PolicyStreet Shakes Up Insurance Market with Aggressive '10+10' Promo

KUALA LUMPUR, Malaysia – December 30, 2025 – As Malaysian drivers prepare for the new year, regional insurtech group PolicyStreet is launching its most aggressive campaign to date, a move set to intensify competition within the nation's car insurance sector. The '10+10' Promo, running from January 2 through the end of April, offers significant savings and flexible payment options, signaling a direct challenge to established insurers and a boon for cost-conscious consumers.

The promotion is strategically designed with a two-pronged approach. For the first 24 days of each month, customers can receive an uncapped 10% discount on their base insurance premium after their No-Claim Discount (NCD) is applied, plus an additional RM10 discount at checkout. Towards the end of the month, from the 25th onwards, the offer shifts to free road tax, capped at RM90. This structure is intended to cater to the varying financial pressures consumers face throughout a monthly pay cycle.

"Our goal is to make car insurance more accessible by offering meaningful savings and flexible options that cater to Malaysians across different financial situations," said Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet, in the company's official announcement. The campaign is poised to not only provide immediate financial relief but also to reshape how Malaysians purchase essential coverage in an increasingly digital world.

A Strategic Play in a Competitive Market

PolicyStreet's aggressive pricing strategy arrives at a pivotal moment for Malaysia's general insurance industry. The sector saw gross written premiums grow by 6.9% in 2024, largely fueled by a robust motor insurance segment. However, this growth has been overshadowed by an 11% decline in underwriting profits, squeezed by rising vehicle repair costs, inflationary pressures, and an increase in road accident claims. In this environment, where profitability is under pressure, a campaign focused on deep, uncapped discounts is a bold maneuver.

While major players like Etiqa have long offered a standard 10% rebate for online renewals, PolicyStreet's '10+10' Promo adds layers of value that differentiate it. The uncapped nature of the 10% discount is particularly noteworthy; for a driver with a base premium of RM1,000 after NCD, the savings amount to at least RM100, plus the extra RM10. The promotion is accessible through specific daily sales windows—from 10 am to 11 am and 10 pm to 11 pm—creating scheduled opportunities for consumers to lock in savings without the need for promotional codes.

By structuring the campaign over four months, the company encourages consumers to move away from last-minute, necessity-driven renewals. Instead, it provides a prolonged window to compare policies from over 40 different insurance and Takaful providers on its platform, fostering more informed decision-making. This emphasis on choice and transparency is a core tenet of the insurtech model, which seeks to disrupt the often-opaque traditional insurance market.

More Than Discounts: The Push for Digital Accessibility

Beyond the headline discounts, the '10+10' Promo is a testament to the growing integration of digital finance solutions into everyday life. The campaign's latter half, featuring free road tax, can be paired with Buy Now, Pay Later (BNPL) services from providers like Atome, SPay Later, and Grab PayLater. This integration directly addresses a key consumer pain point: the large upfront cost of renewing car insurance and road tax. By allowing customers to split this essential expense into smaller, interest-free installments, PolicyStreet is lowering the barrier to staying insured and legally on the road.

The adoption of BNPL for insurance payments reflects a broader trend in Malaysia, where consumers are increasingly comfortable using digital payment solutions for a wide range of goods and services, including financial products. PolicyStreet's platform serves as a one-stop digital hub where users can compare quotes, select add-ons, renew their road tax, and choose a payment method that suits their cash flow, all within a single seamless experience.

This digital-first approach aligns with Bank Negara Malaysia's (BNM) Financial Sector Blueprint 2022-2026, which champions the digitalization of financial services to enhance consumer experience and close protection gaps. The convenience of receiving a quotation link that remains valid for two weeks further empowers consumers, giving them ample time to review their options without pressure before committing during the promotional windows.

Fuelled by Sovereign Wealth, Aimed at Disruption

PolicyStreet's ambitious campaign is not merely a seasonal promotion but a calculated step in a larger growth strategy backed by significant institutional capital. In 2023, the company secured a US$15.3 million Series B funding round led by Khazanah Nasional Berhad, Malaysia's sovereign wealth fund. The investment was made under Khazanah's "Dana Impak" mandate, which focuses on ventures that deliver socioeconomic benefits alongside financial returns.

Khazanah's backing explicitly aims to help PolicyStreet improve insurance penetration among Malaysia's unserved and underserved populations. This mission is evident in the company's efforts to provide insurance for gig economy workers and small-medium enterprises (SMEs), segments often overlooked by traditional insurers. The '10+10' Promo, with its focus on accessibility and affordability, directly aligns with this mandate by making essential coverage more attainable for the wider public.

Furthermore, PolicyStreet's business model appears well-positioned for the future regulatory landscape. BNM recently introduced the Licensing and Regulatory Framework for Digital Insurers and Takaful Operators (DITOs), designed to encourage innovative business models that serve the unserved and enhance consumer experience. As a licensed full-stack insurtech group, PolicyStreet's digital-native approach and focus on inclusivity are in lockstep with the regulator's vision for the industry's future. By combining meaningful discounts with choice and digital convenience, PolicyStreet is not just selling insurance; it is making a compelling case for a new, more consumer-centric way of managing financial protection.