Berjaya Sompo Aims To Be Top Five General Insurance Providers In Malaysia

Berjaya Sompo, the general insurance provider that is a joint venture between Sompo Japan Nipponkoa Insurance and Berjaya Group has plans to be one of the leading insurance providers by 2020.

The brand’s latest comprehensive motor insurance called Sompo Motor includes special perils coverage up to RM 10,000 or 20 per cent sum insured, whichever lower, coverage for all drivers which includes a waiver of named driver requirement, repairs warranty for 12 months against defects on new parts replaced and workmanship carried out by their panel workshops and emergency towing cost of RM 300 following an accident.

 

(From left) Stuart Chua, Chief Distribution Officer, Tan Sek Kee, CEO and Futoshi Hanahara, Deputy CEO of Berjaya Sompo Insurance.

In a nutshell, Sompo Motor is a comprehensive motor insurance for car owners which reduces the overall add-on costs without going through the tedious task of including add-on benefits. It has add –on benefits that provides a peace of mind to drivers which includes better coverage for older vehicles and full coverage against natural disasters.

“Sompo Motor has reduced the hassle of going through commonly included add-ons for a comprehensive private car insurance by including them in the basic benefits. New add-on benefits also include better coverage for older vehicles and full coverage against natural disasters. We welcome the implementation of motor detariffication as it enables Berjaya Sompo to compete on a level playing ground, giving the spotlight to the true hero: Sompo Motor. With this product, our main focus is enhancing the base level features and service level. We want to ensure we have a product that our customers find useful and beneficial,” said Stuart Chua, Chief Distribution Officer of Berjaya Sompo.

 

Customers can also opt for the full special perils coverage, unlimited towing costs within Malaysia, and waiver of betterment for vehicles up to 15 years. Another new features of Sompo Motor is that it provides consumers with the option to choose the Voluntary Excess of the Policy, ranging from zero per cent to three per cent of the sum insured. Voluntary Excess of the Policy gives consumers the option to pay out of their own pocket for each claim, up to three per cent of the claim amount, in exchange for a lower premium each month.

 

The brand has also mentioned that it is investing heavily in digitalisation as a key focus area to move the brand forward. This includes online product innovation, increasing digital distribution channels, new B2C channels and strengthening the digital infrastructure.

In an effort to bundle insurance packages tailored to the needs of car owners, Berjaya Sompo is collaborating with Honda Malaysia, Mazda Malaysia and Nissan Malaysia.

 

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