Newsroom | 5 Aug 2020
Berjaya Sompo Navigates The New Normal With Increase Customer Centricity
.jpg)
Kuala Lumpur, 5th August 2020 – Berjaya Sompo Insurance Berhad (“Berjaya Sompo”) is navigating the new normal by amplifying its customer centricity strategy by placing more focus on enhancing existing products, digitising its processes to increase speed in product delivery as well as improving its overall service levels through claims and customer experiences. This focus is paramount for Berjaya Sompo in ensuring that it participates in the “low contact or contactless” direction of the digital economy to remaining resilient during this COVID-19 pandemic and to staying the course of becoming one of the top five general insurers in Malaysia.
With a growing network of over 19 offices and 2,700 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.
Mr. Tan Sek Kee, Chief Executive Officer of Berjaya Sompo said, “As a company that cares, we understand that the COVID-19 pandemic has affected many of our policyholders one way or another. It has also affected the way we do our businesses and how we serve and interact with our customers. Our focus is to support our policyholders in their time of need through this crisis. We are drawing lessons from the pandemic and learning to adapt by enhancing our products as well as digitising our processes to serve our customers better during these challenging times.”
Enhancing Products
To ensure its policyholders remain protected and to help lessen their financial burden, Berjaya Sompo had its motor insurance premium reduced by as much as 20 per cent for selected car models. Policyholders can also convert their motor insurance premium into low monthly instalments when they make a payment using a CIMB Bank credit card. For non-motor insurance, Berjaya Sompo had recently introduced the “Interim Claims Payment” for its corporate policyholders when they make an admissible property-related claim for loss or damages caused by Fire, Machinery Breakdown and Equipment, to name a few. Under this new initiative, any corporate policyholder who makes a claim amounting to RM10,000 and above will receive a 20 per cent Interim Claim Payment in advance depending on the assessed or recommended claim amount by the company’s adjuster.
Digitising Processes
As part of Berjaya Sompo’s effort to increase digitisation across its business, the company have started to offer electronic policy delivery (e-Delivery) beginning 1 August 2020, to its policyholders to reduce the policy delivery time. This practice will not only benefit the company’s policyholders, in terms of customer experience but also from an environmental perspective as the company aligns itself to minimizing climate change impact to its operations and business offerings. To drive home the message amongst its employees and accelerate the adoption of digitisation, Berjaya Sompo had embarked on “The Paperless Project” internally to reduce paper consumption in the office and streamline the company’s processes. Within 2 months, the company had cleared 206.62 meters stack of papers or approximately 1.65 million pieces of A4 papers, thus reducing its carbon footprint from the use of papers only by about 80% based on the estimated calculation by www.carbonfootprint.com/calculator. Berjaya Sompo also introduced digital signature as part of its approval process for most of its internal documents, with the exception of legal documents.
Improving Service Levels
Despite, the company’s work-from-home (WFH) arrangements during the Movement Order Control by the Malaysian Government, Berjaya Sompo remains committed to delivering the highest standard of customer service. The company had invested in upgrading and revamping the integration system for its contact centre in Q4 2019, and by leveraging on this newly implemented technology, 100% WFH for the customer service and contact centre team in Q1 2020 was made possible within 24 hours of MCO being announced by the Government, which was a feat to have been able to achieve by a financial services institution during the height of the crisis, with minimal disruption to its service level delivered. The company also ensured while its workforce was working from home, policyholders can continue to make motor insurance claims, by submitting the required documents via email instead of physical submissions and assessments for e-claims processing. With the successful implementation and utilization of the contact centre technology, the company will continue to look for ways to digitize its customer engagement touchpoints and improve the overall service levels that will ultimately drive business results.
Mr. Tan added, “A study in 2019 shows that most of the ASEAN insurers will be focusing on digitising their operations and are willing to invest up to 2 per cent of their total revenue to support their digital initiatives[1]. We believe that this trend will continue especially in times like these. In fact, the COVID-19 crisis had accelerated the demand for insurance products and services online. In a different study, the survey shows that consumers are more likely to choose an insurer that can process policies online from start to finish and the ability to process claims online[2]. That said, we are looking at reengineering our processes to reduce redundancy and duplication.”
With these plans in place, Berjaya Sompo remains fully committed to caring and protecting Malaysians at this historic time of the pandemic. Berjaya Sompo will be launching the final instalment of the brand thematic campaign Silent Guardians trilogy in August 2020 to showcase how the brand remains steadfast in protecting and helping its customers in the new normal, so they can continue to live and care for others freely.
