IKBZ plans Myanmar’s first online insurance platform

January 12 2016 by InsuranceAsia News Staff

Myanmar’s IKBZ Insurance has announced plans to offer insurance policies online, hoping to become the country’s first insurer to allow the public to buy policies through the internet.

U Nay Myo Aung, managing director of IKBZ, said the company aims to launch its online platform this month to list the insurer’s 11 different insurance policies.

The online platform will first be available for desktop computer users, with the option to register on mobile devices in the next few months.

IKBZ’s insurance policies include group life, fire, motor and travel insurance. One of its newest products is health insurance, which covers hospital bills with a lump sum payment in the event of accident death.

U Nay Myo Aung also revealed that IKBZ is interested in investing in equities in the future, with the first round of IPOs on the Yangon Stock Exchange offering fresh sources of potential investment.

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