The new LazMall Guaranteed Delivery is apparently the third special policy from Lazada after the 100% Authentic and 15-Day Returns. Customers are able to identify the products that support the policy by either of these badges:

The van badge with 24h label guarantees that the order will reach customers within 24 hours. On another hand, the badge with the tick means that customers will receive their orders within a guaranteed time frame. If the delivery failed to arrive within the promised time, customers will then receive RM 5 as a compensation which will be credited directly into their Lazada Wallet. The LazMall Guaranteed Delivery is now currently available for deliveries within Klang Valley, with nationwide expansion to take place very soon. (Source: Lazada.)

LazMall Guaranteed Delivery Provides Compensation To Customers If Their Products Arrive Late - 73