Here is a comparison between Critical illness Coverage in Malaysia and Jack Ma’s ANT Financial:

  ANT Financial (Xian Hu Bao) Malaysia
Sum Assured RM 183,947 RM 183,947
Annual Premium .6 ¢ (For every Claim of Critical illness) RM 9,000
Age of Entry 30 days at Age 59 30 days to age 60
Underwriting YES (Basic Health Criteria) YES
Coverage of illness Not more than 100 Critical illness 45 Critical illness
Settling Claims Hundreds of thousands of pre-approved users will vote on whether to pay or not to pay Claims Department
Method of Payments Through Alipay .6 ¢ for every claim paid. Through the GIRO or Credit Card
Waiting Period 90 days 60 days
Claim Procedures Artificial Intelligence (AI) recognizes claims and Medical Records. It can verify chops from more than 10,000 hospitals in China. Claims Department
Claims Record 49 claims up to June 2019 About RM 250 Million
No. of Employee 50 (Employees)                    Agents: 0 800 to 900 (Employees)                    Agents: 4k to 12k
No. of Years Operating 1 Year Average of 60 Years
No. of Policyholders 65 Million Average of 4.5 Million
Penetration in 3 years from now 300 Million Policyholders 25 Million Policyholders

Are we prepared for the wave of change?

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