MSIG Insurance (Malaysia) Bhd via its first-ever partnership with social enterprise Epic Homes, has designed a fire insurance package specifically for the orang asli homes.
MSIG Malaysia chief executive officer Chua Seck Guan said the company is delighted to be working with Epic Homes on this very meaningful project and have learned a lot from it.
“The experience from this project has allowed us to create this unique fire insurance product for marginalised communities.
“We are open to extend this fire insurance product to any other social enterprise/ non-government organisation (NGO) who may work on similar models in providing houses, schools or any buildings that serve the under-served,” he said in a statement today.
Epic Homes provides a platform for sponsors to fund homes for the orang asli to raise living standards for marginalised orang asli communities, bridging the urban and rural divide.
Epic Homes has so far built over 140 homes around Malaysia.
By working closely with Epic Homes on the ground, MSIG Malaysia gained an understanding of Epic Homes’ operations and insights into the potential risks and insurance needs of the three main stakeholders involved – protecting the work of the social enterprise, the orang asli homeowner, and the sponsorship of the building cost by generous corporate/individual sponsors.
To ensure MSIG Malaysia understood Epic Homes’ building eco-system, 33 employees were sent to experience a home build first hand.
Epic Homes is now offering fire insurance package to corporate sponsors and partners, including those who assisted in the construction of its first 136 Orang Asli homes – enabling them to sponsor the insurance for these homes that are currently uninsured.
Epic Homes is encouraging partners to help fund the fire insurance package on all upcoming homes, thereby contributing to the longevity and sustainability of these projects, while giving the orang asli residents the peace of mind that insurance gives to regular home owners.
“As one of Malaysia’s leading fire insurers, it was wonderful to be able to team up with Epic Homes to create this dedicated insurance package. As a result of their work, Epic Homes and their sponsors can now deliver safer homes for families who may not have the means to achieve this themselves. This is also perfectly aligned to the United Nations Sustainable Development Goals (SDG 11) – Sustainable Cities and Communities initiative which MSIG Malaysia fully support,” Chua said.
Epic Homes chief executive officer John-son Oei said the company is very happy to be working with MSIG Malaysia who share its vision of developing community-based housing solutions for the orang asli communities.
“All our partners bring something different and valuable to the table and so has MSIG Malaysia. This bespoke fire insurance product, will make our projects more sustainable and assuring to our sponsors – which ultimately benefits the Orang Asli residents too,” he said.