Posted by shpg22 > 2020-02-13 23:24 | Report Abuse

Maybe the CIO & COO is all Tony's man. Just put there to suck money. He aint a Saint. I already highlight TUNEPRO high and growing management expenses few years back. One thing that is sure to grow is the management expenses.

Posted by Jeffreyteck > 2020-02-14 09:55 | Report Abuse

Sabar, sabar, they all makan gaji only, whether results is good or bad. Afterall minority can't do much. Only authority talking shok that SHs must do this do that.
Est push up then follow by poorer result announcement?

Posted by drkervokian > 2020-02-14 21:26 | Report Abuse

If you makan gaji anda still Don't know how to staunch a combined ration above 1, you're seriously not worth to be employed la.

Give me half the CEO gaji and I can sort it out in 9 months.

VSS the useless head of departments and double the salary of working levels that actually do the job !

There's seriously NO strategy to staunch the bleed and grow their pie.

All ratios point to one thing - siloes in management

Posted by Jeffreyteck > 2020-02-15 11:40 | Report Abuse

Strongly agreed. Unfortunately in the real world, KPIs most of the time only for subordinates but not for the top. So when comes to VSS, subordinates will go first instead of top. When come to salary increment by %, top will get higher in absolute figure, that is also the root course of rising income discrepancies.

Posted by yfchong > 2020-02-16 14:29 | Report Abuse

No new strategy.?

Posted by drkervokian > 2020-02-16 23:26 | Report Abuse

Worse than no strategy; you have a product called "Sports+" with a marketing blurb "Get Sports+ extreme sports protection" but all of the below is excluded.

a) Professional Sports Persons
b) All forms of martial arts such as boxing, wrestling, karate.
c) Aerobatics flying, sky surfing, wing suit flying.
d) Base jumping.
e) Cliff jumping, cliff diving and/or coasteering.
f) Expedition to generally inaccessible and remote areas of a country or areas previously unexplored.
g) American football, all forms of rugby, aussie rules and the likes.
h) Heli-skiing
i) Rock or snow or ice or alpine climbing performed solo, freestyle or climb without ropes and all forms of
solo climbs.
j) Sailing and/or yachting offshore.

What else is then extreme sports? Weekend badminton with uncles ka?

I tell you guys, Fire the head of products, must be totally out of touch with common sense.
And for all you know reporting to dead weight head of strategy.

Posted by drkervokian > 2020-02-16 23:36 | Report Abuse

Another example of having no strategy is making no effort for marketing scanning.

PErsonal Accident insurance actually excludes "motorcyclists".
Immediately it becomes the most useless PA insurance ever.

At least Takaful Malaysia smart enough to say exclude only "dispatch riders".

Allianz even better, specific insurance for Motorcyclists. Cause they have smart people to know that motorcyclists are higher risk, so therefore premiums and cover needs to commensurate the risk.

So seriously. A CEO who makes 2 mil a year. a HEad of strategy who don't seem to do any market scan before introducing new products.

Why is Tan Sri Fernandez keeping all these dead weights!? Is he blind, deaf or no one is telling him the truth?

Posted by general t > 2020-02-17 17:40 | Report Abuse

i wondering why you are so -ve about this tunepro. ?
and do you own any share in this counter ?
if I were you quick quick sale and run. no point complaining and murmuring here.

no one will say you are hero and thanks you.

Posted by Jeffreyteck > 2020-02-17 23:10 | Report Abuse

Investors voice is important instead of simply support despite price dropped from above 1.40 about 3 years ago to the current level. If management and bods did a good job, believe they will give credit to them too.

Posted by bose00 > 2020-02-17 23:12 | Report Abuse

got nothing to lose to buy at this price

Posted by shpg22 > 2020-02-18 12:47 | Report Abuse

Haha... Novice thinking. If it drop to 0.25, already a 50% drop. It doesn't matter what price you buy. If you buy bad company, chances of losing is still there.

