PRESS RELEASE | PolicyStreet Group
PolicyStreet Clinches Triple Regional Honours, Malaysian Insurance Innovations Setting New Standards in Financial Protection Across Asia
18 Sept 2025
Serving over 60 million policies, PolicyStreet’s award-winning innovations are creating access to financial safety nets never before available to gig workers, SMEs, and consumers.
KUALA LUMPUR, 18 SEPTEMBER 2025 — PolicyStreet, a fast-growing regional insurtech from Malaysia, clinches three accolades across Asia, cementing its position as one of the region’s most impactful innovators. The company secured a place in Asia’s NextGen Tech 30 list by Granite Asia alongside innovators from over 10 countries, was named the country’s Most Disruptive InsurTech by InsuranceAsia News for the second year in a row, and saw its co-founder and CEO recognised in the Fintech Frontiers 50.
These honours affirm that PolicyStreet’s mission of building purposeful and simple financial safety nets is setting new standards in the region. Protecting over 10 million customers, PolicyStreet is reshaping how insurance works for gig workers, SMEs, and underserved communities through innovations that make coverage affordable, accessible, and meaningful.
“Winning these awards is not just a proud moment for us; it validates the impact of what we set out to do. Our products are designed to solve real protection gaps — protecting gig workers while they earn a living, easing financial burdens for SMEs, and providing affordable coverage for our customers. These awards prove our initiatives are working, and they drive us to keep building insurance solutions that people can take advantage of in their daily lives,” said Yen Ming Lee, Co-founder and Group Chief Executive Officer of PolicyStreet.
Protection for Gig Workers
Since 2020, PolicyStreet has partnered with industry leaders like Shopee, foodpanda, Kiddocare, and Grab to safeguard gig workers. More than 275,000 gig workers have been covered through tailored protections that extend far beyond personal accident insurance.
These first-in-market protections include hospital income during hospitalisation, coverage for personal belongings such as mobile phones and uniforms, inconvenience allowances for disruptions like punctured tyres, and even professional indemnity for babysitters.
To complete the safety net, PolicyStreet ensures protection extends beyond working hours while keeping it financially accessible for informal workers through its micro-solutions. For instance, with foodpanda Protect+, foodpanda riders and their families can secure 24/7 worldwide accident coverage for as little as US$1 a month. Similarly, through collaborations with Grab, drivers can renew car insurance via daily micro-instalments, so fluctuating income never stands in the way of staying protected and productive.
To make claims seamless, PolicyStreet has also built dedicated digital platforms in collaboration with Shopee, foodpanda, and Grab, allowing gig workers and their next of kin to file claims easily without facing complicated navigation at critical times. These innovations put PolicyStreet years ahead of the Gig Workers Bill 2025, which only recently codified protections the company has championed since 2020.
Customised Insurance for SMEs
PolicyStreet also supports SMEs, offering customised group insurance plans that balance affordability and comprehensive protection. By piecing together the best value coverage from various insurers, PolicyStreet tailors plans to each SME’s budget and needs.
The insurtech’s proprietary Digital HR Portal, offered free to partnering SMEs, further simplifies management of customised group insurance plans. This reduces the administrative burden on SMEs, allowing business owners to focus on growing their businesses while safeguarding their teams’ well-being.
“These awards aren’t just trophies; they affirm that a Malaysian-born insurtech can set benchmarks across the region. For people across Southeast Asia, it means the financial safety nets we’ve built are recognised for their impact and available for those who need them today,” added Yen Ming.
Scaling Purposeful Protection Across the Region
Building on its success in Malaysia, PolicyStreet is actively extending its innovations across Asia, bringing financial safety nets to underserved communities. In Hong Kong, it has enabled Klook’s Satisfaction Guarantee refunds, already processing over 75,000 transactions for experiences affected by rain or other unforeseen circumstances. In Vietnam, PolicyStreet is supporting vehicle owners by reinsuring Tasco Insurance’s compulsory Motor Civil Liability portfolio. The insurtech is also partnering with Vinfast, the nation’s leading electric vehicle manufacturer, to provide tailored reinsurance solutions.
As PolicyStreet continues to scale, it’s constantly looking to expand its partnerships with brands in other countries, applying the best practices it has developed in each market to continue serving underserved communities across Southeast Asia. For more information on PolicyStreet’s insurance innovations, please visit policystreet.com.
