SINGAPORE - Media OutReach - 4 July 2018 -Committed to its mission of humanising insurance, Etiqa Insurance has launched a 30-minute fast Own Damage (OD) claims approval for its motor policyholders, a first-ever feature in the motor insurance sector in Singapore.
Motor claims approval generally takes approximately 1 to 2 days to process. Etiqa, with its 22 quality authorised workshops, has streamlined the motor claims submission process and greatly reduced their approval time. Upon receiving the necessary claims and estimated damage documents, repair claims of up to S$5,000 can be approved in just 30 minutes. Motor vehicle owners can expect to get their vehicles back on the road much sooner, minimising inconvenience.
"The motor insurance industry is a very competitive market, and we would like to offer our customers great value beyond a competitive price. By speeding up the approval process, we reduce stress and provide better peace of mind to motor vehicle owners," said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore.
Following their successful launch of the first-ever automated Straight Through Processing (STP) of travel claims with instant payout via PayNow, the progressive insurer is once again revamping the motor insurance scene with their fast 30-minute claims approval.
The innovative insurer and its partners recognise the importance of speed in an increasingly time-deprived society. Sue added, "Our authorised workshops are cooperative in this initiative and are looking forward to provide a seamless claims experience to our customers."
Etiqa Insurance is the winner of 'Insurer Claims Team of the Year' award at Claims Awards Asia-Pacific 2017 and the 'Most Innovative Finance Firm -- Singapore 2018' award at the 2018 World Finance Markets Awards. The leading online insurer believes in their brand promise of humanising insurance and continues to deliver first-in-market digital solutions and services with the aim to improve customers' lifestyles.
For a limited time only, customers can also enjoy up to 28% savings on private car insurance.
For more information, please visit www.etiqa.com.sg
Etiqa Insurance -- A Singapore Insurance Company with Asian and International Expertise
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS). In July 2017, Fitch affirmed the company's "A-" rating for its financial strength and stable outlook.
Etiqa has been protecting Singaporeans since 1961 with a range of general insurance solutions that constantly evolve to meet their ever-changing needs. As the appointed insurer for the Housing Development Board (HDB) Fire Insurance Scheme in Singapore, we have been protecting homes since 2009. In August 2014, we added a comprehensive suite of life insurance solutions to our stable of products.
Etiqa is owned by Maybank Ageas Holdings Berhad, a joint venture company that combines local market knowledge with international insurance expertise. The company is 69% owned by Maybank, one of Asia's leading banking groups with more than 22 million customers worldwide in 20 countries; and 31% by Ageas, an international insurance group with 33 million customers across 16 countries and a heritage that spans over 180 years, with a focus to provide world class insurance solutions to consumers in Europe and Asia through market leading joint ventures.
At Etiqa, we believe in our brand promise of humanising insurance, by placing people over policies in everything we do. We are passionate about helping Singaporeans protect themselves and their loved ones today and helping them plan for a financially secure tomorrow.
Authors: Media Outreach