To Newsroom
Press Release | 3 Oct 2018
Berjaya Sompo unveils integrated approach to become a top five general insurance provider by 2020
https://www.berjayasompo.com.my/news/berjaya-sompo-unveils-integrated-approach-to-become-a-top-five-general-insurance-provider-by-2020-
Placing a focus on customer centricity, innovative products, digitalization as well as building a robust talent strategy

KUALA LUMPUR, 2 October 2018 - Berjaya Sompo Insurance Berhad (‘Berjaya Sompo’), a renowned general insurance provider in Malaysia boldly unveiled its plans to become one of the top five general insurance providers in Malaysia. The brand aims to achieve this by developing a detailed growth agenda with key focus areas identified.

With a growing network of 20 offices and 2,800 agents nationwide, Berjaya Sompo is committed to being the leading insurer of choice by providing quality solutions and world class services in the best interest of its customers.

Customer Centricity
Customers are at the heart of Berjaya Sompo and its approach to customer experience is a vital component of enabling the brand to move towards greater heights in Malaysia.

Mr. Tan Sek Kee, CEO of Berjaya Sompo said, “Customer feedback is key to product innovation and this allows us to incorporate solutions into products that customers value and want. We execute this by listening to customers and gathering data trends through consumer surveys and market research. Ultimately, Berjaya Sompo is working towards improving the overall experience and journey for all customers across different touch points.”

Berjaya Sompo wants to make insurance simple to understand for the average consumer. As such, it has embarked on the following initiatives:

Thematic Brand Campaign: Silent Guardians
Berjaya Sompo’s latest thematic brand campaign, called ‘Silent Guardians’ is a unique take on storytelling about how Berjaya Sompo aims to foster closer relations with all its stakeholders, leveraging on the brand’s Japanese heritage and history, from Japan to the world since 1888.

Berjaya Sompo is raising up its army of heroes through its ‘Silent Guardians’ via the use of Japanese warriors, ninjas, samurais, sumo wrestlers, karatekas, and kendokas - protecting Malaysians everyday, even without realising. The thematic brand campaign incorporates unique humour to highlight the importance of being insured so that Malaysians are able to live their daily routines freely, without a worry.

Sompony: Berjaya Sompo’s Adorable Mascot
Recently, Berjaya Sompo introduced its latest and adorable mascot, Sompony. The brainchild of Berjaya Sompo’s parent company, Sompo Holdings (Asia) Pte. Ltd. (‘SOMPO’), Sompony is a hero, helper and trustworthy companion that Malaysians can count on to guide them as they navigate through Berjaya Sompo’s products and services.

Used across its markets in Malaysia, Indonesia, Thailand and Singapore, Sompony was created to reshape how the brand connects with consumers in a more human, light-hearted and relatable manner. Sompony adds value to SOMPO with successful character building. It helps internal stakeholders and agents in their storytelling efforts as they educate customers and explain about the unique products and services that Sompo offers.

Product Innovation: SOMPO Motor
Understanding the consumer mindset which changes over time, as well as in response to recent developments regarding motor detariffication in Malaysia, Berjaya Sompo evolves accordingly and continuously looks at ways to innovate and develop solutions that meets the needs of today’s consumer. One example of this: the all-new SOMPO Motor.

SOMPO Motor is a comprehensive motor insurance for car owners which reduces the overall add-on costs without going through the tedious task of including add-on benefits. Further, it has add-on benefits that provides a peace of mind to drivers which include better coverage for older vehicles and full coverage against natural disasters.

The new basic benefits included in SOMPO Motor are as follows:
  1. Special perils coverage, where claim amount does not exceed RM10,000 or 20% of Sum Insured, whichever is lower,
  2. Coverage for all drivers,
  3. Repairs warranty for 12 months,
  4. Emergency towing cost of RM300 following an accident.
“SOMPO Motor has reduced the hassle of going through commonly included add-ons for a comprehensive private car insurance by including them in the basic benefits. New add-on benefits also include better coverage for older vehicles and full coverage against natural disasters. We welcome the implementation of motor detariffication as it enables Berjaya Sompo to compete on a level playing ground, giving the spotlight to the true hero: SOMPO Motor. With this product, our main focus is enhancing the base level features and service level. We want to ensure we have a product that our customers find useful and beneficial,” said Mr. Stuart Chua, Chief Distribution Officer of Berjaya Sompo.

Consumers may also opt for new additional benefits such as full special perils coverage, unlimited towing costs within Malaysia, and waiver of betterment for vehicles up to 15 years. Another new feature of SOMPO Motor is that it provides consumers with the option to choose the Voluntary Excess of the Policy, ranging from 0% to 3% of the sum insured. Voluntary Excess of the Policy gives consumers the option to pay out of their own pocket for each claim, up to 3% of the claim amount, in exchange for a lower premium each month.

In addition, Berjaya Sompo is collaborating with esteemed car brands such as Honda Malaysia, Mazda Malaysia, and Nissan Malaysia to provide bundled insurance packages that are tailored to the needs of car owners.

