Ouch! is a digital takaful platform that offers straightforward life insurance coverage with payouts up to RM500,000, ensuring beneficiaries receive cash within 24 hours of a policyholder's death. By eliminating agents and complex terms, Ouch! provides affordable protection starting at RM4.13 per month, making it accessible for the new generation seeking financial security without unnecessary costs.
Funding
$1.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional life insurance products often involve complex jargon, pushy agents, and unnecessary add-ons, creating barriers for a new generation seeking straightforward and affordable financial protection. Lengthy claims processes and potential delays in payouts can also add to the burden during difficult times.
Solution
Ouch! provides a digital takaful platform that simplifies life insurance, offering coverage up to RM500,000 with a commitment to pay beneficiaries within 24 hours of a policyholder's death. By removing agents and complex terms, Ouch! delivers affordable protection, starting from RM4.13 per month, making it accessible for individuals seeking financial security without unnecessary costs. The platform allows users to manage their family’s protection, contribute to takaful and conventional policies, add beneficiaries, and make claims, all from a single policy management app.
Target Audience
The primary target audience is the younger generation in Malaysia seeking simple, affordable, and accessible life insurance (takaful) solutions without complex jargon or pushy agents.
Features
- Digital takaful life coverage ranging from RM50,000 to RM500,000
- Claims payout within 24 hours of death
- Mobile app for policy management, contributions, beneficiary management, and claims processing
- Online purchase and claims process
- Option to take a 5-minute test to determine appropriate coverage needs