Oyen
Oyen is a Malaysia-based, digital-first pet insurance agency offering conventional and Shariah-compliant takaful coverage for cats and dogs via a self-service online platform, acting as a licensed agent for MSIG Insurance and Zurich General Takaful.
- Company typePrivate
- Founded2021
- HeadquartersKuala Lumpur, Malaysia
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Oyen does
Oyen's business model is that of a licensed insurance and takaful agent rather than a risk carrier. Oyen earns a 25% commission on policies underwritten by MSIG Insurance (Malaysia) Bhd (conventional) and Zurich General Takaful Malaysia Berhad (Shariah-compliant takaful), making revenue directly a function of policies sold and renewed. The company targets Malaysian pet owners through a B2C, product-led growth model — acquisition is driven by SEO-optimised educational blog content, organic social (Facebook, Instagram), WhatsApp-based pre-sales support, and earned media in outlets including Malay Mail, NST, BFM, Bernama, and Astro Awani. With 11–50 employees, a single disclosed seed round of US$420,000 in June 2021 from Hustle Fund Management LLC and angel investors, and stated plans to expand across Southeast Asia, Oyen operates a low-overhead, digitally distributed model with no physical retail footprint.
Oyen firmographics
Firmographics- Name
- Oyen
- Legal name
- Riskflow Sdn Bhd (1401523-D)
- Website
- https://oyen.my
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Oyen is a Malaysia-based, digital-first pet insurance agency offering conventional and Shariah-compliant takaful coverage for cats and dogs via a self-service online platform, acting as a licensed agent for MSIG Insurance and Zurich General Takaful.
- Ownership category
- akta.pro rank
Oyen industry classification
Industry- Product category
- Pet Insurance
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Pet Insurance (FSAJAKAG)
- akta.pro secondary industries
- Accident & Supplemental (Non-Life) Insurance (FSAJAKAA), Pet Insurance (FSAJAMAO)
Keywords
Where Oyen is headquartered
LocationHeadquarters
- HQ city
- Kuala Lumpur
- HQ country
- Malaysia
- HQ region
- Asia
Offices1 record
Markets served
Oyen business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure, Others
Revenue model
- Insurance Commission (Conventional Pet Insurance): Oyen acts as a licensed insurance agent of MSIG Insurance (Malaysia) Bhd, earning commission on policies sold. Commission of 25% is disclosed as inclusive within the premium. The company provides insurance advice, claims assistance, and services to customers purchasing through its platform.
- Takaful Agent Commission: Oyen is a registered takaful agent for Zurich General Takaful Malaysia Berhad, earning commission on Shariah-compliant takaful certificates sold (e.g., Takaful Kucing).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Cat Insurance — monthly and yearly plans |
| Subscription | Monthly | Dog Insurance — monthly and yearly plans |
| Subscription | Annual | Takaful Kucing — Shariah-compliant annual plan |
| Subscription | Monthly | Reimbursement Tier Options |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Oyen product offering
Product offeringCore offering
Oyen is a Malaysia-based licensed digital insurance agency that sells cat and dog insurance plans—including Shariah-compliant takaful coverage (Takaful Kucing)—through an online platform and mobile app. The agency is a licensed agent of MSIG for conventional pet insurance and Zurich General Takaful for Shariah-compliant takaful, offering customers online quoting, policy management, claims submission, multi-pet and no-claim discounts, and access to a Vet Finder directory.
Product overview
Oyen is a digital-first insurance agency offering pet insurance and takaful products in Malaysia. The product portfolio consists of Pet Insurance (covering both cats and dogs), Cat Insurance, Dog Insurance, and Takaful Kucing (Shariah-compliant coverage for cats). All products are underwritten by MSIG Insurance (Malaysia) Bhd and Zurich General Takaful Malaysia Berhad. The digital platform enables pet owners to get quotes, purchase policies, and submit claims online with WhatsApp customer support.
Differentiator
Problem solved
Functional benefit
Brands
- Takaful Kucing: 100% Shariah compliant coverage for feline pets
Products and services
- Pet Insurance Comprehensive digital pet insurance for cats and dogs in Malaysia, covering veterinary expenses for illness and accidents, purchased and managed online via the Oyen website and app as a licensed agent of MSIG.
- Cat Insurance Insurance plan tailored to cats, covering veterinary costs for illness, accidents, and related medical care, distributed by Oyen as a licensed agent of MSIG to Malaysian cat owners through the Oyen digital platform.
- Dog Insurance Insurance plan tailored to dogs, covering veterinary costs for illness, accidents, and related medical care, distributed by Oyen as a licensed agent of MSIG to Malaysian dog owners through the Oyen digital platform.
- Takaful Kucing Shariah-compliant takaful plan for cats, offered by Oyen as a licensed agent of Zurich General Takaful in Malaysia, providing cat owners with an Islamic-compliant alternative to conventional pet insurance distributed online through the Oyen platform.
Quantifiable outcome
- Up to 90% reimbursement rate on approved vet bills
- +7 more outcomes
Companies that use Oyen
Customer profileNamed customers7 records
Segments1 record
Ideal customer profiles1 record
Oyen technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Oyen partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- MSIG Insurance (Malaysia) BhdcoreOyen partnered with MSIG Insurance in April 2021 to develop and launch a digital-only pet insurance platform in Malaysia. Oyen acts as a licensed insurance agent of MSIG, offering conventional pet insurance plans covering cats and dogs with up to RM10,000/year in vet bill coverage and up to 90% reimbursement. MSIG underwrites the conventional insurance policies while Oyen handles digital distribution, customer acquisition, and claims assistance.
