14/09/2026

MONDAY | SEPT 14, 2026

12

BANKING & INSURANCE

Standard fire policies cover EV-related damage: PIAM PETALING JAYA: Standard house owner and fire insurance policies in Malaysia cover specified perils, including fire damage, “regardless of the ignition source”. unattached or portable charging cables typically fall under specialised EV motor insurance policies or add on packages offered by insurers.

Maybank takes part in Monetary Authority of Singapore’s BLOOM initiative PETALING JAYA: Maybank Singapore announced its participation in the Monetary Authority of Singapore’s (MAS) BLOOM initiative, reinforcing its commitment to advancing next generation, best-in-class cross-border

fied electrical modifications/ instal lations,” he said in a statement. Chua advised homeowners to notify their insurers upon installing a permanent EV charger, as declaring electrical upgrades ensures the property’s sum insured reflects current rebuilding costs and helps provide clarity on the policy’s coverage during the claims process. He said property owners should verify that their policy sum insured reflects updated rebuilding costs. – Bernama

surrounding electric vehicle (EV) charging risks, policy coverage limits, and compliance requirements under standard Malaysian motor and property (home/ fire) insurance policies. This followed a recent fire in Cheras involving an EV home charger that reportedly resulted in extensive property damage. Chua said that permanently installed (hard-wired) EV chargers may be categorised under the ‘buildings’ section of a home policy as fixtures and fittings, while

“Insurers require homeowners to take reasonable precautions and maintain electrical safety standards. In assessing claims, insurers will evaluate official investigation reports such as those from the fire department to rule out deliberate acts such as arson, fraud, or non compliance with statutory regu lations, for example, illegal, uncerti

This is subject to the policy terms, conditions and exclusions, and provided there is no fraud, deli berate act or other applicable breach of policy conditions, accor ding to the General Insurance Association of Malaysia (PIAM). The association CEO, Chua Kim Soon addressed key concerns

Generali Malaysia unveils its first accelerator programme

payments and transaction banking infra structure. BLOOM – or Borderless, Li quid, Open, On line, Multicur rency – is an in dustry initiative that seeks to en hance cross-bor der settlement through token ised bank liabi

PETALING JAYA: Generali Malaysia has launched its first accelerator programme – Generali Growth and Innovation Programme (GROW 2026) developed exclusively for the Malaysian market. In a statement, the company said the programme is designed to benefit Malaysia’s broader in surance, health and protection ecosystem by supporting Malaysian insurtech, healthtech and medtech startups, including adjacent tech nologies and innovations with demonstrable insurance outcomes. “At Generali Malaysia, we believe the future of insurance is best built alongside startups solving its toughest challenges. Launching GROW 2026 as our first programme of its kind in Malaysia reflects our commitment to being an active, hands-on partner to the country’s startup ecosystem, not merely an observer. “With the support of Artem PACE, whose accelerator expertise has helped shape this programme from the ground up, we are confident that we can provide startups with the structure and support they need to succeed,” said Generali Insurance Malaysia Bhd CEO and Generali entities in Malaysia head Fabrice Benard. What sets this programme apart from other accelerators is that it

the country. Beyond supporting individual startups, GROW 2026 is intended to strengthen Malaysia’s insurance ecosystem by creating more oppor tunities for collaboration among startups, insurers, investors and industry stakeholders. Through this initiative, Generali Malaysia aims to accelerate the adoption of innovative solutions that improve access to protection, enhance customer experiences, and contribute to the future of insurance in Malaysia. Ultimately, Generali Malaysia hopes that GROW 2026 will drive innovations that make protection more accessible, affordable and relevant for Malaysians. GROW 2026 welcomes appli cations from startups developing innovative solutions with the potential to shape the future of insurance, health and pro tection. Bernard says that with the support of Artem PACE, Generali Malaysia is confident that it can provide startups with the structure and support they need to succeed.

