MSIG Hong Kong 2021 Claims Report demonstrates ongoing commitment to customer satisfaction and making digital breakthroughs
HONG KONG SAR - Media OutReach - 19 July 2022 - MSIG Insurance (Hong Kong) Limited ("MSIG") is delighted to announce that today it published the third annual MSIG Claims Report ("the report").
The report, which covers operations in Hong Kong and Macau, giving an overview of the total claims honoured in 2021 and corresponding top settlement ratio by class, and providing examples of customer testimonials in support of MSIG's services. The report also highlights MSIG's digital breakthroughs during the period under review, including Zero Touch for helper and medical plans, and updates to the EASY Claims user interface, and describes the company's contributions to the insurance industry in Hong Kong.
Philip Kent, Chief Executive Officer of MSIG Hong Kong, said: "Our third annual report shines a spotlight on the hard work of our staff, both in how they supported our customers during the ongoing pandemic, as well as in the various innovative upgrades we introduced to our products and services. I am proud to say that we demonstrated our commitment to protecting those things our customers hold dear, and to delivering extraordinary service when they need it most."
Unwavering customer commitment
MSIG's top priority is to secure its customers' safety and peace of mind. It does so by providing cover against illness, accidents and natural disasters. This year's report states that MSIG honoured claims totalling HK$381,360,512 in Hong Kong and Macau. The company's claims settlement ratio was 92.4% during the period, which is 1.4% higher than in 2020.
In terms of settlement ratios by class, the top five in 2021 were Employees' Compensation in Hong Kong (100%), Helper (97.7%), Personal Accident (97.5%), Motor (94.3%) and Healthcare (93.1%).
Digital breakthroughs
The report demonstrates that in 2021, MSIG's goal is to provide the utmost in convenience for clients through digital innovation. This included the launch of MediGo, a Customer Service Portal for the company's SME Group Medical Insurance policy. The new portal offers online access for the convenience of employees and employers alike. Furthermore, the company continued to upgrade the features of the EASYi Claims and Policy Management Portal, which offered great convenience to intermediaries, particularly during the work-from-home period. Now, intermediaries no longer need to rely on traditional paper-based services, policy renewal and travel policy issuance can be carried out digitally on a single platform.
Going the extra mile during the ongoing pandemic
The report describes a number of ways MSIG continued to find ways to protect its customers during COVID-19. These include enhanced medical protection for essential trips, online shopping protection, and risk prevention for marine customers.
Industry contributions
The report not only describes the contributions made by MSIG senior leadership to the general insurance industry, it also highlights how the company has taken a number of steps to enhance its fraud detection capabilities by implementing anti-fraud technology.
Recognised by the industry
In 2021, MSIG received a total of three industry awards for its dedication to its customers. These include "Silver – Best in eCommerce (Brands) – Bank/Finance Services" at the Asia eCommerce Awards 2021; "Bronze – Best Membership Programme" at The Loyalty & Engagement Awards 2021; and "Gold Certificate" at The Privacy- Friendly Awards 2021.
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About MSIG Insurance (Hong Kong) Limited (“MSIG Hong Kong”)
MSIG Hong Kong is a subsidiary of Mitsui Sumitomo Insurance Company, Limited within the MS&AD Insurance Group, Asia's leading general insurance brand with presence in 50 countries and regions globally. The Group is amongst the world's top 10 non-life insurance groups based on gross revenue*. It is the number one Japanese insurer with an A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, Mainland China, Korea, India and Taiwan.
MSIG Hong Kong offers a wide range of solutions and services through an extensive distribution network including agents, brokers, and bancassurance alliances with leading banks. It has been providing general insurance solutions to customers in Hong Kong for more than 160 years, dating as far back as 1855.
*2021 Fortune Global 500, Property & Casualty Insurance Category