A quick search is all it takes to discover that there’s a wide variety of insurance and takaful coverages for you to browse through and choose from. Whatever it is you’re looking for, you’ll be sure to find. But, would it be the right choice with the right provider for you?
Let us skip ahead and save you from all the searching that you’ll do, and we’ll tell you ourselves what makes Ouch! the trusted choice.
Regulatory Sandbox-Approved
Our biggest stamp of approval, and the ultimate guarantee to our participants, is the fact that we are an authorised digital takaful provider in Bank Negara Malaysia’s Regulatory Sandbox.
The Regulatory Sandbox was established to allow fintech solutions to be experimented on in a live, controlled environment. This allows providers to focus on innovation and the testing of new technology, while consumers are fully protected by the rules and regulations that have been set by Bank Negara Malaysia.
What’s in store for the participants of Ouch! Takaful?
First, Ouch! is officially recognised under the lens of Bank Negara Malaysia, which speaks volumes about our reliability. Second, as an accepted provider in the Regulatory Sandbox, we strictly adhere to the set regulations, and we’re constantly pursuing innovation to better our solutions and make protection as accessible as possible for everyone.
That’s a win-win situation! As a participant, you’re secure, and you can look forward to the future because you know we’ll always be rolling out new features, plans, and upgrades.
Takaful-Compliant
Takaful revolves around the three core concepts of cooperation, shared responsibility, and risk-sharing. It is fully compliant with the Islamic Shariah Law, so, you can consider it an ethical alternative to conventional commercial insurance. Of course, it excludes elements such as usury, uncertainty, and gambling.
It’s a form of Islamic Insurance, where investments are made ethically and responsibly in Shariah-compliant markets, and it practises the concept of collective protection. In other words, everyone within the community works together to help each other. Contributions are pooled and all participants involved will collectively be protected against loss and damage.
Here at Ouch!, that’s exactly how it is. But, there’s more to that too.
Our security is on the next level. To ensure that all of your funds are secure, we have partnered with Universal Trustee, an independent and trusted custodian, to work hand-in-hand to safeguard your money. It’s all well protected, and we see to it ourselves.
As an intermediary (the mediator within this agreement), Ouch! sets and receives a fixed management fee of 20%. No matter how the fund performs, the percentage will not change. We want to remain transparent about our charges so that you know what you’re signing up for, and the value of protection you’ll be receiving in return. In the end, any surplus would be fully returned to certificate holders too.
High Quality, Low Cost
Protection should be accessible by all, but its value should never be compromised in return—that, we believe. Ouch!’s Pusara Pro is not only affordable and budget-friendly, starting at just RM4.13/month, but it also offers life protection up to RM500,000. We pay out an additional 10% on top of your sum covered too, and it’s all very quick. You can expect to receive it within 24 hours upon the submission of the death certificate or police report.
Our processes are simple, from start to end. With everything available on our Ouch! app, you can easily review and manage your plans digitally from the policy vault. The quality that we offer comes in the form of the protection you receive, and the service we provide whenever you need it.
Investing in insurance or takaful is important, and such a decision should be made with proper care and consideration. You should explore all of the available options out there, and decide which fits you best!
Find out more about Pusara Pro here or download Ouch!’s Takaful & Insurance app from the App Store or Google Play Store today.
Disclaimer:
Please note that the information presented within our blog articles and/or by our esteemed brand ambassadors/KOLs is intended solely to provide general insight. It should not be construed as legally binding in any manner whatsoever. While we strive to maintain accuracy and currency, we do not guarantee the completeness, reliability, or suitability of the information shared.
For matters requiring legal validity or formal confirmation, we strongly advise referring to official certifications, authorised documentation, or pertinent sources. To ensure clarity and obtain authoritative guidance, please consider reaching out to an authorised Ouch! Representative through our established communication channels.