee with Oyen, but you’ll soon be able to talk insurance with him here.
