Grab-led GXBank teams up with Zurich to offer affordable insurance

GXBANK, a Malaysia-based digital bank backed by $Grab Holdings (GRAB.US)$ and $Singtel (Z74.SG)$ , has entered into a 10-year partnership with Zurich General Insurance Malaysia and Zurich Life Insurance Malaysia to develop cost-effective insurance products.

Their initial product, slated for launch in the third quarter of this year, aims to safeguard customers from unauthorised transactions resulting from cybercrime.

Such a product holds significance in the country, as the number of online fraud cases has doubled in 2023 compared to 2019.