Posted by drkervokian > 2020-02-18 14:55 | Report Abuse

@general t; you paid attention, that's good :)

Posted by Sslee > 2020-02-19 08:28 | Report Abuse

Dear all,
For your action!
https://klse.i3investor.com/blogs/Sslee_blog/2020-02-18-story-h1483850146-SC_wants_you_to_participate_effectively_at_an_Annual_General_Meeting.jsp

Thank you

Posted by Timinlcw > 2020-02-20 19:18 | Report Abuse

dividend is coming .......

Posted by junnian0814 > 2020-02-21 16:55 | Report Abuse

how u know? any insider news? because usually they will give out in June. Can share little bit?

Posted by Timinlcw > 2020-02-21 21:31 | Report Abuse

just buy

Posted by Timinlcw > 2020-02-21 21:31 | Report Abuse

when the covid 19 over , at least 60 cts

Posted by Jeffreyteck > 2020-02-27 15:50 | Report Abuse

ST 0.40.

Posted by Jeffreyteck > 2020-02-28 10:15 | Report Abuse

Est no exception, Q4 down, Q1 & Q2 down too amidst virus issues and political uncertainty. Even snap poll may not able to bring the country to the right direction as "value" of majority may have been brain washed.

Posted by Victor Yong > 2020-02-28 10:43 | Report Abuse

time to buy... nowadays people realise the importance of insurance when they fly.. better proxy to airasia

Also~
This announcement is based on the information in the Notice of PersonCeasing to be a Substantial Shareholder from River and Mercantile AssetManagement LLP dated 20 December 2019 received by the registered office of TuneProtect Group Berhad on 21 December 2019.You are advised to read the entire contents of the announcement or attachment.To read the entire contents of the announcement or attachment, please accessthe Bursa website at http://www.bursamalaysia.com


Submitted By:



23/12/2019 07:00 AM

Posted by Victor Yong > 2020-02-28 10:48 | Report Abuse

tune protect could be disposed off by the major shareholders too..time to accumulate

Posted by Victor Yong > 2020-02-28 10:48 | Report Abuse

Price Target
Date Open Price Target Price Upside/Downside Price Call Source
10/01/2020 0.565 0.62 +0.055 (9.73%) HOLD AmInvest
22/11/2019 0.58 0.70 +0.12 (20.69%) BUY TA
22/11/2019 0.58 0.72 +0.14 (24.14%) BUY MIDF

Posted by Victor Yong > 2020-02-28 10:49 | Report Abuse

Tune Protect - Disposes entire stake in Laka Ltd
Author: AmInvest | Publish date: Fri, 10 Jan 2020, 11:01 AM

We maintain our HOLD call on Tune Protect Group (TPG) with an unchanged fair value of RM0.62/share pegging the stock to FY20 P/BV of 0.8x, supported by an ROE of 9.3%.
The group announced that its wholly-owned subsidiary, Tune Direct Ltd (TDL) has entered into an S&P agreement with LocalGlobe X, L.P (LocalGlobe) and Creandum V, L.P (Creandum) (collectively, the buyers) to dispose of its entire 9.99% stake in Laka Ltd (Laka) based in the UK.
The rationale for the disposal of its investment in Laka was to enable it to utilise the sales proceeds to strengthen its own digital and technological capabilities.
Its shareholdings in Laka will be sold to LocalGlobe and Creandum for £555,369.36 or RM3mil based on an exchange rate of £1: RM5.40. The selling price was derived on a willing-buyer-willing-seller basis.
Recall in June 2018, the group announced its acquisition of a 9.99% stake in Laka, an insurtech startup company which operates on a crowd insurance model to rival traditional premiums. Laka offers non-conventional peer-to-peer protection to members of a same community. The intention of TPG investing was to leverage the technological expertise of Laka to support its aspirations to become a leading digital insurer. The total cost for the investment back in 2018 was £499,478.07 or RM2.67mil and it was funded internally.
With a selling price of circa RM3mil, an estimated one-off gain of RM0.3mil is expected to be recognised in the group’s upcoming 1Q20 results which are trivial in our opinion. The transaction is expected to be completed by 31 March 2020.
The disposal of its investment in Laka is not expected to impact the group’s core earnings. Hence, we are leaving our net profit estimates unchanged.
Source: AmInvest Research - 10 Jan 2020

Posted by Victor Yong > 2020-02-28 10:50 | Report Abuse

could it be emerged again this year?

