RealRewards Selects American International Assurance Company, Limited (AIA) and American Home Assurance Company - Malaysia (AHA) to Provide Group PA Protection Valued at RM12 Billion for Members

Kuala Lumpur, September 30, 2003: RealRewards, the leading consumer benefit programme provider in Malaysia, today officially announced the appointment of American International Assurance Company, Limited (AIA) and American Home Assurance Company - Malaysia (AHA) as the underwriters for a group insurance protection plan for its VIP and VVIP members. The announcement was made during an official signing ceremony between the 3 parties held at the Mandarin Oriental Hotel in Kuala Lumpur.

The on-the-road Group Personal Accident (PA) policy, worth RM12billion in total sum insured is believed to be the single largest group insurance policy in Malaysia.

The group policy will provide RealRewards VIP and VVIP members up to RM28,000 each in the event of death or disablement related to road accidents. Approximately 25% of RealRewards members qualify for this protection plan.

According to RealRewards Chairman Dato' Shamsuddin Hayroni the company decided on giving its most active members complimentary on-the-road insurance coverage because of the high incidences of serious road accidents in Malaysia that peak particularly during the festive seasons. This is in contrast to the considerably low number of road users who have sufficient life insurance protection.    

Statistics from the Road Transport Department reflect that in the year 2001, there were 9,450,967 licensed drivers in Malaysia and there were correspondingly 265,175 road accidents leading to 5,230 deaths and 6,942 serious injuries. At the same time, statistics from the Life Insurance Association of Malaysia indicate that in 2001 the total number of life insurance policies issued was only 1,364,582. These figures indicate that more than 8 million Malaysians may not have insurance protection in the event of a road accident.

"There are definitely RealRewards VIP and VVIP members who fall within this pool of 8 million Malaysians. Not only is the coverage provided a value-added benefit to our members, but it is also our way of showing concern for public welfare as part of our on-going social responsibility initiatives.

"This protection is provided to our VIP and VVIP members at no charge because we want to thank them for their support that has contributed to our growth. Our membership rate has grown 39% to 2.5 million household members this year, from 1.8 million members last year. The number of transactions recorded for all our merchants for the first six months of 2003 was 20.4 million - an increase of 14 percent over the same period in 2002 which is significant given the lower consumer spending during the first half of 2003."

According to Mr Bryan Smith, President and CEO of AIG Marketing Corporation Limited, Hong Kong (AIGMC) AIA and AHA Malaysia are committed to contributing to the well-being of the local community and will use its leadership position in the industry to introduce more innovative products and services that will benefit members of the loyalty programme.

"RealRewards has addressed one of the key issues of Malaysian road users - aside from safety, which is, the lack of comprehensive insurance coverage. By engaging us to provide their members with this value-added benefit they are showing their members appreciation in a tangible form that will be appreciated at times of need."

"The partnership between AIA, AHA and RealRewards will result in a win-win situation which will ultimately benefit members," Smith explained.

AIA and AHA are both member companies of American International Group, Inc. (AIG), and are together among the largest insurance companies in Malaysia. The agreement marks a significant milestone in AIA and AHA's partnership with Real Rewards, following an agreement made early last year to appoint both these companies as the exclusive insurers for the Real Rewards loyalty programme.

On the selection of American International Assurance Company, Limited (AIA) and American Home Assurance Company - Malaysia (AHA), Dato' Shamsuddin explained that the two companies were chosen based on their respective strong reputation as a trusted insurance provider with the resources and capabilities to manage large policies.

To further demonstrate their commitment towards social responsibility and community development, AIA and AHA marked the event by making a cash contribution of RM10,000 to the " AIA Have-A-Heart Fund " charity foundation.

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For further information, please contact:-
Samuel Tan
About Communication Sdn Bhd
019.237.8449 (mobile) samuel_tan@aboutcom.com.my (e-mail)


About RealRewards (Electronic Commerce Technology Sdn Bhd)
RealRewards is the largest consumers benefit programme in Malaysia covering more than 50% (2.5 million households) of the 4.3 million households in the country. It provides retailers with a total customer relationship management (CRM) solution that capitalizes on the brand's advanced technology for analyzing and understanding strategic consumer spending habits.





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