PolicyStreet Unveils Free Road Tax Initiative for Selected Proton and Perodua Cars to Combat Rising Insurance Premiums

Malaysians driving Perodua Axia, Bezza, Proton Saga, and Iriz can enjoy FREE road tax, while owners of other car models can get up to 70% off when renewing car insurance with PolicyStreet.

KUALA LUMPUR, Malaysia, Jan. 6, 2025 /PRNewswire/ -- As Malaysians navigate the bumpy road of rising insurance premiums, homegrown insurance technology (insurtech) company, PolicyStreet is shifting gears to make car insurance renewals more affordable. Starting today until 28 February, car owners of Perodua Axia, Perodua Bezza, Proton Saga, and Proton Iriz can enjoy a smooth ride into 2025 with FREE road tax when they renew their car insurance through PolicyStreet's car insurance renewal platform. The promotion is an extension of the company's existing promotion, offering Malaysians up to 70% in discounts for road tax.

"At PolicyStreet, we are dedicated to creating solutions that improve financial inclusion for all Malaysians. This free road tax initiative, reflects our mission to make car insurance renewals more affordable and accessible, especially during these challenging times," says Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet.

To take advantage of this promotion, visit PolicyStreet's car insurance renewal platform at car.policystreet.com and request a quote. Customers can choose from five trusted insurers or compare quotes from up to 12 insurers to find the best fit for their budget and needs. For eligible Proton and Perodua models, the cost of road tax will be waived at checkout. Other car owners can still enjoy significant savings on road tax renewal, with discounts of up to 70% available.

In addition, PolicyStreet is offering a 0% interest Easy Payment Plan, allowing customers to pay for their car insurance in 3, 6, or 12-month instalments with credit cards from nine participating banks, including Maybank, CIMB Bank, and Public Bank. This flexible payment option aims to ease the financial burden on Malaysians while ensuring they remain protected amid rising insurance premiums.

Proton and Perodua hold a special place in Malaysian hearts, known for their practicality and affordability. PolicyStreet's focus on these models ensures that everyday Malaysians get a financial boost where it matters most. Combined with discounts for other car makes, this initiative underscores PolicyStreet's mission to empower Malaysians with affordable and accessible car insurance solutions.

This latest initiative is part of PolicyStreet's broader efforts to drive change in the insurance industry by making coverage more Purposeful and Simple for Malaysians. As part of its mission to close the protection gap, PolicyStreet partners with industry leaders such as Shopee, foodpanda, and Carsome to embed new-to-market insurance products into their ecosystems. These include micro-policies tailored for gig workers and customised SME packages, all designed with affordability and accessibility in mind.

Having served over 5 million customers nationwide and partnered with over 200 businesses, PolicyStreet remains steadfast in its mission to close the protection gap for underserved communities. Whether it's through initiatives like free road tax, affordable micro-policies, or digital solutions that simplify the insurance experience, PolicyStreet aims to pave the way for a more financially inclusive future.

For more information on PolicyStreet's innovative insurtech solutions, please visit policystreet.com.

About PolicyStreet

PolicyStreet is a regional full-stack insurance technology (insurtech) group of companies providing cutting-edge digital insurance solutions to businesses and consumers in Southeast Asia and Australia.

PolicyStreet works directly with over 40 life, general, and Takaful providers globally to offer a comprehensive range of products and services, which includes but is not limited to embedded insurance, customised employee benefits, financial advisory and aggregation of insurance, as well as the development of digital solutions to make insurance purposeful and simple for businesses and consumers.

As a licensed Reinsurer, General Insurer and Takaful Operator by the Labuan Financial Services Authority (LFSA), an approved Financial Adviser and Islamic Financial Adviser by Bank Negara Malaysia (BNM), and a licensee of the Australian Financial Services License by the Australian Securities and Investments Commission (ASIC), PolicyStreet is able to underwrite, customise policies, and provide unbiased advice to its clients and partners worldwide.

PolicyStreet is backed by the Malaysian sovereign wealth fund, Khazanah Nasional Berhad, and serves over 5 million customers with over US$ 10 billion in sum insured. In 2024, PolicyStreet was recognised as "Fintech of the Year" at The Asset's Triple A Digital Awards and was the winner of the Fintech Excellence Award for Financial Inclusion at the Singapore Fintech Festival endorsed by the Monetary Association of Singapore (MAS). The company was also ranked as the second-highest Malaysian company in the "High-Growth Companies in Asia Pacific 2024" list by Statista and The Financial Times.