Entry of South Korean investor in Tune Protect could remove ...www.theedgemarkets.com › article › entry-south-korean-investor-tun...
Sep 11, 2017 - KUALA LUMPUR (Sept 11): The potential entry of a South Korean investor into Tune Protect Group Bhd could remove any potential share overhang, while helping the insurer to accelerate growth of its business overseas, according to UOB Kay Hian Securities (M) Sdn Bhd. “Assuming that ...

Posted by Victor Yong > 2020-02-28 10:59 | Report Abuse

covid 19 , a blessing in disguise for insurance company. :) the importance of protection when we fly

Posted by alexsee > 2020-02-28 11:19 | Report Abuse

if today report negative result, will drop more till RM0.35 then RM0.3,then u dare to average down or fear to cut loss? or just short term hold become super long term hold.. cos you will say to yourself, nvm lar.. keep it to get 3 cents dividend better than FD :) Next quarter should be even worst, cos the virus. many big fund already run away.. when people fear you brave?? welcome bear bear :)

Posted by Victor Yong > 2020-02-28 14:04 | Report Abuse

good to accumulate, super low now

History - direct biz transaction

Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks
25/02/2020 00:00:00 0.5300 0.0600 365,000 365,000 193,450 193,450 0.5300 0.0486 -

Posted by Victor Yong > 2020-02-28 15:03 | Report Abuse

Tune Protect Group Bhd is embarking on an ambitious three year strategy plan called GAIN that will see the group diversifying its business beyond insurance protection.

GAIN compromises Tune Protect's four core business segments namely Global business, AirAsia ecosystem, Insurtech capabilities and National Business.

"Our near-term focus within the global business is to focus in partnerships within Asean and Indochina markets which present opportunities in retail and digital as they both have a sizeable young population, are relatively low in insurance penetration and are rapidly embracing digitisation,"

Posted by Victor Yong > 2020-02-28 15:03 | Report Abuse

"This is because within Global business, we are expanding from pure travel reinsurance to other retail lifestyle lines of business, as well as technology capabilities," she added.

Through GAIN, Khoo expects to have at least 42 million policies by 2022. It has acquired some 10 million policies a year.

Posted by Victor Yong > 2020-02-28 15:04 | Report Abuse

The MoA involves an Indonesian insurer and the national association of tours and travel agencies to distribute travel insurance through and integrated B2B online platform offered by Tune Protect for travel agents.

Posted by Victor Yong > 2020-02-28 15:04 | Report Abuse

Khoo shared that its travel business had grown in tandem with AirAsia's expansion, which has seen its passengers carried grow to 80 million last year.

"We fully intend to tap into this massive network to reinforce our strategic partnership not just within the AirAsia Group but also across the Tune Group ecosystem.

"Our Dynamic Pricing initiative went live in several markets in 1Q19 and that will provide four per cent incremental revenue to us,” Khoo said.

The company is looking at a number of firms to either partner or acquire in order to drive its Insurtech capabilities.

"We are actively seeking these firms that we can either acquire or grow a strategic partnership with. It is very important, however, that these firms will strategically help with our push forward and that we can monetize from them.

"We are looking beyond vendors and the likes, but instead an acquisition that is on the same level as us," she said.

Posted by Jeffreyteck > 2020-02-28 15:10 | Report Abuse

Will revisit when touching 0.40.

Posted by Victor Yong > 2020-02-28 15:27 | Report Abuse

:)

The share price of Tune Protect Group Berhad has nearly halved from a year ago; it was trading at RM0. 80 when I attended this year's AGM in June. Unfortunately, it's even worse for those who got in at the IPO price of RM1. 55 back in 2013.Jun 13, 2018
Industry: Insurance

Posted by Victor Yong > 2020-02-28 15:29 | Report Abuse

Already with a solid CEO now. continuous improvement since 2018 :)


Here are eight more key points I took away from the 2018 Tune Protect AGM:

1. Tune Protect targets to improve its combined ratio to 85% by 2020. The management has taken initiatives to improve the ratio by reviewing its pricing strategies and underwriting terms, and improving its cross-selling and claims operational efficiency. If the management achieves their target over the next three years, it will be a great improvement from the current combined ratio of 94% in 2017.

