This is gonna be a longggg article. So bear with me.
The Launch of BlueDuck Zero Deposit
As the year marching to an end, we are very grateful of how far we've come. When BlueDuck Zero Deposit was in creation stage, we realized that there were huge market gaps. Throughout the discussion with the insurance company, it is all about maximizing the benefits for the policy holder, and yet mitigating risk, ensuring the sustainability of the product. After a long one year, finally, our BlueDuck Zero Deposit is officially launched in Q4, 2020 (kudos to our Founder, Mr. Earnest Wong).
BlueDuck Zero Deposit, a landlord insurance co-created with Liberty Insurance Malaysia Berhad, designed to replace traditional deposit, yet protecting landlord's interest unlock the cashflow in the market, providing a winning scenario for all parties.
In the past year, with the pandemic and lockdown happening. The industry has striven its best in adapting and adjusting to the new norm. There were a lot of virtual meetings and events happening and in BlueDuck, we’re proud to be part of the journey. We know that this is the time, the time to educate the market.
Educating the Market
What’s memorable was the first sharing on Instagram. We’ve been engaging our audiences through Facebook Live. In a different space, different audience, I must say we’re thrilled! From the session with @Propview, we spoke about this new norm in the Rental Market to the landlords and tenants. The session was hosted by the ever engaging and entertaining Adam. Such a great experience.
First Instagram Live: BlueDuckxPropview: The New Norm in Rental Market
Through the effort of connecting with our audiences, it is also our pleasure to be part of the RE:Connect, organized by Unissu to speak to the International audience. Malaysia, being the first in Southeast Asia to have launched Security Deposit Replacement Scheme, not only that our in-house developed tenancy system is worth discussing as it has been one-of-a-kind tenancy system with Fintech solutions embedded with white-label solution.
First International Reach
First International Reach: RE.connect: The Old School Tenancy Management Post Pandemic Transformation
At the beginning of the year, it is all about the transition or transforming from offline to online tenancy management especially during this unprecedented pandemic. And it was indeed thrill to see many short-term accommodation players are transitioning their business model to hybrid model (offering both short and long term accommodation) and begin to incorporate systematic approach to the business through subscription of tenancy management system.
By the end of the year, we’ve also participated in Asia Pacific Proptech Summit 2021, organized by Malaysia Proptech Association 2021 as panel speaker to speak about the digitization on tenancy management processes.
An interesting question was asked during the session about the market disruption with technology. With Facebook introducing metaverse, it is exciting for all to look forward to where it is leading us. But again, will technology disrupt the market? Or, are we incorporating technology into the business and disrupt the current process flow and leads to a transparent, and streamlined experience? It was a great session with fellow real estate players and good to meet a Hong Kong proptech enthusiast Mr. Vishal.
First in PropertyGuru: Asia Largest Online Property Portal Group
Last but not least, huge pleasure being able to share about Zero Deposit insurance in the POV of a landlord. In the session, we have discussed about the initial idea of collecting a deposit. Not only a market practice in Malaysia, but everywhere in the world.
In Europe, it is a norm for tenants to move in by getting an insurance for the landlords in order to lower the initial move-in cost, and protecting landlords’ interest.
However, is it sustainable? A copy of the session was uploaded into YouTube and you should definitely check it out: https://www.youtube.com/watch?v=5KDPZYQDIWI
All in all, Zero Deposit solution, a modern rental solution that we’ve been advocating. An enabler translating to faster rent out, reduce vacant units to promote cashflow for all parties in real estate. We’ve faced many questions; doubt of the product sustainability and credibility and it is all due to the lack of education and speed of information delivery.
With that, we’re working closely with real estate agents, the frontliner in the market to deliver this piece of exciting market info to their landlord. And we are already seeing landlords offering this solution! Amazing.
With all said, I believe that everyone of us, the market players, are ready to continue to educate, and progress. Oh hey, we’re launching our Commercial Zero Deposit in January 2021! Stay tuned.
“Innovation is taking two things that exist and putting them together in a new way.“ - Tom Freston (born 1945), Co-founder of MTV
It has been great year in 2021, and we're looking forward to a even better year in 2022! I am super honored to be able to speak in several platforms for BlueDuck and I just can't wait to share more of our updates. Do like, share and follow for more exciting news from BlueDuck here: https://www.facebook.com/BlueDuckMY/
Chief Revenue, BlueDuck Malaysia.