Etiqa General Insurance Berhad

What Etiqa General Insurance Berhad does

Etiqa General Takaful Berhad operates MotorTakaful.com, a digital-first Shariah-compliant motor insurance (takaful) platform serving Malaysian individual vehicle owners. The company is the Takaful arm of Maybank Group, Malaysia's largest financial institution, and is regulated under the Islamic Financial Services Act (IFSA) 2013 with Shariah governance from the Shariah Advisory Council (SAC) of Bank Negara Malaysia. Its core products are Private Car Takaful and Motorcycle Takaful, supplemented by TripCare 360 Takaful (travel insurance) and an extensive add-on catalogue including Windscreen, Extreme Weather, Oto 360 personal accident, Child Car Safety Seat (up to RM500), Smart Key Replacement (up to RM3,000), New Spare Part, Whole Car Repaint, CART compensation, and passenger-liability cover for cross-border (Singapore) drives. Surplus-sharing on zero-claim certificates functions as an annual cashback mechanism distinct from conventional insurance.

The underlying technology stack is a direct-to-consumer web platform (MotorTakaful.com) paired with the Etiqa+ mobile application, which consolidates policy management, claims submission, guarantee letter tracking, 24/7 roadside assistance, and mileage-linked cashback. Notable integrations include RTD (Road Transport Department) system validation for real-time vehicle verification during subscription, Maybank 0% EzyPay/-i instalment plans over 6 or 12 months, payment acceptance via Boost e-Wallet, Visa, MasterCard, and American Express with MOSET/SSL encryption, and the e-Cleva video-assisted claims workflow that issues a claims letter during the call for minor accidents. The operating model is asset-light distribution with claims serviced through a panel workshop network and 24/7 roadside assistance lines (1800-88-6491 / 1300-88-1007).

Revenue mechanics follow the takaful model: certificate holders make participative contributions (tabarru) into the general takaful fund, with surplus distributed at year-end to claim-free holders. Pricing is individualised by vehicle, driver profile, coverage, and add-on selection; no publicly disclosed price list exists. Distribution is exclusively digital self-serve through MotorTakaful.com and Etiqa+, supplemented by cross-sell into Maybank's banking customer base. Marketing leans on owned content (etiqa.blog), social channels (YouTube, Instagram, LinkedIn, Facebook), and earned media in Malaysian automotive and financial outlets (autobuzz, Carlist, PaulTan, Berita Harian, NST, The Edge). Products are protected by PIDM up to statutory limits.

Name

Etiqa General Insurance Berhad

Legal name

Etiqa General Takaful Berhad

Website

https://motortakaful.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Etiqa General Takaful Berhad, operating MotorTakaful.com, is the Maybank-owned Shariah-compliant digital motor takaful platform serving Malaysian individual vehicle owners with private car, motorcycle, and travel coverage plus modular add-ons, distributed online via its website and Etiqa+ mobile app.

Ownership category

akta.pro rank

Product category

Motor Takaful Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Takaful Bancassurance (Islamic Insurance Distribution) (FSABAGAM)

Keywords

• Motor takaful
• Shariah insurance
• Vehicle coverage
• Travel takaful
• Motorcycle insurance

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Takaful Contributions: Motor Takaful certificate holders pay contributions (premiums) to the general takaful fund as participative contributions (tabarru). Coverage is provided in exchange for these recurring contributions.
2. Surplus Sharing: At end of financial year, certificate holders entitled to share of surplus in the fund if certificate is in force and no claims were made during the year.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Etiqa General Takaful Berhad (the legal entity behind Etiqa General Insurance Berhad) provides Shariah-compliant motor takaful (Islamic insurance) products to Malaysian individual vehicle owners. Its core offerings are Private Car Takaful and Motorcycle Takaful, distributed through the digital MotorTakaful.com platform and the Etiqa+ mobile app. The portfolio also includes the TripCare 360 Takaful travel insurance product, with coverage sold as annual or short-term certificates backed by a panel workshop network and 24/7 roadside assistance.

Product overview

MotorTakaful.com is a digital-first motor takaful platform operated by Etiqa General Takaful Berhad, offering a comprehensive portfolio of Shariah-compliant vehicle insurance products. The core offering consists of Private Car Takaful and Motorcycle Takaful as the primary products, with the digital MotorTakaful.com platform serving as the unified sales and service channel. The product lineup includes multiple add-on modules including Windscreen Coverage, Extreme Weather Coverage, Oto 360 Takaful (personal accident), Child Car Safety Seat Coverage, Smart Key Replacement Coverage, New Spare Part Replacement Coverage, Whole Car Repaint Coverage, CART coverage, and passenger liability add-ons. The platform also extends to travel insurance via TripCare 360 Takaful. All products are managed through the Etiqa+ mobile application, which provides policy management, claims submission, roadside assistance, and access to the Etiqa Cashback by Driving Less program. The offering is distinguished by its digital-first approach, panel workshop network, and Shariah-compliant structure governed by Islamic Financial Services Act (IFSA) 2013.

