The Story of MSIG Insurance
KEY HIGHLIGHTS:
MSIG Insurance was sending claims agents onsite to review vehicle accidents and claims
MSIG Insurance started using 8x8 Video Interaction in collaboration with Merimen to start processing claims remotely
This resulted in a much faster turnaround time for claims, creating more satisfied customers and cost savings for MSIG.
In collaboration with Merimen, 8x8 is conducting a pilot program with MSIG Insurance for 8x8 Video Interaction. MSIG is the first general insurer in Singapore to foray into video technology to optimize their motor claims process.
“Video interaction technology is revolutionizing the motor claims industry by bringing back personalization in customer service, enhanced through technology”, shared Marc Magnin, Head of 8x8 Video Interaction Product Management.
Merimen is the wholly-owned subsidiary of Silverlake Axis. The company offers Claims Management Software-as-a-Service (SaaS) for the motor insurance industry. Merimen’s TrueSight Interactive Video will allow insurance companies to leverage the tool to enhance the claims process, improve efficiency, and further digital transformation.
With TrueSight Interactive Video, survey agents can launch a video call on their web browser through a simple link. A claim assessment is completed within minutes, instead of surveyors having to travel onsite or arrange a physical meetup, which may take two to four days. The technology offers remote camera control, annotation, and geolocation features, which cut costs and maximize efficiency of claims surveyors. Capable of recording high definition images in real-time, the risk of fraud from remote surveys is significantly reduced.
MSIG Insurance entered into the pilot program, pioneering the use of video technology to optimize their motor claims processes to improve customer experience. Since the start of the pilot program, they have already seen noteworthy results, with distance traveled and time taken for each claims assessment reduced significantly.
MSIG expresses a positive outlook on the program, with plans to implement video technology as a permanent function.
MSIG Insurance (Singapore) Pte. Ltd., a member of the MS&AD Insurance Group, is Singapore’s leading general insurer. With a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection. Wholly owned by MSIG Holdings (Asia) Pte Ltd, MSIG Singapore holds an A+/Stable financial rating by Standard & Poor’s.
Merimen is Asia’s leading Insurance SaaS company. Serving more than 130 insurers across 8 countries, Merimen’s policy underwriting and claims processing platforms facilitate over $3 billion of insurance transactions annually. Merimen is a wholly-owned subsidiary of Silverlake Axis Ltd (SGX Mainboard-listed) in which they are a leading provider of Digital Economy Solutions and Services.