2. AirAsia contributed around 60% of Tune Protect’s bottom-line in 2017. As Tune Protect was appointed by AirAsia to manage their insurance-related products, it is not surprising that Tune Protect relies heavily on AirAsia to sell its travel insurance. The reliance, however, has been trending down (in terms of proportion) over the years as the company has ventured into general insurance, direct selling to consumers via TuneProtect.com, and partnering with other airlines.

3. Tune Protect distributes travel insurance through other airlines such as Cebu Pacific, AirArabia, Cambodia Angkor Air and, recently, Wataniya Airways. Tune Protect is also allowed to work with AirAsia’s competitors to create a win-win situation. This is a huge plus point as it allows Tune Protect to expand its distribution network. Obviously, no confidential data is shared between the airlines as some of them compete directly with one another.

4. Tune Protect intends to spend RM25 million over the next three years to become a leading digital insurer. The Minority Shareholders Watch Group wanted to know the breakdown of the company’s digital spending and the management stated that the budget will be spent on investment in technology, personnel, e-tools, InsurTech capabilities, and digital marketing.

5. Contract and insurance payables (free float) hit a record high of RM717 million in 2017, but its investment yield was a record low of 3.5%. This is an area where I believe the board should spend more time and, if necessary, revisit their investment mandate as the float has been earning relatively low returns over the last few years. I think there is large untapped potential for Tune Protect to earn a higher return as the management seems to focus only on the core underwriting insurance business.

6. The take-up rate for travel insurance averaged 14% for 2017. It is a good improvement as the take-up rate was in the single digits in the first half of 2017 after MAVCOM enforced the opt-in ruling. Without the bundling initiative, the result could have been worse for 2017. The management deserves big credit for turning things around despite the poor results initially.

7. No share buyback is in sight as Tune Protect’s cash balance dropped to RM7.5 million in 2017 from RM24.0 million in 2013. A shareholder suggested that the company consider buying back its shares as the price has come down quite significantly, but the chairman explained that Tune Protect doesn’t have the financial resources to do so.

8. Tune Protect seems to have high leadership turnover with two CEOs leaving since its listing. Razman, previously the chairman, eventually stepped in as the CEO after Junior Namjick Cho abruptly resigned as CEO in 2016. There wasn’t any mention about the sudden change of CEO in the annual report. My friend, Lawrence, was eager to find out why the company has such a high CEO turnover and how changes in leadership will affect the company’s business execution moving forward. To his dismay, the board seemed to dodge his question and assured investors they are not expecting a change in CEO again.

Posted by Victor Yong > 2020-02-28 15:33 | Report Abuse

new ceo's performance will be out today later :)

Tune Protect appoints Khoo Ai Lin as Group CEO
CORPORATE NEWS
Tuesday, 15 Jan 2019

11:18 AM MYT

KUALA LUMPUR: TUNE PROTECT GROUP BHD has promoted the head of its insurance business in Malaysia, Khoo Ai Lin, as group chief executive officer.

Khoo, 50, succeeds Razman Abu Hafidz who has move on to take up an advisory role for the company.

In a statement today, Khoo said her aim in this new role is to deliver the group’s digital agenda by accelerating expansion of international businesses and leveraging the AIRASIA and Tune Group eco-system.

“I look forward to working closely with the group’s management team to accelerate expansion of international business while continuing to

strengthen the Group’s strategic pillars such as being a leader in product innovation, expanding distribution channels and delivering exceptional customer experience,” she said.

Posted by Victor Yong > 2020-02-28 16:19 | Report Abuse

fell too quickly... rebound if good results , anyway, minimum risk, already fallen too quickly :)

