Insurer simplifies financial planning for Malaysians

| 06 Apr 2021

Zurich Malaysia (Zurich) and Singapore-based fintech BetterTradeOff, today launched 'Up ' MyZurichLife', a financial planning solution exclusively for MyZurichLife's users to help them plan for their future.

Up | MyZurichLife is a cloud-based solution utilising advanced analytics with an easy-to-use interface. This helps to simplify the task of building of a sound and comprehensive financial plan and makes it easier for anyone, regardless of their financial literacy, to plan and make better financial decisions.

The solution allows users to explore different financial scenarios and how individual elements impact their overall plan. This includes purchasing a new home, planning for retirement, and planning for children education. Users can project the impact of life events such as becoming unemployed, or the sudden loss of the family’s main breadwinner on their financial situation.

This enables them to better estimate the course of action to take to mitigate financial stress. Using a drag-and-drop approach, ‘goals’ or ‘dreams’ can be included into their plan, such as a new property, a child’s education, or a potential investment for a visualisation of the impact on their long-term cash flow, savings, or net wealth.

The solution incorporates Zurich’s products and proposes what may best suit customers to realise their ideal plan. It also has a convenient interface for customers to connect with a Zurich Wealth Planner for advice on tailoring a plan that meets their individual needs directly from the Up | MyZurichLife solution.