Tune Insurance appoints Malaysia CEO

May 9 2019 by Andrew Tjaardstra

William Foo has been appointed chief executive officer of Tune Insurance Malaysia; Foo was previously chief operating officer at QBE Malaysia.

Tune Protect Group — the parent company of Tune Insurance — announced the appointment on May 8 in a filing with Bursa Malaysia, the Malaysian Stock Exchange.

A statement said: “The company is optimistic that with Foo on board, it will accelerate its growth and transformation towards becoming a leading digital insurer. He brings with him more than 25 years of experience and solid track record, having served in a variety of roles in the general insurance industry.”

Foo (pictured) is an associate of the Malaysian Institute of Insurance, a senior associate certified insurance professional of the Australian and New Zealand Institute of Insurance and Finance, and a registered financial planner.

In January, Tune Protect Group appointed Khoo Ai Lin, former Tune Insurance Malaysia CEO, as group chief executive. Ai Lin, started on January 15 and succeeded Razman Abu Hafidz, who transitioned into an advisory role for the company.

The firm has recently let go of 58 staff to reposition the firm to digital. A filing with the stock exchange, said: “Employees whose applications were accepted will be released from December 2018 till February 2019 in order to ensure a smooth transition process. The payout for the [voluntary separation scheme] is assessed to be approximately M$4 million [US$1 million].”