Recent Prices
Date Open Range Close Change Volume
27/02/2020 0.47 0.465 - 0.475 0.465 -0.005 (1.06%) 593,800
26/02/2020 0.47 0.465 - 0.475 0.47 0.00 (0.00%) 1,090,700
25/02/2020 0.46 0.46 - 0.47 0.47 0.00 (0.00%) 1,193,600
24/02/2020 0.485 0.47 - 0.485 0.47 -0.025 (5.05%) 2,026,200
21/02/2020 0.49 0.49 - 0.495 0.495 0.00 (0.00%) 541,100
20/02/2020 0.49 0.485 - 0.495 0.495 +0.005 (1.02%) 394,200
19/02/2020 0.49 0.485 - 0.495 0.49 0.00 (0.00%) 471,400
18/02/2020 0.505 0.49 - 0.505 0.49 -0.015 (2.97%) 2,032,600
17/02/2020 0.49 0.485 - 0.505 0.505 +0.015 (3.06%) 1,213,000
14/02/2020 0.48 0.48 - 0.495 0.49 +0.015 (3.16%) 2,553,200
13/02/2020 0.475 0.475 - 0.48 0.475 0.00 (0.00%) 882,300
12/02/2020 0.48 0.475 - 0.48 0.475 -0.005 (1.04%) 861,100
11/02/2020 0.475 0.475 - 0.48 0.48 +0.005 (1.05%) 740,800
10/02/2020 0.48 0.47 - 0.48 0.475 -0.01 (2.06%) 1,209,100
07/02/2020 0.495 0.475 - 0.495 0.485 0.00 (0.00%) 2,151,200
06/02/2020 0.48 0.475 - 0.49 0.485 +0.005 (1.04%) 1,782,100
05/02/2020 0.47 0.47 - 0.49 0.48 +0.01 (2.13%) 1,848,900
04/02/2020 0.475 0.465 - 0.475 0.47 -0.005 (1.05%) 2,368,000
03/02/2020 0.49 0.465 - 0.49 0.475 -0.03 (5.94%) 3,815,400
31/01/2020 0.525 0.505 - 0.525 0.505 -0.02 (3.81%) 2,567,500

Posted by Victor Yong > 2020-02-28 16:26 | Report Abuse

a blessing in disguise for insurance company from covid 19... passengers will be more likely to buy travel insurance, medical insurance, etc

Posted by Victor Yong > 2020-02-28 16:27 | Report Abuse

airasia fell, tune fell :) rather opt for tune protect, as a proxy for airasia. insurance company is profitable always. :)

Posted by Victor Yong > 2020-02-28 16:29 | Report Abuse

probably M&As in the insurance industry pretty soon due to insuretech, etc

Posted by Victor Yong > 2020-02-28 16:30 | Report Abuse

opportunity to acquire insurance company at fire sale price now with the potential in insuretech where tune protect is quite strong. potential target for M&A

Posted by Victor Yong > 2020-02-28 16:37 | Report Abuse

if new cabinet is formed during weekends, next week back to 50sen and above probably

Posted by Victor Yong > 2020-02-28 18:50 | Report Abuse

Profit UP good

5230 TUNEPRO TUNE PROTECT GROUP BERHAD
Quarterly rpt on consolidated results for the financial period ended 31/12/2019
Quarter: 4th Quarter
Financial Year End: 31/12/2019
Report Status: Unaudited
Submitted By:
Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period
31/12/2019 31/12/2018 31/12/2019 31/12/2018
RM '000 RM '000 RM '000 RM '000
1 Revenue 125,832 140,419 500,801 566,122
2 Profit/Loss Before Tax 12,285 9,588 61,648 55,070
3 Profit/(loss) attributable to ordinary equity holders of the parent 10,638 10,796 50,677 49,505
4 Net Profit/Loss For The Period 11,360 11,205 58,051 52,918
5 Basic Earnings/Loss Per Shares (sen) 1.42 1.44 6.74 6.59
6 Dividend Per Share (sen) 0.00 0.00 3.00 3.00
As At End of Current Quarter As At Preceding Financial Year End
7 Net Assets Per Share (RM) 0.7400 0.7000
Remarks:
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

Posted by junnian0814 > 2020-02-28 19:03 | Report Abuse

I quite amaze when aa & aax result like shit but tune still ok. Although their Revenue drop but they successfully increase the PAT.

Can you imagine what if the 2nd half of the year the revenue increase? 1st quarter we cannot judge because now we have global covid -19 problem. 2nd quarter I believe still will affect a little bit we need to wait till 3rd qr.

After take a look on their result. I will still hold & look for better price to bargain to avr down!

