27/10/2025

MONDAY | OCT 27, 2025

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BANKING & INSURANCE

Allianz Malaysia supports govt’s PTV3.0 with new protection plan

GXBank rolls out business banking facility, Jaguh Niaga Programme to back MSMEs PETALING JAYA: GX Bank Bhd recently launched its business banking facility and flagship Jaguh Niaga Programme, as part of efforts to support Malaysia’s micro, small and medium enter prises. Initially offered to sole pro prietors, GX Business Banking is a fully digital solution designed to address small businesses’ chal lenges. It simplifies processes and financial access while offering savings on operating accounts and loan settlements. GX Business Banking intro duces two key products – the GX Biz Account, a fully digital busi ness account that can be opened in under eight minutes via the app, without requiring physical documents and the GX Biz FlexiLoan, which provides access to growth capital of up to RM150,000, subject to eligibility and credit assessment, with approvals granted in minutes. GXBank also rolled out the Jaguh Niaga Programme, which aims to empower 10,000 MSMEs to thrive in a digital-first economy. The programme combines finan cing solutions with access to a suite of digital business tools, including customer expansion through the Grab platform, human resource management solutions and digital payment facilities. “We first piloted GX Business Banking with Grab merchant-part ners, and their feedback was overwhelmingly positive, especially on the convenience and savings. They appreciated that loan ap proval takes minutes with instant access to cash. “Similar to our retail deposits, business owners earn daily interest on their GX Biz Account. For GX Biz FlexiLoan, they can choose flexible repayment terms of up to three years, with no penalty for early settlement, while saving on loan interest,” said GXBank chief com mercial officer (SME) Prasanna Rao. Deputy CEO and COO Hildah Hamzah said that with GX Business Banking and the Jaguh Niaga Programme, they are investing in MSMEs that power more than 95% of Malaysia’s economy.

consistently shows that it drives trust, co-operation, and long-term success. This report highlights how empathy shows up in business and why it matters – making a strong case for embedding it into every customer experience.” Zurich Malaysia chief operations officer, property and casualty, Iris Dang said, “At Zurich Malaysia, we are embedding empathy across our claims and service journeys, from the way we design our processes to how we train and support our people.” In 2024, Allianz Malaysia, through its subsidiary Allianz General Insu rance Co (Malaysia) Bhd, distributed a total surplus of RM219,148 from the CAF to charitable causes, contri buted by PerlindunganKu Allianz4All and Group Personal Accident Allianz4All. PerlindunganKu Allianz4All under PTV3.0 can be purchased via authorised distributors. and RM750 lump sum emergency relief in the event of flood evacuation. The annual premium, including 8% SST, is RM81, with STR recipients required to pay RM51 on top of the voucher. A key feature of PerlindunganKu Allianz4All is the allocation of 53.5% of the premium upfront to a claims allocation fund (CAF). Any surplus from the CAF will be channelled to charitable causes, with the remaining premium allocated to Allianz General for management fees. All premiums will be held in Islamic bank accounts with investments aligned to Islamic finance principles. For PTV3.0 policyholders, surplus distribution will differ from self-paid policyholders, as a portion of the CAF surplus will be distributed to the government in line with programme specifications.

o PerlindunganKu Allianz4All offers coverage for individual personal accident, medical and emergency relief

The study, Addressing the Empathy Gap: How Human Connection Can Give Businesses a New Competitive Edge , was developed in collaboration with empathy academic Professor Jamil Zaki, director of the Stanford Social Neuroscience Laboratory. It draws on a YouGov survey of more than 11,500 consumers across 11 countries. Findings show that three in five consumers (60%) only engage with companies that genuinely care about them and their needs, while nearly three quarters (73%) would avoid PETALING JAYA: Hong Leong Bank (HLB) won three awards at the Asian Banking and Finance (ABF) Retail Banking Awards 2025. For the fourth consecutive year, HLB was named the Best SME Bank in Malaysia by ABF. HLB was also recognised as the Domestic Cash Management Bank of the Year for empowering corporate and financial institution clients with advanced cash management solu tions that streamline operations and enhance financial control. PETALING JAYA: Allianz Malaysia Bhd has announced its support for the government’s Perlindungan Tenang Voucher 3.0 (PTV3.0) pro gramme through its Perlin dunganKu Allianz4All, offering comprehensive coverage at afford able premiums. PerlindunganKu Allianz4All is designed to provide individual pro tection covering personal accident, medical and emergency relief, ensuring financial security during unforeseen events. With the re demption of the PTV3.0 voucher, the plan is available at annual premiums starting from as low as RM24, aligning with government efforts to strengthen social protection, es pecially for lower-income house holds. “We are committed to supporting the government’s initiative to provide financial security to all eligible Malaysians through the PTV3.0 pro gramme. PerlindunganKu Allianz4All is