Differentiator

Problem solved

Functional benefit

Brands

• Etiqa Cashback by Driving Less: Cashback programme rewarding policyholders who drive less, previously known as Drive Less Save More
• Oto 360 Takaful
• TripCare 360 Takaful
• e-Cleva

Products and services

• Private Car Takaful Shariah-compliant motor vehicle protection for individual car owners covering loss and damage due to theft, accidents, fires, floods and other risks. Coverage extends to the vehicle, driver, passengers, and third parties, with options for online purchase and renewal.
• Motorcycle Takaful Takaful coverage specifically designed for individual motorcycle owners, offering protection against theft, accidents, and other vehicle-related risks. Available through the digital MotorTakaful.com channel.
• TripCare 360 Takaful Shariah-compliant travel insurance offering protection for individual travelers, sold as a standalone online product with a promotional 25% discount for online sign-ups.
• Etiqa+ Mobile App All-in-one mobile application for individual insurance and takaful customers, enabling policy management, claims submission, guarantee letter tracking, 24/7 roadside assistance with live tracking, panel workshop and hospital location, and coverage document access.
• MotorTakaful.com Digital Platform Digital platform operated by Etiqa General Takaful Berhad that enables individual vehicle owners to obtain quotes, purchase takaful coverage, and manage claims online without agent involvement.

Quantifiable outcome

• 10% additional discount on top of NCD when renewing online
• +4 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• MSIG Insurance (Malaysia) Bhd: A leading general insurer in Malaysia with strong motor and commercial lines. Competes in the same private car and motorcycle owner segment with comparable add-on coverage philosophy and bancassurance distribution partnerships.
• Zurich General Insurance Malaysia Berhad: Malaysian arm of Zurich Insurance Group offering motor and general insurance, including takaful-adjacent products. Competes in the same motor vehicle owner segment with broader international backing and similar distribution breadth.
• Tokio Marine Insurance Malaysia Berhad: A multinational insurer with a substantial Malaysian motor and general insurance book. Offers overlapping coverage with Etiqa for private car and motorcycle owners through agent and digital channels.
• Allianz Life Insurance Malaysia Berhad: A major Malaysian incumbent offering both conventional and (via Etiqa-style bancassurance arrangements) Shariah products including motor. Operates a broader portfolio beyond Takaful and competes for the same vehicle owner segment.

Direct peers

• Takaful Malaysia: One of Malaysia's largest dedicated Takaful operators, offering family and general Takaful products including motor coverage. Direct competitor in the Malaysian motor Takaful market with comparable Shariah-compliant product structure and a similar B2C distribution model.
• Prudential BSN Takaful Berhad: A bancassurance-driven Malaysian Takaful operator co-owned by Prudential and Bank Simpanan Nasional. Competes directly in family and general Takaful with embedded banking distribution — directly comparable in go-to-market and customer base.
• Etiqa Family Takaful Berhad: Sister entity under the Etiqa Group umbrella, offering family (life) Takaful products. Same Maybank Group parent, same Etiqa brand family, and same Etiqa+ app ecosystem — directly comparable in operating philosophy and digital infrastructure.

Emerging players

• Tune Protect Group Berhad: A Malaysian digital-first insurer with significant travel and motor product offerings, affiliated with AirAsia. Comparable in digital-first GTM and self-serve product experience targeting Malaysian consumers.
• FWD Takaful Berhad: A digitally-led Malaysian Takaful operator backed by FWD Group, focusing on customer experience and simplified digital products. Represents an insurtech-style challenger approaching the same Muslim Malaysian consumer with similar Shariah-compliant products.

Others

• Etiqa General Insurance Berhad: The conventional (non-Takaful) insurance sibling within the Etiqa Group, offering general insurance products to the same Malaysian consumer base. Operates as a parallel entity rather than direct competitor, but uses shared infrastructure, Etiqa+ app, and Maybank distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@etiqa
• Facebookfacebook.com/Etiqa
• LinkedInlinkedin.com/company/etiqa-general-insurance-berhad
• Instagraminstagram.com/myetiqa

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Etiqa General Insurance Berhad