KUALA LUMPUR: Insurance companies need to embrace digital technology changes that affects the industry as many insurance-related companies are moving ahead with digital solutions for their customers.
AmGeneral Insurance Bhd chief executive officer Derek Roberts said people shop differently now, and the millennials (89 per cent) - largest generation worldwide - are using search engines to find answers before calling customer service.
"While ongoing support continues, we also would like to be onboard with the growing digital space following Bank Negara’s initiative.
"AmGeneral doesn’t just want to embrace digital technologies and provide digital solutions to our customers, we also want to empower our agents and local entrepreneurs to go digital. Together, we can rise up to capture the digital space,” he said.
He pointed out that AmGeneral has been encouraging its agents to utilise the Agents Portal System (APS) that is equipped with digital tools that will help agents make more sales and get into the digital space easily.
“Our iCover templates give agents an option to set up a website for their business quickly and cost-effectively. It comes with the APS transaction portal that will make it easy to customers to buy policies. This will help agents generate sales without even leaving their offices,” he said.
AmGeneral Insurance made the first move by linking up with local startup GITOGO to offer Personal Accident policy with better coverage and better value.
“AmGeneral, through its trusted brands Kurnia and AmAssurance, have been in the market for a long time. We believe that our customers have a high trust in the brand. It’s a very good opportunity to work with a company of such reputation,” said GITOGO founder and managing director, Tan Shu Yoong.
Tan believes that empowering the consumer with knowledge will only benefit the industry in the long run.
“By boosting financial literacy and the awareness of insurance and financial products in the public, we will promote self-reliance in customers so that they can choose suitable products on their own,” he said.
He said the insurance industry was moving towards a more digital direction as the younger generation chooses product or services in a different way.
“We believe that this digital platform will change the perception of public towards insurance,” he said.