How MSIG HK’s award-winning mobile app and claims system made digital journey breakthroughs
Picture the exact moment when one might panic, realising at the last minute that they have to take out travel insurance for a trip. Thankfully, consumers have been able to breathe a sigh of relief courtesy of the MSIG mobile app (“三井住友MSIG”) being able to provide an easy solution with only a few finger taps. And this is in addition to the support already offered by MSIG’s eCommerce website and its “EASY Claims” platform.
Over the last 12 months, MSIG’s mobile app has won six digital awards in Asia from four organisations.
- InsuranceAsia News Awards for Excellence 2019
- Digital Insurer of the Year - Hong Kong
- Insurance Asia Awards 2019
- Digital Insurance Initiative of the Year - Hong Kong
- Mob-Ex Awards 2019
- Best Apps- Insurance Services, Gold award
- Asia eCommerce Awards 2019
- Best Mobile/ App e-Commerce, Gold award
- Best User Experience, Gold award
- Best eCommerce - Financial Services, Silver award
As almost every industry hops onto the digitalisation bandwagon, MSIG’s success raises the question, “What is the secret to MSIG’s success?”
Insurance at one’s fingertips
MSIG’s app - which has been out for a year - is a mobile solution that allows users to apply for insurance, manage their existing policies, communicate with MSIG (including filing claims), and earn loyalty rewards.
Since its launch, the app has exceeded all expectations for the number of downloads and is rated 4.4 out of 5 on the Apple App Store, winning great acclaim for its user-friendly interface and smart payment functions that, among others, include support for Apple Pay.
Philip Kent, chief executive officer of MSIG Hong Kong, says, “The launch of the app signifies our intention to increase the pace of digital adoption in the company.”
As of 2019, the MSIG app has brought many new customers to MSIG, resulting in a 24% growth in its total e-Commerce sales.
The MSIG mobile app integrates eCommerce, account management, rewards programme and communication hub.
Part of what drove the development of the MSIG app is the company’s ambition to incorporate digital service points into its customer experience. The development team developed a deep understanding of where these digital service points added the most value for customers and designed other smart functions to fit their needs. These features include an instant comparison of different insurance plans, instant payment through the app, social login, and a companion list that allows users to save the details of insurance members for future re-use in the creation of new policies.
The app also has built-in functions that allow MSIG to recognise and reward a customer’s loyalty. The company provides coupons and generous incentives with “MSIG$” loyalty points that can be redeemed for vouchers, Asia Miles, and other rewards. This helps MSIG encourage a long-term, trusting relationship with its clients.
Claims made easy via EASY Claims
MSIG has been an industry pioneer with the roll out of its “EASY Claims” system, an online portal that supports claim submissions for all lines of the insurance business. The system functions across all devices - including mobile devices and desktops - for users to submit claims anytime, anywhere.
Speaking on the company’s launch of EASY Claims, Philip described it as, “A secure and robust platform that dramatically extends our claims servicing capability.”
EASY Claims also reveals MSIG’s spirit to always strive for better. Despite 90% of its claimants reporting last year that they were satisfied with the old existing online claim portal, the company decided to re-examine the claim process and rebuild it from scratch. This led to the invention of the industry-leading EASY Claims product.
With EASY Claims, MSIG’s clients can kick-start the process simply by uploading videos, images, and, documents directly to the system. It offers detailed virtual guidance by integrating FAQ pages into the form and users can also receive SMS notifications or emails if there are any updates.
In the past, some customers reported that it was difficult to complete the claim form in one go or that the default logout time was too short. In response to that, the company designed a “save as draft” function that allows clients to come back to the form anytime they want.
Another improvement has been the introduction of a much shorter claims life cycle. The previous process used to require manual claim validation, registration, and acknowledgement, which could take one to two days. With EASY Claims, the process has now been automated and can be completed in 15 minutes.
The system is a true game-changer that benefits both clients and the company. EASY Claims provides a clear workflow of all claim activities, which allows staff with different areas of expertise to simultaneously work on a complicated claim and synchronise their tasks with an enhanced capacity.
Since its launch, the MSIG app has maintained an 11% growth in monthly downloads. Meanwhile, “EASY Claims” continues to receive positive feedback and growing support from claimants and their intermediaries. As the recent awardee of multiple digital awards, MSIG expects to keep up this momentum and will continue to expand its digital capabilities in the years to come.