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The Article

Hostel Hunting, an innovative room rent solutions proptech company launched an insurance policy called HH Protect that covers homeowners. The insurance policy is enabled by PolicyStreet, an InsurTech firm in Malaysia, and underwritten by Allianz General Insurance Company (Malaysia) Berhad (Allianz General), the largest general insurer in Malaysia.

Allianz General’s Head of Digital Partnerships and Innovation, Michael Fong said: “As insurers, our focus is on finding ways to best deliver customer-focused products and services and making them attractive to our customers. While partnerships like this allow us to get creative with how we position insurance in the market, these collaborations are ultimately about the customer. We are very pleased to be working together to be able to better serve, protect and put our customer's worries to rest.” 

Wen Khai, the Chief Executive Officer of Hostel Hunting, commented “As we continue to uplift our customer experience, owners who subscribed to HH+ now can enjoy hassle-free rental guarantees. On top of that, we are providing HH Protect where all units are insured by Allianz General and managed by HH+. This collaboration between Hostel Hunting, PolicyStreet and Allianz General is a step in the right direction for our community, with customer-focused as our utmost value."

The insurance policy under HH Protect encompasses two ways to insure the contents of an owner’s home. Owners may insure their home content on the first loss basis coupled with malicious damage up to RM12,000 . Through HH Protect, HH+ owners, collectively, are covered up to RM12 million coverage from Allianz General.

“We are excited to be partnering with Hostel Hunting and protecting its customers with the right insurance product. At PolicyStreet, we customise our solutions to meet the growing demands of consumers and businesses today by continuously making insurance simple,” said Lee Yen Ming, Chief Executive Officer of PolicyStreet.

Owners who engage Hostel Hunting to rent their property will receive free insurance coverage from HH Protect. This insurance coverage covers household goods and personal effects belonging to the homeowner or family member, contained in the private property. Among other HH Protect benefits included are coverage for furniture, electrical appliances, jewellery, breakage to mirrors and death compensation.

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