SINGAPORE –
Media OutReach Newswire – 20 August 2024 – MSIG Insurance has partnered with its intermediary, Embed Global, to simplify the purchasing journey for business insurance through the Whatsapp platform. This marks the general insurer’s second foray using a WhatsApp chatbot to automate insurance quotations, with the target market of small and medium-sized enterprises (SMEs) this time round.[1]
The process of obtaining business insurance coverage is streamlined through a chatbot-led conversation. This intuitive experience significantly reduces the time required for SME clients who need to provide just some basic information to receive an instant quote. They can complete the transaction via a payment link provided by the chatbot and receive their e-policies by email.
The automation leverages Artificial Intelligence and an Application Programming Interface (API) to connect the chatbot to MSIG’s underwriting and rating model. This helps to facilitate the seamless quotation for SMEs to purchase SUMO, a business insurance package underwritten by MSIG.
This all-in-one policy provides coverage for property, liability, business interruption and employee-related risks, and offers the option for SMEs to further customise benefits to suit their needs.
Mack Eng, CEO of MSIG Singapore said, “The availability of appropriate insurance policy cover is important for business continuity and success of SMEs, which constitute 99% of businesses in Singapore. Lack of insurance protection or underinsurance can significantly hinder their growth with ripple effects impacting the economy. Through our collaboration with Embed Global, we aim to foster entrepreneurship by making insurance both accessible and affordable. This partnership ensures our SME clients have adequate financial protection to navigate risk events and recover swiftly.”
Dennis Ng, CEO of Embed Global added, “As a homegrown company, we are thrilled to collaborate with MSIG to enhance insurance accessibility for SMEs and support small business owners in their growth journey. MSIG is a reliable and trusted insurer with a proven history in business insurance. Their extensive knowledge and expertise align well with our mission to empower customers with simple, essential insurance.”
Kenny Yap, Senior Vice President, Corporate Distribution, MSIG Singapore said, “Technology and automation play a vital role in helping us build stronger relationships with SMEs. By expanding our distribution through new digital touchpoints like Whatsapp, it will streamline to make it easier and more efficient for SMEs to secure insurance to protect their assets and their employees. This initiative continues to underscore our commitment to serve the SME segment in innovative ways.”
SMEs who wish to be covered by MSIG’s business insurance package – SUMO, can access Embed Global’s chatbot at +65 8915 4640 or
https://embed.global/besafe.
Hashtag: #MSIG
The issuer is solely responsible for the content of this announcement.
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