Download a copy of the media statement here.
[1] Source: The ASEAN Insurance Pulse 2019 by Malaysian Reinsurance Bhd and Dr Schanz, Alms & Company
[2] Source: Swiss Re COVID-19 Consumer Survey: Financial anxiety, demand for insurance products accelerates across APAC
With a growing network of over 19 offices and 2,700 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.
Mr. Tan Sek Kee, Chief Executive Officer of Berjaya Sompo said, “As a company that cares, we understand that the COVID-19 pandemic has affected many of our policyholders one way or another. It has also affected the way we do our businesses and how we serve and interact with our customers. Our focus is to support our policyholders in their time of need through this crisis. We are drawing lessons from the pandemic and learning to adapt by enhancing our products as well as digitising our processes to serve our customers better during these challenging times.”
Enhancing Products
To ensure its policyholders remain protected and to help lessen their financial burden, Berjaya Sompo had its motor insurance premium reduced by as much as 20 per cent for selected car models. Policyholders can also convert their motor insurance premium into low monthly instalments when they make a payment using a CIMB Bank credit card. For non-motor insurance, Berjaya Sompo had recently introduced the “Interim Claims Payment” for its corporate policyholders when they make an admissible property-related claim for loss or damages caused by Fire, Machinery Breakdown and Equipment, to name a few. Under this new initiative, any corporate policyholder who makes a claim amounting to RM10,000 and above will receive a 20 per cent Interim Claim Payment in advance depending on the assessed or recommended claim amount by the company’s adjuster.
Digitising Processes
As part of Berjaya Sompo’s effort to increase digitisation across its business, the company have started to offer electronic policy delivery (e-Delivery) beginning 1 August 2020, to its policyholders to reduce the policy delivery time. This practice will not only benefit the company’s policyholders, in terms of customer experience but also from an environmental perspective as the company aligns itself to minimizing climate change impact to its operations and business offerings. To drive home the message amongst its employees and accelerate the adoption of digitisation, Berjaya Sompo had embarked on “The Paperless Project” internally to reduce paper consumption in the office and streamline the company’s processes. Within 2 months, the company had cleared 206.62 meters stack of papers or approximately 1.65 million pieces of A4 papers, thus reducing its carbon footprint from the use of papers only by about 80% based on the estimated calculation by www.carbonfootprint.com/calculator. Berjaya Sompo also introduced digital signature as part of its approval process for most of its internal documents, with the exception of legal documents.
Improving Service Levels
Despite, the company’s work-from-home (WFH) arrangements during the Movement Order Control by the Malaysian Government, Berjaya Sompo remains committed to delivering the highest standard of customer service. The company had invested in upgrading and revamping the integration system for its contact centre in Q4 2019, and by leveraging on this newly implemented technology, 100% WFH for the customer service and contact centre team in Q1 2020 was made possible within 24 hours of MCO being announced by the Government, which was a feat to have been able to achieve by a financial services institution during the height of the crisis, with minimal disruption to its service level delivered. The company also ensured while its workforce was working from home, policyholders can continue to make motor insurance claims, by submitting the required documents via email instead of physical submissions and assessments for e-claims processing. With the successful implementation and utilization of the contact centre technology, the company will continue to look for ways to digitize its customer engagement touchpoints and improve the overall service levels that will ultimately drive business results.
Mr. Tan added, “A study in 2019 shows that most of the ASEAN insurers will be focusing on digitising their operations and are willing to invest up to 2 per cent of their total revenue to support their digital initiatives[1]. We believe that this trend will continue especially in times like these. In fact, the COVID-19 crisis had accelerated the demand for insurance products and services online. In a different study, the survey shows that consumers are more likely to choose an insurer that can process policies online from start to finish and the ability to process claims online[2]. That said, we are looking at reengineering our processes to reduce redundancy and duplication.”
With these plans in place, Berjaya Sompo remains fully committed to caring and protecting Malaysians at this historic time of the pandemic. Berjaya Sompo will be launching the final instalment of the brand thematic campaign Silent Guardians trilogy in August 2020 to showcase how the brand remains steadfast in protecting and helping its customers in the new normal, so they can continue to live and care for others freely.
Download a copy of the media statement here.
[1] Source: The ASEAN Insurance Pulse 2019 by Malaysian Reinsurance Bhd and Dr Schanz, Alms & Company
[2] Source: Swiss Re COVID-19 Consumer Survey: Financial anxiety, demand for insurance products accelerates across APAC