Micro, small, and medium-sized enterprises (MSMEs) form the backbone of Malaysia’s economy, driving growth, innovation, and employment across industries. Yet, as they expand and evolve, many face challenges in managing business risks effectively.

Unlike larger corporations, small and micro enterprises in particular are highly vulnerable to disruptions, where a single unforeseen incident can derail daily operations.

According to a May 2025 analysis by Ernst & Young (EY), around 644,000 Malaysian MSMEs continue to be unserved by financial protection solutions, with 36 percent struggling with affordability and 28 percent finding policies too complex to navigate.

Phang Yin Peng, Chief Consumer and SME Officer of Berjaya Sompo Insurance Berhad

Berjaya Sompo Insurance Berhad is committed to addressing this gap. According to Phang Yin Peng, Chief Consumer and SME Officer of Berjaya Sompo Insurance Berhad, supporting small businesses is not just about selling insurance; it is also a promise to stand with them. She believes insurance must have a purpose, which is to provide businesses with the right protection at a price they can afford.

Through its tagline We Are Here WITH You, Berjaya Sompo is dedicated to delivering comprehensive insurance solutions and exceptional service to its customers.

Sompo FlexiSME: Flexible coverage for every business

Tailored for SMEs, SOMPO FlexiSME offers flexible coverage with clear terms and optional add-ons.

Insurance is meant to provide stability for businesses, but for many MSMEs, understanding policies can be tricky, with complex wording, standard packages, and questions around how claims are handled. When business owners talk about insurance, a few questions usually come up:

Which areas of my business require coverage?
Will claims be honoured promptly and reliably?
Does the cost justify the protection offered?
How can I be sure the policy aligns with my business needs?

With every business facing unique risks, Berjaya Sompo introduced Sompo FlexiSME to provide flexible, tailored coverage. Business owners can choose what they need most, from money coverage, fidelity guarantees, public liability, plate glass protection, burglary, to all-risk insurance, equipment insurance, and employee personal accident cover.

This approach gives each business protection that aligns with its operations, needs, and budget. Two straightforward plans, Plan A and Plan B, provide simple starting points, while optional modules allow businesses to add coverage for specific risks as needed.

“Insurance shouldn’t be complicated. We want business owners to have confidence knowing they are only paying for what truly matters,” Phang said.

By offering guidance alongside flexible options, Berjaya Sompo helps business owners understand their actual day-to-day operations and risk profiles.

Interim claim payments

For small and micro businesses, even minor disruptions can have major consequences. A single incident can wipe out weeks or months of effort, and delays in claims processing can make recovery even harder.

Addressing the challenge, Berjaya Sompo also helps businesses recover more quickly by offering interim claim payments, which provide a portion of the insured sum before the full settlement is completed.

During the 2021 floods, the company released up to 20 percent of the insured amount immediately after assessing losses, enabling businesses to replace equipment, clean premises, and resume operations quickly.

Phang emphasised that speed is essential when livelihoods are at stake, noting that the company does not simply rely on the rulebook to support its clients. When a business is struggling to get back on its feet, acting quickly can make the difference between recovery and closure.

Reaching the underserved

MSMEs range from micro to medium-sized businesses, yet small and micro enterprises are often the most overlooked. Phang pointed out that operations ranging from small restaurant chains to micro-enterprises such as night market stalls frequently operate without any form of protection.

“These businesses, often run by first-time entrepreneurs or younger owners, face everyday risks with little security,” she said.

To support this segment, Berjaya Sompo takes proactive steps. “We focus on raising awareness and providing basic but sufficient coverage for small and micro businesses,” Phang explained.

Beyond coverage, the company also combines digital convenience with personal interaction. Online tools allow business owners to explore options, while a nationwide branch network provides face-to-face guidance.

Educational content can be delivered online, but real business decisions come from conversation, guidance, and mutual trust, she added.

Insurance as a tool for growth

From coverage design to claims support and risk management, Berjaya Sompo aims to go beyond traditional, one-size-fits-all policies and enable small and micro businesses to operate with greater confidence.

Its approach ensures that everyday risks are addressed while giving business owners practical guidance to make informed decisions. With flexible solutions and expert support, MSMEs are equipped not just to survive disruptions but to seize growth opportunities, safeguard profits, and strengthen resilience.

Through Berjaya Sompo, insurance becomes a tool for building confidence, stability, and long-term success.

Find out how flexible insurance solutions from Berjaya Sompo can protect your business today.