Banking & Finance HLB also won the Digital Transformation of the Year award for revolutionising its collections process through an industry-first, fully integrated web-based platform powered by artificial intelligence. By leveraging real-time API integration, businesses can automate fund transfers on a same-day basis, eliminating manual intervention. Its cash consolidation services also enable clients to centralise funds for better liquidity oversight and recon ciliation. businesses that fail to show empathy. Some 43% of respondents said they had switched brands due to a lack of empathy, while 61% were willing to pay more for companies that genuinely care. The survey highlighted that although artificial intelligence (AI) is recognised for its utility, it cannot replace authentic human connection. About 71% of respondents said AI cannot recreate genuine connections, and 92% valued direct human interaction over round-the-clock availability. Empathy was found to be especially important in financial designed to offer the best coverage in times of need with affordable premiums, ensuring peace of mind for you and your loved ones,” said Allianz Malaysia CEO Sean Wang ( pic ). PTV3.0 is open to two million eligible recipients of Sumbangan Tunai Rahmah (STR) on a first-come, first-served basis. Redemption runs from Sept 1 to Dec 31, 2025. Under the programme, STR recipients may redeem the RM30 government subsidised voucher to help purchase simple and affordable insurance or takaful products. PerlindunganKu Allianz4All offers two plans tailored to different needs. Plan 1 provides coverage of up to RM30,000 for death or permanent disablement due to accident, hospital income of RM50 per day for up to 30 days annually for accident or illness hospitalisation in government hos pitals, up to RM500 for medical expenses in government hospitals,

and RM500 lump sum emergency relief in the event of flood evacuation. The annual premium, including 8% SST, is RM54, but STR recipients only need to top up RM24 with the PTV voucher. Plan 2 offers coverage of up to RM50,000 for death or permanent disablement due to accident, hospital income of RM100 per day for up to 30 days annually for accident or illness hospitalisation in government hos pitals, up to RM750 for medical expenses in government hospitals,

Study reveals that empathy is good for business PETALING JAYA: Zurich Insurance Group has published a new global study revealing that empathy can provide businesses with a competitive edge, as a growing number of consumers are avoiding companies that fail to demonstrate care and understanding. services, with 88% of respondents ranking it as critical – second only to healthcare providers – though only 63% agreed the sector was genuinely empathetic. “In today’s world, empathy is key to shaping customer experience.

Organisations need to embed genuine human connection as a foundation for trust, loyalty, and sustainable growth,” said Zurich Group chief customer officer Conny Kalcher. “Through empathy, businesses can gain a competitive edge and build lasting customer relationships. At Zurich, we see empathy as a learnable skill that forges deeper connections, fuelling trust and loyalty in every interaction.” Zaki said: “Empathy is the thread that runs through all my academic work. Many years of research HLB group managing director and CEO Kevin Lam said: “This isn’t just about winning awards; it’s about reimagining the way we do banking. Two years ago, we set out on our bankwide transformation plan and these accolades prove that we are on the right track. “This vision has defined our operating cadence, where we have re-evaluated existing structures, reimagined the customer journey and unleashed a wave of innovation that is redefining what we can be to our customers.”

The report outlined several recommendations for businesses, including making empathy a central part of corporate strategy, tailoring empathy training for frontline staff, ensuring leadership commitment, and balancing AI with authentic human engagement. Hong Leong Bank scores hat-trick of wins at ABF Retail Banking Awards 2025

Hong Leong Bank head of cash management Alina Grace Tan Kui Kwoon at the Asian Banking and Finance Retail Banking Awards 2025

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