o GROW 2026 is developed to benefit country’s broader insurance, health and protection ecosystem by supporting insurtech, healthtech and medtech startups

lities and regulated stablecoins, enabling a more interoperable, seamless financial ecosystem. This builds on a series of tokenisation milestones for Maybank in Asean, including its role in anchoring the inaugural tokenised sukuk issuance by Malaysian sovereign wealth fund, Khazanah Nasional Bhd, and in com pleting the first on-chain ringgit Singapore dollar foreign exchange conversion and cross-border payment for Yinson Holdings Bhd in real time, under Bank Negara Malaysia’s Digital Asset Innovation Hub. Maybank Singapore country CEO and CEO Alvin Lee ( pic ) said: “Through BLOOM, Maybank aims to help shape the common standards and infra structure principles needed to enable the future of digital finance in Singapore, in collaboration with MAS and industry participants including fintech players. “This aligns with ROAR30, our five year strategic plan to deliver values based offerings, making banking more efficient and accessible especially for small and medium enterprises.” Maybank’s digital investments in tokenisation forms part of its ROAR30 commitment to invest RM10 billion over five years in technology, data and artificial intelligence.

Malaysia and a selected panel of judges appointed for the pro gramme. Top-performing teams will be awarded attractive cash prizes, providing non-dilutive sup port to accelerate their growth. By the end of the programme, participating startups will be better equipped to refine their value pro position, strengthen their product market fit, build mean

require payment solutions that are not only efficient, but also secure and scalable as transaction volumes grow. Sound Box Plus reflects our continued commitment to helping merchants operate with greater confidence by simplifying payment acceptance across multiple channels while strengthening payment assurance and operational efficiency. As digital payment adoption continues to accelerate, we remain focused on delivering practical, accessible solu tions that support business growth and strengthen Malaysia’s cashless ecosystem.” Beyond operational efficiency, Sound Box Plus enhances payment assurance through real-time voice provides selected startups with direct access to Generali Malaysia’s leaders, structured mentorship, and a clear pathway towards stronger product-market fit, meaningful commercial part nerships and investment readiness, all within a programme built specifically for Malaysia’s growing innovation ecosystem. Over the course of the programme, selected startups will participate in a series of workshops and receive strategic mentorship from ecosystem and industry leaders. This support will help them refine their products and technologies, deepen their under standing of the insurance value chain, strengthen their go-to market strategies, enhance com pliance and governance processes, improve financial planning and fundraising capabilities, and more. The programme will culminate in a Demo Day, where shortlisted startups will pitch to Generali

ingful industry re lationships, and ac celerate their jour ney towards com mercialisation and investment readi ness. As its first dedi cated innovation initiative, GROW 2026 reflects Generali Malaysia’s commit ment to investing directly in the

startup eco system of

RHB Sound Box Plus enables seamless, secure payment acceptance PETALING JAYA: As Malaysian businesses accelerate digital payment adoption, RHB Banking Group has introduced Sound Box Plus, an integrated multipayment acceptance device designed to help merchants simplify operations, strengthen payment assurance and support business growth. As businesses scale and trans the device enables fast, seamless, and secure payment acceptance while reducing operational complexity for merchants. alert notifications that provide immediate confirmation of successful transactions, helping merchants mitigate risks such as fraudulent payment claims. Supported by tap payment limits, while DNQR transaction limits remain subject to individual online banking thresholds.

Banking & Finance banking managing director Nurjesmi Mohd Nashir said, “Businesses today Building on the success of RHB’s earlier sound box innovations, including the Static and Dynamic DNQR Sound Box solutions, Sound Box Plus represents the next evolution in the group’s efforts to support secure, efficient and cashless business operations. The solution also offers merchants a more cost-efficient alternative to conventional card ter minals while maintaining broad payment acceptance capabilities. RHB Bank group wholesale

RHB’s robust security infra structure, the device ensures transactions are processed securely and reliably. The device also eliminates the need for printed receipts, supporting businesses in adopting more sustainable, digital-first operations while ensuring reliable payment accep tance during peak business hours. Sound Box Plus is particularly suited for merchants with card transaction sizes below RM250, aligning with NFC

action volumes increase, managing multiple payment channels efficiently becomes critical. Sound Box Plus supports DuitNow QR (DNQR) as well as debit and credit card payments within a single device. Equipped with Near Field Communication (NFC) technology, built-in SIM connectivity, and real-time voice payment alerts,

Sound Box Plus enhances payment assurance through real-time voice alert notifications.

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