SINGAPORE – Singapore-based fintech company 360F and Malaysian life insurance distributor Fi Life have entered a partnership to provide Malaysians an online tool that allows users to assess their own
financial needs. The tool allows them to customise the results based on Malaysian demographic
and mortality data, teaming it with 360F’s personalised prediction algorithms.
The tool named 360-NeedsProfiler asks users nine non-intrusive questions, based on which
they receive a succinct customised report that quantifies the most important protection needs of
the user in percentage terms. These components include life, critical illness and disability
protection. The fourth dimension is the wealth accumulation needs of the user.
The product aims to digitise the tasks like choosing suitable protection, selecting the right
investment products and product comparisons that overwhelm many people. The difficulty
increases when one has to choose between protection plans and investment plans. That’s
exactly where 360-NeedsProfiler comes into the picture as consumers can seek out separate
protection and investment plans that address their greatest needs through the tool.