Digitalization of Berjaya Sompo
In today’s digital-first world, consumers are now expecting and consuming information faster than ever and we need to constantly innovate to stay ahead.

Understanding the consumer mindset, Berjaya Sompo has taken major strides in activating digitalization across the company via a number of key initiatives, including: online product innovation, increasing digital distribution channels, introducing new B2C channels as well as strengthening its digital infrastructure.

Mr. Tan said, “Berjaya Sompo will be investing heavily in digitalization as a key focus area to move the brand forward. One example of this is digital innovation, as we are developing new B2C channels to serve today’s mobile customers, as well as the simplification of our online products across Motor, Travel, Snatch and Home as we make it quicker and easier for Malaysians to purchase our products. In the near future, we will also be looking at strengthening our data capabilities and translating meaningful data that will help us serve our customers better.”

As for brick and mortar stores, Berjaya Sompo has opened a new branch in Petaling Jaya in 2017 and another one in Seremban in September 2018. Beyond this, it has no further plans to increase its branch network - in accordance with Berjaya Sompo’s digital-first approach.

“We are confident that with on our digitalization journey, we can service our customers from any of our current locations, regardless of distance. Furthermore, we anticipate more and more clients moving online to buy, renew and claim insurance in the coming years, hence dependency on physical storefronts will reduce,” added Mr. Tan.

A Robust Talent Strategy
For Berjaya Sompo, building the capabilities of its internal talent pipeline is key. This will ensure that the workforce is motivated and driven to establish customer experience as the number one priority in becoming the preferred insurer, working towards achieving customer excellence.

“Internally, we have various development programmes in place for all levels of our workforce that provides training and practical skills for not only work-related tasks, but also developing intrinsic skills that will shape them for long-term advancement,” said Mr. Tan. With these plans in place, Berjaya Sompo is fully committed to growing in and with Malaysians, especially at this historic era of Malaysia Baru. As the brand works towards not only fulfilling but exceeding the expectations of its stakeholders, the brand is confident about fulfilling its aspirations of becoming one of the top five general insurers in Malaysia, contributing to the Malaysian economy and serving Malaysians nationwide.

For more information on the latest SOMPO Motor and other Berjaya Sompo products, visit:
https://www.berjayasompo.com.my/product/sompo-motor

To learn more about the Silent Guardians, visit:
www.berjayasompo.com.my/silentguardians

About Berjaya Sompo Insurance Berhad
Berjaya Sompo Insurance Berhad (“Berjaya Sompo”), is the Malaysian operating entity and part of Sompo Holdings (Asia) Pte. Ltd, established in collaboration between Sompo Japan Nipponkoa Insurance and Berjaya Group in 2011. Bolstered by the Sompo Japan Nipponkoa’s strong global presence and world-class expertise and experience, Berjaya Sompo is a leading name in general insurance in Malaysia, with an ever-expanding network that presently comprises 20 offices and 2,800 agents nationwide. Berjaya Sompo provides a comprehensive range of general insurance solutions for individuals and corporations. For more information, go to www.berjayasompo.com.my.

About Sompo Holdings (Asia) Pte. Ltd.
Sompo Holdings (Asia) Pte. Ltd. (“SOMPO”), is the holding company for its South Asian entities and is part of Sompo Japan Nipponkoa Insurance Inc, which is a member of the SOMPO Holdings Group. SOMPO business is spread over 10 countries including Malaysia, Singapore, Indonesia and Thailand with over 3,500 employees across the region. SOMPO is one of the fastest growing insurance companies in South Asia with a vision of becoming a key player by 2020 in every market it operates. SOMPO Holdings group management philosophy is “We will at all times carefully consider the interests of our customers when making decisions that shape our business. We will strive to contribute to the security, health, and wellbeing of our customers and society as a whole by providing insurance and related services of the highest quality possible”.

SOMPO Holdings is listed and headquartered in Japan and aims to be the best customer service provider both at home and abroad. It engages in the provision of insurance services, operating through Domestic Property and Casualty Insurance, Domestic Life Insurance, Overseas Insurance as well as other services including pensions, asset management and healthcare businesses. As the core company of the SOMPO Holdings Group, Sompo Japan Nipponkoa has established a network spanning 218 cities in 30 countries (As of March 31, 2018) including Europe, the Middle East, North America, Central and South America, Asia, Oceania and Africa. In addition to aiming to be a property and casualty insurance company that is most appreciated by the customers and leads the industry not only in scale but also service quality, Sompo Japan Nipponkoa is also driving the creation of a “theme park for the security, health, and wellbeing of customers” aimed by the group. For more information, go to www.sjnk.co.jp/english.

If you have further queries or require more information, please contact:
Mawarni Adam
Head of Brand, Marketing & Communications
Berjaya Sompo Insurance Berhad
Tel: +603 - 2170 7530
Email: Mawarni.adam@bsompo.com.my

Download PDF