Alliance Bank Malaysia Berhad and Zurich Malaysia introduced Z-ALLIANCE CYBER PROTECT, Malaysia’s first cyber insurance to safeguard Malaysians against financial losses arising from cyber-crime. The expansion of the Bank’s assurance collaboration with Zurich aims to be an affordable solution to complement the Bank’s suite of protection for customers.
“Our alliance with Zurich enables us to continue to propose relevant digitised innovations that meet our customers’ needs. Cybercrimes are a prevalent threat of our digitised environment, more so during the COVID-19 pandemic as more consumers go online to shop for their essentials. This makes Z-ALLIANCE CYBER PROTECT personal cyber insurance a timely solution to protect customers from being victims of cybercrime,”Mr. Joel Kornreich, Group CEO of Alliance Bank.
There are close to 8,400 cases reported this year between January to September, with fraud taking the lead over 71% of the overall recorded cyber-crime incidents. As more consumers adopted digital e-commerce transactions by becoming more familiar and comfortable with online purchasing, they are more prone to be potential victims of cyber scams.
Z-Alliance Cyber Protect Policy Coverage
The Z-Alliance Cyber Protect not only safeguards the consumers from financial losses from online identity theft, extortion and fraud. It also provides restoration cost for laptop repair fees due to malware incidents and reimburse consumers for loss from fraudulent transactions from undelivered goods and services.
The policy is made affordable to all consumers from just only RM 0.31 a day per policy. It even offers coverage on overseas purchases delivered to Malaysia for the insured and extends the coverage to their spouse and children of the same household (who are residing in Malaysia).
Customers that are interested can purchase the policy online and those who subscribe via online from 1st November to 31st March 2021 will get an additional month of complimentary coverage.
First 100 customers purchasing the policy using their Alliance Bank Visa/Platinum credit card will get a complimentary RM 10 shopping voucher and 1 year subscription of CTOS SecureID alerts (credit monitoring solution by CTOS that helps safeguard consumers against identity theft, fraud, and scam) worth RM 86.90.
For more information, please visit Alliance Bank’s official site to know more.