HONG KONG SAR - Media OutReach - 14 July 2021 - MSIG Insurance (Hong Kong) Limited ("MSIG") today published its second
annual MSIG Claims Report ("the report") which revealed a significant increase in customers using
its industry-leading EASY Claims online platform to submit claims in 2020. The results highlight MSIG's ability to
deliver innovative services to meet the growing digital needs of its customers during
EASY Claims, an award-winning online claims
platform launched in 2018, received 26.9% more submissions from customers who
took out policies via traditional channels in 2020. Claims submitted through
the platform also covered a broader range of products, with a 48.4% increase in
claims from non-travel insurance policyholders.
The report showed that over 92% of
respondents of Annual Claims Survey rated MSIG's overall claims experience as
'excellent' or 'good', an increase of four percentage points from the previous
Philip Kent, Chief Executive Officer of MSIG,
said: "The encouraging results of our 2020 Claims Report reflect our commitment
to continuously improving our products and services to deliver on our promise
to customers. Although the pandemic has been a challenging period for the
insurance industry, it has sent a clear signal that our customers need more and
better digital services to adapt. We will continue to innovate and stand by our
customers as a reliable partner."
Delivering on MSIG's service
According to the report, MSIG honoured claims
totalling HK$466.6 million in Hong Kong and Macau in 2020 and achieved a claims
settlement ratio of 91.1% for all claims made during the period. Despite the impact
of COVID-19, MSIG maintained its service pledge to acknowledge claim
submissions within two working days and settle claims within five working days.
In terms of settlement ratios by class, the
top five in 2020 were Employees' Compensation in Hong Kong (100%), Helper
(98.8%), Personal Accident (98.1%), Motor (96.1%) and Healthcare (95.1%).
Enabling partners and
In March 2021, MSIG upgraded the business and
claims management features of its EASYi Claims and Policy Management Portal to
help intermediaries better serve their clients. MSIG's business partners can
now access client documents and monitor claims from anywhere on a single
application. These process improvements are not only time-saving but also
creating a positive impact on the environment by reducing the need for printing.
MSIG also implemented a number of security
protocols on the portal to further protect records and prevent hacking,
including time-based one-time passwords (TOTP) and multi-factor authentication
MSIG introduced a variety of measures at the
onset of the pandemic. In addition to the EASY Claims platform whereby customers
were able to submit claims online without the need for physical documentation, MSIG
provided remote water damage assessments through interactive video tools, reducing
the need for physical visits from claim specialists. This lessened the risk of
exposure to COVID-19 for the company's employees and customers as well as helped
minimise claim processing times.
MSIG also acted quickly in providing travel
insurance premium refunds for journeys impacted by COVID-19.
To assist its marine insurance customers
affected by the pandemic, MSIG's claims specialists advised on ways to reduce
their risk exposure and implement controls, such as adjusting their packing and
delivery methods to minimise delays. As the COVID-19 situation worsened, the
company also expedited claims payments to provide additional support to
businesses dealing with unexpected operational disruptions.
In 2020, MSIG continued to gain recognition
for its exceptional products and services. It received industry accolades, including "Best
Design App - Silver award" at the DigiZ Awards 2020; "Excellence in Change
Management - Gold award", "Excellence in Learning & Development, Gold award"
and "Excellence in Innovative Business Solutions - Silver award" at the HR
Distinction Awards 2020; "Insurance Initiative of the Year – Hong Kong" at the
Insurance Asia Awards 2020; and "Best Loyalty Programme – Finance &
Insurance, Gold award" at The Loyalty & Engagement Awards 2020.