Chubb And Atome Forge Partnership To Strengthen Consumer Protection Across Southeast Asia

In a significant move to enhance consumer protection in Southeast Asia, Chubb, a global insurance leader, has joined forces with Atome, a premier digital financial services platform in the region. This strategic partnership aims to co-develop a suite of insurance products tailored for Atome's customer base across Singapore, Malaysia, the Philippines, and Indonesia. This collaboration marks a pivotal step in leveraging technology to offer essential protection services, thereby addressing the insurance protection gap in Southeast Asia.

The inaugural product from this collaboration, named Bill Secure, is now available to consumers in Singapore and is slated for release in Malaysia later this month. Designed specifically for users of buy now, pay later services, Bill Secure offers coverage up to five times the transaction amount in cases of permanent disability or accidental death. This ensures that either the insured or their next-of-kin can manage the payment of the purchased item, with any remaining balance benefiting the insured or their estate.

Ben Howell, Chubb's Regional Head of Consumer for Asia Pacific, emphasized the company's dedication to expanding consumer protection through digital, relevant, and affordable insurance solutions. Howell highlighted the partnership's role in enabling families across Southeast Asia to access vital protection services. Bernard Chan, Chief Operating Officer at Atome, reflected on the company's evolution from a buy now, pay later service to a comprehensive digital financial services platform. Chan underscored the commitment to empowering customers by offering customized products that cater to their evolving needs through responsible financing and risk-managed credit.

The second product set to launch under this partnership is Shopping Secure, expected in the second quarter of this year. This initiative not only underscores both companies' dedication to enhancing financial well-being but also aligns with their mission to promote digital and financial inclusion through innovative technology.

This partnership between Chubb and Atome represents a forward-thinking approach to consumer protection in Southeast Asia. By combining Chubb's expertise in insurance with Atome's innovative financial services, this collaboration is poised to deliver significant benefits to consumers across the region.