What Ouch does

Ouch! (legally Ouch Protect Berhad, with Ouch Free Sdn Bhd as a secondary entity) is a Kuala Lumpur-headquartered digital Takaful (Shariah-compliant Islamic insurance) operator incorporated in 2021 and one of the first entrants in Malaysia's nascent digital Takaful market. Its core product, Pusara Pro, is a beginner-friendly Takaful life protection certificate offering RM50,000–RM500,000 of life coverage plus an additional 10% funeral benefit, priced from RM4.13/month on an annual certificate term with monthly auto-debit contributions. The product is structured on a transparent 20% Wakalah fee model with a 100% online purchase-to-claims flow and a 24-hour funeral benefit payout target.

The company operates its own proprietary digital Takaful platform — covering underwriting, certificate management, and claims — accessed via web (ouch.my) and mobile app, available in English and Malay. Operations until 1 October 2025 were conducted under Bank Negara Malaysia's Regulatory Sandbox; Ouch! is now one of two publicly known applicants for the new Digital Insurer and Takaful Operator (DITO) licence (application window January 2025–December 2026), which carries capital requirements scaling from RM30 million to RM100 million as the business matures.

Revenue is generated via recurring Takaful contributions under the Wakalah model, with surplus distributed to participants. The go-to-market is direct-to-consumer and digital-first, supplemented by a community distribution partnership with MyKasih that delivers free RM50,000 Takaful protection plus RM50,000 funeral benefit and an RM10 TNG voucher to Malaysia's B40 (lower-income) households. The company is led by CEO Shazy Noorazman, with Klavs Tarp identified as founder; total disclosed funding to date is approximately RM5 million (~US$1.16 million) led by PPB Ventures in October 2024, with earlier seed support from Vynn Capital and Temokin.

Name

Ouch

Legal name

Ouch Protect Berhad

Website

https://ouchfree.co

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Ouch! (Ouch Protect Berhad) is a Malaysian digital Takaful operator offering Shariah-compliant life protection via its Pusara Pro product, serving everyday Malaysians and the B40 segment through a direct-to-consumer platform and a MyKasih community partnership.

Ownership category

akta.pro rank

Product category

Digital Takaful Insurance

NAICS

Direct Life Insurance Carriers (524113)

SIC

Life Insurance (6311)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Simplified Issue Whole Life / UL Insurance (FSAIABAH), Group AD&D (Standalone or Bundled with Life) (FSAIADAG)

Keywords

• Digital takaful insurance
• Shariah-compliant protection
• Islamic life insurance
• Funeral benefit coverage
• Online insurance platform

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Takaful Contribution Revenue (Wakalah Model): Ouch! collects Takaful contributions from participants under a Shariah-compliant Wakalah model, charging a transparent 20% Wakalah fee. Contributions are pooled and invested in Shariah-compliant markets, with surplus distributed to participants. Revenue is recurring (annual contributions) and driven by new certificate sales and renewals.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Ouch sells Shariah-compliant digital Takaful life protection certificates directly to Malaysian consumers through its website and mobile app. Its flagship product Pusara Pro offers up to RM500,000 of life protection plus an extra 10% funeral benefit, with monthly contributions starting from RM4.13 under a transparent 20% Wakalah fee model. The company also delivers free MyKasih Sponsored Protection (RM50,000 life + RM50,000 funeral benefit plus RM10 TNG voucher) to lower-income B40 Malaysians through its community partnership with MyKasih.

Product overview

Ouch! operates as a digital Takaful (Islamic insurance) operator offering a single core product called Pusara Pro. The platform is designed to provide accessible, Shariah-compliant life protection with full digital onboarding and claims processing. The company previously operated under Bank Negara Malaysia's Regulatory Sandbox and is currently pursuing a Digital Insurers and Takaful Operator (DITO) license to expand its offerings with more comprehensive protection solutions.

Differentiator

Problem solved

Functional benefit

Brands

• Pusara Pro: Beginner-friendly Takaful protection product offering life protection coverage starting from RM4.13/month with RM500,000 coverage and extra 10% funeral benefit. Product offered during the Bank Negara Malaysia Regulatory Sandbox period.

