How much can individual users save on annual car insurance renewal?

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Individual users can save between RM50 and RM450 on their annual car insurance renewal.

Online auto insurance marketplace Bjak.my has facilitated significant savings for Malaysian vehicle owners, with individual users typically saving between RM50 and RM450 per year on their car insurance renewals. This platform allows users to compare offerings from over 10 insurance and takaful operators, a process that can highlight price differences of up to 40 per cent between providers. The cumulative savings for Malaysian vehicle owners through Bjak.my have now exceeded RM90 million, with over three million users having signed up to date.
Savings Driven by Market Liberalisation

The substantial savings experienced by users are a direct consequence of the liberalisation of motor tariffs by Bank Negara Malaysia, which commenced in 2017. This policy shift allowed insurance companies greater flexibility in setting their premiums, leading to a more competitive market. Consequently, the variation in car insurance premiums among different providers can be as high as 40 per cent, creating opportunities for consumers to find more affordable options through comparison.
Bjak.my as a Comparison Platform

Bjak.my functions as a large-scale insurance platform in Malaysia, enabling car owners to compare and purchase insurance online. The service, founded in 2019, streamlines the process of finding car and motorcycle insurance, allowing users to compare options from multiple insurers in under five minutes. This accessibility and efficiency have contributed to millions of private vehicle owners utilising the platform for their insurance needs.
User Experience and Benefits

Customer feedback indicates a high level of satisfaction with the service provided by Bjak.my. Users report that the platform makes it easy to find car insurance with competitive pricing and favourable benefits, thereby saving both time and money. This positive reception is a key driver for the company's ongoing efforts to enhance its services and support Malaysian vehicle owners.

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How much can individual users save on annual car insurance renewal?

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