Smart Investor Malaysia


Allianz General launches Smart Retail Shield


Smart Retail Shield offers free coverage of up to RM250k for a year if purchased before 31 December.

Small and medium-sized enterprises (SMEs) looking to bounce back from the repercussions of the Coronavirus (COVID-19) pandemic can now find a partner in Allianz General Insurance Company (Malaysia) Berhad with the company’s newly enhanced Smart Retail Shield. 

A flexible, comprehensive insurance solution, Smart Retail Shield allows SMEs to build on their fire insurance coverage with customisable coverage. 

These include protection against commercial fire and coverage such as Inconvenience Relief Benefit, consequential loss, and terrorism; safeguarding of business assets (Burglary, Machinery Breakdown, Goods in Transit, and more); taking care of the welfare of employees and protection against other exposures. 

With Inconvenience Relief Benefit, SMEs are protected against restriction of use of the premise by order of relevant pubic authority if any of their employees are infected with infectious disease which manifested within their premise.

"COVID-19 has spared no one, and it is a wake-up call to businesses across all industries to focus on survival and sustainability. While we cannot change the environment we are in, we can still choose how we respond to it. 

In the face of adversity, you have to chart your own destiny, and there is no reason to throw in the towel," said Zakri Khir, Chief Executive Officer of Allianz Malaysia Berhad.

"As insurers, we manage risks every single day and there is a myriad of products to choose from. But you need to ensure that you have the right protection and that is where we can guide you to keep your business safe. 

"With Smart Retail Shield, we want to give SMEs the confidence and the choice to rebuild their business, knowing that we will be their partners in their recovery plans," added Zakri.

The first 10,000 customers to purchase Smart Retail Shield (until 31 December) will also receive a one-year free coverage of seven miscellaneous classes totalling RM250,000 sum insured. 

The miscellaneous classes are Burglary, Glass, Money in Premise, Money in Transit, Public Liability, Employer’s Liability, and All Risk.

In addition to that, SMEs will also receive free marketing support to help these businesses to gain exposure and increase their brand visibility. 

Why SMEs, why now?

SMEs such as boutique hotels to baker's cafes make up nearly 98 percent of businesses in the country, and were among the hardest hit by the Coronavirus (COVID-19) pandemic.  

As one of the main drivers of the Malaysian economy, SMEs provide jobs for almost two-thirds of the Malaysian workforce and contributed 38.3 percent or RM521.7 bil in Gross Domestic Product (GDP) in 2018. 

The Government’s move to alleviate some of the burden faced by SMEs was a welcome shot in the arm. These include the allocation of an additional RM10 bil for SMEs under the RM250 bil Prihatin Rakyat Economic Stimulus Package and Bank Negara Malaysia’s Special Relief Facility. 

Moreover, close to 700,000 micro SMEs are expected to benefit from the one-off financial assistance of RM3,000 from the Prihatin Special Grant.

"The economic impact of COVID-19 will be felt for a while and we are in this for the long haul. 

"Things will get worse but they get better. How soon Malaysia bounces back from this will depend on how fast the country can reverse the business inactivity during the various phases of the Movement Control Order," said Zakri, who is also Chief Executive Officer of Allianz General.

Keeping a positive outlook

While SMEs will have to contend with challenges of curbed manpower, travel restrictions, and disrupted supply chains throughout the Conditional Movement Control Order (until 9 June), businesses must stay positive and look for opportunities for change.

"SMEs must remember that they are the backbone of the Malaysian economy. It is a risky environment, but businesses must muster up the courage to stand up, evolve and find exciting new ways to run their business. Take that all-important first step and Allianz General will be there to help you," added Zakri.  

To purchase Smart Retail Shield, contact any Allianz General agent through our agent locater via or walk-in to any of the Allianz General branches nationwide. 

To learn more about Smart Retail Shield, visit

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