- Zurich General Takaful Malaysia BerhadcoreOyen is a registered takaful agent for Zurich General Takaful Malaysia Berhad (company registration 201701045981), offering Shariah-compliant pet takaful products (Takaful Kucing). This partnership enables Oyen to serve Muslim pet owners in Malaysia with 100% Shariah-compliant coverage, an important market segment in Malaysia.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Oyen competitors and assessment
Company assessmentDirect peers
- Figo Pet Insurance: Figo is a US cloud-native, app-first pet insurance carrier. Its mobile-first platform and straightforward 100%/70%/50% reimbursement model align closely with Oyen's tiered product design and commitment to a no-panel-vet experience.
- ManyPets: ManyPets is a UK-based digital-first pet insurance startup that sells direct online and via partnerships. Its PLG-style online quote/buy funnel and subscription premium model mirror Oyen's approach in a more developed pet insurance market.
- Healthy Paws Pet Insurance: Healthy Paws is a US direct-to-consumer pet insurance provider, a wholly online subsidiary of a large insurer. Its online-only quote/claims flow and unlimited lifetime benefit options closely resemble the digital experience Oyen sells to Malaysian pet parents.
- Embrace Pet Insurance: Embrace is a US digital-first pet insurance provider offering customizable reimbursement tiers and wellness add-ons — directly parallel to Oyen's 50/70/90% reimbursement tier structure and digital self-service distribution.
- Petplan: Petplan is one of the largest specialty pet insurance carriers globally (UK and North America), offering illness/injury coverage with veterinary reimbursement. As the category-defining legacy pet insurance brand, it is the benchmark Oyen competes against on product breadth and brand recognition.
- Trupanion: Trupanion is a US-listed digital-first pet insurance company offering direct-to-consumer policies with no-network restrictions and same-day vet payments. Like Oyen, it is software-led, charges a subscription premium, and aims to be the go-to brand for pet owners — the most direct global comparability for Oyen's model.
Regional players
- Samsung Fire & Marine Insurance – Pet (Anipet): Large Korean insurer (SFMI) offers Anipet via digital channels, demonstrating how a regional general insurer can take pet insurance direct online. Comparable to Oyen as another Asian insurer-led or insurer-distributed pet insurance product, relevant to Malaysia due to Korean insurers' recent push into ASEAN.
- Bow Wow Meow Pet Insurance: Bow Wow Meow is an Australian pet insurance specialist offering illness and injury cover through an online platform. Comparable to Oyen as an Asia-Pacific regional digital pet insurer, though it serves a different geography.
Broad incumbents
- Etiqa Insurance & Takaful: Etiqa is one of Malaysia's largest multi-line insurers and takaful operators. It offers broader P&C and takaful products, providing a useful incumbent benchmark for pet-adjacent and Shariah-compliant insurance bundles in the Malaysian market.
- MSIG Insurance (Malaysia) Bhd: MSIG is one of Oyen's underwriting partners and a major P&C insurer in Malaysia. As the risk carrier for Oyen's conventional policies, MSIG is the incumbent counterparty that defines Oyen's product and economics, and it competes for the same end customer via alternative distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks5 records
Key highlights6 records
Customer concentration
Oyen social profiles
Digital presenceOyen compliance and trust
Trust signalCompliance2 records
Oyen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Oyen leadership team
Management profileNumber of profiles
Profiles1 record
Oyen funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Oyen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Oyen
What does Oyen do?
Oyen is a Malaysia-based licensed digital insurance agency that sells cat and dog insurance plans—including Shariah-compliant takaful coverage (Takaful Kucing)—through an online platform and mobile app. The agency is a licensed agent of MSIG for conventional pet insurance and Zurich General Takaful for Shariah-compliant takaful, offering customers online quoting, policy management, claims submission, multi-pet and no-claim discounts, and access to a Vet Finder directory.
Is Oyen a public or private company?
Oyen is a private company. It is classified as venture growth investor backed and is currently operating.
When was Oyen founded?
Oyen was founded in 2021. It employs 11 to 50 people.
Where is Oyen based?
Oyen is headquartered in Kuala Lumpur, Malaysia, in the Asia region.
How does Oyen make money?
Two revenue lines are on record. Insurance Commission (Conventional Pet Insurance) is the primary driver. The others are takaful Agent Commission.
Who are Oyen's main competitors?
Direct peers on record are Figo Pet Insurance, ManyPets, Healthy Paws Pet Insurance, Embrace Pet Insurance, Petplan and Trupanion. Regional players are Samsung Fire & Marine Insurance – Pet (Anipet) and Bow Wow Meow Pet Insurance. Broad incumbents are Etiqa Insurance & Takaful and MSIG Insurance (Malaysia) Bhd.
Does Oyen have an API?
No public API is recorded for Oyen.
What industry is Oyen in?
Oyen's product category is Pet Insurance. Its primary akta.pro industry code is FSAJAKAG, Pet Insurance, with a secondary code of FSAJAKAA, Accident & Supplemental (Non-Life) Insurance. Its NAICS code is 524210 and its SIC code is 6411.