1st November, 2023
CEASING OF OPERATIONS – M/S KASIH RAKYAT (M) SDN BHD
We wish to inform all our partners, associates and agents that M/s Kasih Rakyat (M) Sdn Bhd will cease all operations effective 31/12/2023.
We wish to take this opportunity to thank each and every one of you, who has worked with us one way the other. It was a wonderful journey from the beginning, when we participated in various programmes especially in Micro Insurance. Our selection in the UNCDF Program was the highlight of the company’s commitment to the development of Micro Insurance in Malaysia. It was very unfortunate despite full filling all the requirements of the UNCDF Challenge – Serving the underserved – Financial Inclusion of B40.
Our plan was centred on catering for the insurance needs of the B40 and also giving them an opportunity to earn an income through distribution of Micro Insurance using our platform. We spent a considerable amount of money developing the digital system from purchasing, payments to sending of e-policies all through the HP. We even created a Community Fund from the commissions we earned.
However lack of support from the relevant authorities, and the small margin of profit made the project unviable resulting in huge losses to the company.
Due to the above please note our system will shut down precisely on midnight 31/12/2023. Please note all unexpired Policies will be run off by the respective Insurers. You may contact us for all Claims Assistance.
The Directors of the Company which to put on record our immense gratitude to all those who were involved some way or the other.
Thank You
Hardyal Singh A/L Saudah Singh
Managing Director
KASIH RAKYAT (M) SDN BHD