Ouch!
Malaysia's first digital Takaful operator, providing Shariah-compliant life protection for workers and families.
Overview
Ouch! is a direct-to-consumer digital Takaful carrier licensed under Bank Negara Malaysia's (BNM) Regulatory Sandbox program, offering Shariah-compliant life protection products to Malaysian workers and families. Founded in 2019, the company operates as Malaysia's first digital Takaful operator, distributing coverage entirely through mobile app and web platforms with no agent involvement required.
The company's technology platform supports end-to-end digital underwriting, policy issuance, and claims processing. Products are designed for simplicity -- underwriting requires as few as four health questions, and claims for compassionate (funeral) benefits are paid within 24 hours. Ouch! targets the underserved segment of low-income and SME workers, with pricing starting from RM4.13/month and integration with government micro-Takaful voucher programs.
Ouch! raised a Series A round of RM5 million (approximately USD 1.1M) in October 2024, led by PPB Ventures with co-investors OSK Ventures, RHL, and Vynn Capital. A pre-Series A round was completed at an earlier date. The company is currently pursuing a Digital Insurers and Takaful Operators (DITO) license from Bank Negara Malaysia, which would transition it from sandbox status to a fully licensed digital carrier.