Posted by Victor Yong > 2020-02-28 23:38 | Report Abuse

Tune Protect registered 9.7% PAT growth for 2019

KUALA LUMPUR, 28th February 2020- Tune Protect Group Berhad (‘Tune Protect’ or
‘the Group’; TUNEPRO, 5230) posted a Profit After Tax (‘PAT’) of RM11.4 million with
Operating Revenue (‘OR’) of RM125.8 million and Gross Written Premiums (‘GWP’) of
RM114.8 million for the fourth quarter of 2019 (‘4Q2019’).
For the 4Q2019, the Group’s Profit Before Tax (PBT) and GWP increased 28.1% and
11.0% year-on-year (YoY) respectively. The Group’s PAT for 4Q2019 increased
marginally by 1.4% YoY to RM11.4 million while the Group’s OR declined 10.4% YoY.
For the full year ended 31
st December 2019 (FY2019), the Group’s PAT ended higher by
9.7% YoY to RM58.1 million, while GWP and OR reduced 10.6% and 11.5% YoY to
RM463.9 million and RM500.8 million, respectively.
Growth in the Group’s 4Q2019 PBT was largely driven by favourable prior year claims
experience, lower combined ratio and higher investment income. The Group’s
management expenses improved to RM35.0 million and combined ratio reduced
substantially from 101.1% in 4Q2018 to 88.8% in 4Q2019.
4Q2019 investment income increased 4.5% to RM8.8 million, while FY2019 investment
income was higher by 8.3% to RM31.5 million.
The Group’s strong GWP performance in 4Q2019 was driven by higher non-motor
business recorded by Tune Protect Malaysia (TPM), the Group’s Malaysian General
Insurance subsidiary.
“The Group’s commendable PAT recorded in FY2019 was a result of our GAIN
transformation strategy and ongoing efforts to improve operational efficiencies,” said
Khoo Ai Lin (‘Ai Lin’), Group Chief Executive Officer of Tune Protect.
Improvement in net claims and expenses fueled TPM’s PAT growth
TPM’s PAT increased fourfold from RM1.8 million in 4Q2018 to RM9.2 million in 4Q2019.
Likewise, TPM’s FY2019 PAT rose 61.8% YoY to RM34.1 million, largely driven by
favourable claims experience arising from our portfolio restructuring initiatives, lower
management expenses due to lower impairment and gain in investment income.

Posted by Victor Yong > 2020-02-28 23:39 | Report Abuse

In 4Q2019, TPM saw improvements in net claims by 44.1% due to favourable claims
experience and lower management expenses by 28.8%. TPM also posted a 11.4% YoY
increase in GWP to RM95.7 million, mainly driven by non-motor segments.
Although TPM recorded decline in GWP for the full year 2019, its GWP mix is heading in
the right direction stemming from our aspiration to grow the preferred segments. TPM is
working towards achieving the optimal portfolio mix of Motor (below 35%) and Non-motor
(above 65%), as part of the Group’s strategy to ensure the sustainability and profitability
of its Malaysian General Insurance business.
Expanding our Reinsurance presence in ASEAN
Tune Protect Re (TPR), the Group’s reinsurance arm, recorded a 36.8% YoY decline in
4Q2019 PAT to RM6.2 million mainly due to the change in the intra-group premium
retention arrangements for its Malaysia travel business. The decline is cushioned by the
stronger performance from its three largest travel markets after Malaysia - Thailand, the
Philippines, and Indonesia, in tandem with the growth of its airline partner.
In 4Q2019, TPR’s business in Thailand and Indonesia posted a premium growth of 39.6%
and 34.2%, aided by the Group’s revenue optimisation initiative for AirAsia.
Lower share of results from Overseas Ventures
The Group’s FY2019 overseas ventures declined by 10.4% YoY from RM4.9 million to
RM4.4 million, and this was mainly a result of the switch to opt-in setting on the AirArabia
in-path booking platform.
The impact of the decline is cushioned by the 5.4% growth in travel business for Tune
Protect Thailand (“TPT”), on the back of the positive response to the revenue optimisation
initiative, in addition to the higher revenue from Tune Protect EMEIA’s B2B channels with
policies issued increasing a commendable 48.8% YoY.
In December 2019, Tune Protect EMEIA commenced its partnership with SalamAir, the
first low-cost carrier in Oman, offering travel insurance in four key markets in the Middle
East, namely Oman, the United Arab Emirates, Kuwait and Qatar. There are plans in the
pipeline to acquire more markets in the 2020 expansion trajectory. Based on performance
to date, the Group is already seeing promising results, at this early stage. SalamAir
currently flies to 27 destinations across the Gulf Corporation Council (GCC), Asia, Africa
and the Indian subcontinent.

