Device leasing · BNPL · Instalment financing — Singapore & Malaysia

You finance the device. You carry the risk when it breaks.

Anycover embeds insurer-backed device protection directly into your leasing, BNPL and instalment products — so accidental damage stops landing on your balance sheet and starts generating fee income instead.

Model it on your book

No capital required
No new credit risk
Licensed insurer paper
Live across SG · MY · IN

The exposure

A cracked screen is a residual-value problem to a lessor and a default to a lender.

Every financed smartphone in the region is an asset its financier is exposed to and does not control. Most non-bank lenders absorb that exposure informally — unpriced, unhedged, and sitting on the wrong side of the balance sheet.

Device leasing & DaaS

You already sell a damage waiver. You just self-insure it.

Devices return two grades down — and refurb resale value is your entire unit economic model
Repair coordination sits with ops staff who were hired to do something else
Damage disputes at return are the worst moment in your customer lifecycle
Warehouse lenders ask who carries asset condition risk. Today the answer is you

Exposure: residual value + an unmodelled tail

BNPL & instalment

A broken phone is a loan whose utility has collapsed.

Thin-file borrower, unsecured, repayment driven by the device staying useful
Month seven: the screen goes. They're now paying monthly for a brick
Repayment behaviour deteriorates at exactly that point — and it isn't a scoring failure
Responsible-lending scrutiny is rising in both markets, not falling

Exposure: credit loss + conduct risk

Your numbers

What this is worth to your book.

Move the inputs to match your portfolio. Every figure below is generated live from what you enter — nothing here is a fixed claim about your business.

Devices financed / month 5,000

Average device value RM 2,400

Expected attach rate 22%

01 Commission income 20% of RM 3,168,000 gross written premium. No capital, no risk transfer to you.: RM 633,600
02 Credit losses avoided 132 defaults avoided across 13,200 protected devices.: RM 129,360
03 Incremental interest Premium financed into principal rather than paid in cash at checkout.: RM 513,216
Σ Annual benefit Before any reduction in operational handling cost.: RM 1,276,176

Assumptions: premium priced at 10% of device value for a 12-month accidental damage and screen plan; 20% of gross written premium paid to you as commission; 2% annual damage incidence; half of damage-triggered delinquencies prevented; RM 1,400 exposure at default at 70% loss given default; 60% of customers financing the premium at 18% over an average 1.5 years. We replace every one of these with your actuals before anything is signed.

Leasing economics

Keep the waiver revenue. Drop the tail.

The counter-intuitive part: handing the risk to a licensed insurer leaves most lessors with more retained margin than self-insuring, because the write-downs and the handling cost both disappear.

Illustrative · 10,000 active subscriptions · RM5.00 monthly waiver
Line	Self-insured today	With Anycover
Waiver collected from customers	600,000	600,000
Damage write-downs at return (10,000 returns × 18% × RM220)	(396,000)	—
Repair coordination & admin	(60,000)	—
Wholesale premium to Anycover (RM3.20/mo)	—	(384,000)
Net retained	144,000	216,000
Risk carried on your balance sheet	Full tail	None

And the second-order effect is larger than the first: devices that come back repaired grade A instead of grade C, which lifts the refurb resale price your whole model rests on.

Why now

Malaysia's Consumer Credit Act has your product terms open on the table already.

Licensing under the Consumer Credit Act 2025 commenced 1 June 2026 and covers credit providers explicitly including BNPL operators and leasing firms. If you are re-papering terms, affordability assessment and fee disclosure this year, the cost of adding a product to that stack is the lowest it will be for a decade.

31 Dec 2025

Consumer Credit Act 2025 gazetted.
1 Mar 2026

Act comes into force under the Consumer Credit Commission.
1 Jun 2026

Licensing commences for credit providers — BNPL, leasing, factoring.
1 Dec 2026

Compliance window closes. Six months from commencement.

We arrive with the pack written

Separate disclosure, standalone premium display, a genuine opt-out and no negative-option billing — drafted before the first meeting, not during legal review.

Structured per jurisdiction

Who legally distributes the cover differs between the MAS and BNM regimes. We bring the structure paper for both rather than discovering the question at signature.

Takaful where it's required

Shariah-compliant financing needs takaful paper, not a conventional policy wrapped in different language. We structure it properly or we tell you we can't yet.

A responsible-lending asset

Protecting the borrower's collateral is a conduct story as much as a revenue one — which is what makes it defensible in front of a regulator, not just a credit committee.

How it plugs in

Four steps, and none of them are yours to build.

Step 01

Embed at origination

Protection is presented inside your existing application flow and the premium is financed into the instalment — so there's no separate cash decision for the customer to decline.
Step 02

Capture the device

IMEI and condition recorded at origination through our API. That's what makes the cover priceable and the claim un-disputable later.
Step 03

Claims run through us

Your customer files in minutes over 24/7 chat with their details pre-filled. Your support team never touches it, and your ops team stops coordinating repairs.
Step 04

Repair, then report

Our regional repair network restores the device; you get portfolio-level reporting on attach, claims frequency and cost per device to price the next term against.

Next step

Bring us your portfolio. We'll model it against real loss data.

Thirty minutes, your device volumes and tenures, and an honest read on what a bundled programme is worth to your book — including when the answer is that it isn't worth much.