Fintech startup Jirnexu announced it has been approved by Malaysia’s central bank to compare, sell, process payments, and issue e-policies for insurance products.
Jirnexu becomes the first company in Malaysia permitted to sell select general and life insurance products from multiple providers, and the first to build a dedicated ecommerce marketplace for insurance. The firm will soon begin transacting term life and motor insurance directly on their financial comparison site RinggitPlus.com.
The fintech recently won approval to join Malaysia’s Bank Negara (BNM) Financial Technology Regulatory Sandbox, which allows participants to introduce innovative financial technology services and products.
«Our most recent investment round will play a significant role in developing the technology for Malaysians to search and obtain their insurance from a single platform in a matter of minutes,» said Lucas Ooi, director of Insurance at Jirnexu.
