VSure Expands into the UK to Deliver Digital Insurance to Small Business Communities

VSure.life, Malaysia’s first on-demand lifestyle digital insurer approved by the Central Bank of Malaysia under the Fintech Regulatory Sandbox, announced its expansion to the United Kingdom at the High Commission of Malaysia in London. The expansion into the UK aims to modernise the traditional insurance market by revolutionising the digital insurance landscape, and to make it affordable for small businesses to access insurance collectively.

“Our launch in the UK represents a significant step forward for the company in becoming a serious player in using technology to revolutionise the insurance industry globally. Having a foothold in the UK and partnering up with local players will give us a strong platform and profile to continue expanding internationally. We are also proud to have the support of the ecosystem from the Malaysia Digital Economy Corporation (MDEC) for our growth plans,” commented VSure Group’s Co-founder, Chief Executive Officer (CEO) & Managing Director Eddy Wong.

The establishment of VSure UK at the Malaysian High Commission in London also saw the company announcing its strategic partnership with Pro MGA Global Solutions and McGill & Partners with the support of MDEC and the Malaysian High Commission.

“VSure is an innovative and revolutionary scale-up that is transforming the traditional insurance industry. MDEC is proud to have supported VSure in their journey, especially through participation in the MDEC x Alibaba Ant Financial 10x1000 Leadership & Innovator Program, MDEC’s eBerkat platform and Southeast Asia Tech Innovators Workshop.

“VSure’s expansion to the UK is in line with the goals and vision of Malaysia Digital, the national strategic initiative to enable Malaysian businesses to play a leading part in the global digital economy. We congratulate VSure on their expansion and look forward to working closely with them to drive the development of Malaysia’s Digital focus sectors, particularly Fintech and the Islamic Digital Economy,” MDEC Chief Executive Officer (CEO) Mahadhir Aziz.

As part of the announcement, Gary Ross, was appointed as the VSure UK CEO to further solidify VSure's presence in the UK. Gary has over 30 years of experience in the UK insurance industry and has held numerous leadership roles in various organisations over the course of his distinguished career.

“Being a part of VSure is an exciting step in transforming the UK insurance industry to provide more simple, affordable, and flexible solutions to empower and grow local business communities. VSure have all the necessary approvals and licenses from regulators and cannot wait to start making waves locally," said Gary Ross.

As an appointed representative of Pro MGA Global Solutions, the company has obtained its Managing General Agent (MGA) licence. This enables VSure to carry out regulated insurance activities in the United Kingdom, beginning with community-based commercial insurance programmes later this year.

“As part of our strong partnership approach, we are excited to work with VSure, especially uplifting their technology and know-how from Malaysia into the UK,” said PRO MGA Global Solutions Chief Executive Officer (CEO) Danny Maleary.

VSure has aligned with local players, including McGill and Partners, a leading boutique (re)insurance broker specialising in creating bespoke, game-changing solutions for clients, to increase market penetration in the UK. To gain a better grasp and understanding of the UK insurance scene, the company has also collaborated with Pro MGA Global Solutions, a specialist insurance expert with 29 years of experience in the UK market.

“Working with VSure, give us opportunities to marry traditional insurance structures with VSure’s existing digital platform expertise to create something uniquely disruptive in the insurtech space” said Oliver Clarry, Partner at McGill & Partners.

For more information about VSure, VSure UK and our products, please visit VSure.life