Posted by Victor Yong > 2020-02-28 23:39 | Report Abuse

GAIN in 2020 (Go ASEAN, AirAsia Ecosystem, Insurtech capabilities and
National Business)
Moving forward, the Group aims to strengthen its business by exploring more strategic
partnerships or acquisition opportunities in Indonesia, Vietnam and the Philippines while
growing its airline partnerships including the likes of SalamAir.
The Group plans to unlock further potential and synergies with its affiliates including
customer acquisition and cross-selling activities within the AirAsia ecosystem.
The Group is also looking at introducing a mobile apps with self-manage claims function
as part of its turnkey digital insurance enabling platform.
The Group launched several new products in 2019, including Auto Buddy, Business
Shield, Foreign Workers PA and the opt-in feature for motor insurance, Pay-As-You-Drive
(PAYD). For 2020, the Group aims to continue its innovation in developing new products
for consumers - including a new motor insurance product. It also aims to optimise its
distribution channels by targeting at preferred segments of motor and non-motor portfolio
while investing in technological capabilities.
Strong Fundamentals
In the near-term, though the COVID-19 outbreak has impacted the global economy,
particularly the travel and tourism industry, the Group remains cautiously optimistic that it
will regain growth momentum in the second half of the year. Several countries in ASEAN
have announced initiatives to cushion the impact of COVID-19 on the region’s economy
and particularly for Malaysia, the recent budget stimulus announcement to boost the local
travel and tourism industry will help to ease the impact of COVID-19.
The Malaysian economy is also not spared from the impact of the current political
uncertainty which is foreseen to ease once the new government is formed.
Notwithstanding these factors, Tune Protect believes that its transformation initiatives,
including the GAIN strategy which encompasses beyond Travel insurance and Malaysia
market, will help the Group weather the challenges in 2020.
“We have a good spread across multiple lines of business and our fundamentals remain
strong. We believe that the Group is in shape to weather the challenges and is in a
good position to prosper when the travel industry recovers,” Ai Lin concluded.

Posted by Victor Yong > 2020-02-28 23:39 | Report Abuse

will recover next week :)

Posted by Victor Yong > 2020-02-28 23:41 | Report Abuse

OTW up after the results :)

Tune Protect and SalamAir in strategic tie-up
CORPORATE NEWS
Friday, 21 Feb 2020


“In line with our aspiration to become the leading digital insurer, we are constantly on the lookout for strategic partnerships to provide digital travel protection, ” said Tune Protect Group’s chief executive officer Khoo Ai Lin.

KUALA LUMPUR: Tune Protect Commercial Brokerage LLC has entered into a strategic partnership with SalamAir, Oman’s first low-cost airline, offering passengers an attractive range of travel protection benefits.

The travel protection products are specially designed for SalamAir travellers, offering benefits such as personal accident benefits, hospital allowance, emergency medical evacuation and repatriation, travel inconvenience and other travel-related benefits.

“In line with our aspiration to become the leading digital insurer, we are constantly on the lookout for strategic partnerships to provide digital travel protection, ” said Tune Protect Group’s chief executive officer Khoo Ai Lin in a statement yesterday.

“With this partnership, the passengers from the European, Middle East, Indian and African region will benefit by the delightful customer experience this home-grown airline offers, with options for extra luggage, seat and meal selections, ” she added. — Bernama

Posted by Tang Khangseng > 2020-02-29 00:25 | Report Abuse

Show me the money!!

Posted by shpg22 > 2020-02-29 10:15 | Report Abuse

Next quarter will be worst. Fear of travel has hit the industry. Anyway travel insurance doesn't include pandemic also.