Products and services

• Pusara Pro Shariah-compliant digital Takaful life protection certificate offering RM500,000 of life coverage plus an additional 10% (RM50,000) funeral benefit, underwritten by Ouch Protect Berhad on a transparent 20% Wakalah fee model. Designed for Malaysian individuals and families (spouse and children) seeking affordable, jargon-free protection purchased and claimed 100% online in approximately 10 minutes, with 24-hour funeral benefit payouts.
• MyKasisponsored Protection Free Shariah-compliant Takaful life protection plan distributed via the MyKasisponsored Protection fund to lower-income (B40) Malaysian households. Provides RM50,000 of Takaful life protection plus an extra RM50,000 funeral benefit and an RM10 TNG voucher incentive, delivered through Ouch!'s community partnership with MyKasis to address financial inclusion for underserved segments.

Quantifiable outcome

• 24-hour funeral benefit claims payout
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• MyKasihcoreStrategic or Co-development PartnerMyKasih partners with Ouch! to deliver the MyKasih Sponsored Protection fund, providing RM50,000 of free Takaful life protection and RM50,000 funeral benefit to lower-income (B40) Malaysian households, along with an RM10 TNG Voucher. This community partnership addresses financial inclusion for underserved segments.
• Bank Negara Malaysia (BNM)coreOthersBank Negara Malaysia granted Ouch! a one-year extension to operate under its Regulatory Sandbox framework, enabling the company to test its Pusara Pro product in a controlled environment. BNM also introduced the DITO (Digital Insurers and Takaful Operators) framework in July 2024, with Ouch! being one of two publicly known applicants.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• PolicyStreet: Malaysian digital insurance platform and the only other publicly known DITO licence applicant alongside Ouch. Operates in the same regulatory track, serves Malaysian consumers with digital insurance distribution, and is the closest head-to-head comparable at Ouch's stage.

Broad incumbents

• Etiqa Family Takaful: Largest Malaysian family Takaful operator owned by Maybank. Offers a broad Takaful product suite with deep bancassurance and agent distribution — the dominant incumbent Ouch is attempting to disrupt digitally.
• Syarikat Takaful Malaysia Keluarga Berhad: Major Malaysian family Takaful provider with a multi-line product portfolio and established agent network. A direct traditional competitor in the family life Takaful segment Ouch targets with Pusara Pro.
• Prudential BSN Takaful Berhad: Established Takaful joint venture combining Prudential's global life-insurance expertise with Bank Simpanan Nasional's domestic reach. A meaningful incumbent in the family Takaful category Ouch addresses.
• Great Eastern Takaful Berhad: Malaysian Takaful arm of Great Eastern, one of Southeast Asia's oldest insurance groups. Offers family Takaful products through traditional agency channels — overlapping with Ouch's family-protection target market.
• Hong Leong MSIG Takaful: Malaysian Takaful joint venture backed by Hong Leong Group and MSIG. Operates in the same family life Takaful segment as Ouch with established distribution.
• Allianz Life Insurance Malaysia Berhad: Malaysian life insurance arm of Allianz, a global insurance leader. Operates in the broader life and family protection category with traditional agency and bancassurance distribution — represents the legacy model Ouch is digitising.
• Tune Insurance Malaysia Berhad: Malaysian insurer with travel, motor, and personal lines; offers online direct-purchase policies under the Tune Protect brand. Comparable as a digital-first general insurer in Malaysia, though without a Takaful focus.

Emerging players

• FWD Takaful Berhad: Pan-Asian digital-first insurance brand (FWD Group) operating in Malaysia with Takaful products. Comparable as a digitally-led challenger with a similar product breadth and Southeast Asia footprint, though backed by far greater capital.
• Singlife: Singapore-headquartered digital life insurer with regional ambitions. Comparable as a digital-first, product-led insurtech building embedded insurance distribution across Southeast Asia, although operating in Singapore rather than Malaysia directly.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ouchfree

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ouch