Business Daily Media

Men's Weekly

.

MSIG Hong Kong’s 2023 Claims Report highlights digital claims enhancements and extraordinary service recognitions

93.2% claims settlement ratio reflects strong customer trust in the insurer

HONG KONG SAR - Media OutReach Newswire - 1 August 2024 - MSIG Insurance (Hong Kong) Limited ("MSIG") today published its fifth annual MSIG Claims Report which presents the total claims honoured in Hong Kong and Macau during the year as well as the insurer's latest initiatives.

In 2023, MSIG's claims settlement ratio reached 93.2% – which has been rising since 2020.

In 2023, MSIG honoured claims totalling HK$312,824,598 in Hong Kong and Macau. The Annual Claims Survey found that the top settlement ratios by class were Employee's Compensation in Hong Kong at 99.63%, followed by Domestic Helper at 97.75% and Marine at 97.14%.

Multiple extreme weather events affected Hong Kong during the autumn of 2023, with a powerful typhoon followed by one of the heaviest periods of rainfall since records began – all of which caused significant damage. MSIG handled over 840 claims related to these events while maintaining clear and timely lines of communication with customers and providing assurance during a difficult and uncertain period.

Philip Kent, Chief Executive Officer of MSIG Hong Kong
, said: "We have always believed that insurance is ultimately a human-to-human industry, and that behind every claim is a personal story. Our investments into our claims processes and tools aim to provide even greater assurance to our customers that they have the support they need when they need it. Be it through medical, travel, home or extreme weather-related protection, we are here to help them on their life journey. I'm proud of the efforts of our teams and look forward to further enhancing our digital capabilities and continuing to offer an extraordinary service experience to our customers as their trusted partner."

MSIG's focus on the customer experience has resulted in industry recognition for claims excellence, receiving notable awards in 2023:

  • Top three finalist in the category of "Outstanding Claims Management Award – General Insurance" – Hong Kong Insurance Awards 2023, organised by the Hong Kong Federation of Insurers
  • "Outstanding Claims Management – Hong Kong" – The InsuranceAsia News Country Awards for Excellence 2023

MSIG further enhanced its claims processes in 2023 with the launch of Zero Touch, a digital solution for claims assessment that streamlines verification of customers' claims history, policy validity and claims payment amounts.

The insurer introduced the MediGo Member Portal for group medical customers, providing comprehensive information on MSIG's outpatient network supported by online claims submission and tracking functions. The new portal has significantly reduced the time it takes to settle claims, with customers receiving their settlement confirmation in as quickly as one working days after submission.

MSIG is continuing to enhance its processes around green claims and prioritise environmental protection for future generations through a range of new initiatives. As part of the insurer's environmentally-conscious and customer-centric approach, it implemented "Eco Living Coverage" for Home Insurance products in Hong Kong and Macau. The coverage from these products now provides an additional allowance of up to HK$1,000 per eligible lost or damaged household appliance, replacing it with a new Energy Label Product that has a minimum Grade 2 recognition under the Mandatory Energy Efficiency Labelling Scheme in Hong Kong.
Hashtag: #MSIGHongKong






The issuer is solely responsible for the content of this announcement.

About MSIG Insurance (Hong Kong) Limited (“MSIG Hong Kong”)

MSIG Hong Kong is a wholly owned subsidiary of Mitsui Sumitomo Insurance Company Limited and a member of the MS&AD Insurance Group, Asia's leading general insurance brand with presence in 50 countries and regions globally. The Group is amongst the world's top 10 insurance groups based on gross revenue and one of Japan's leading insurers with A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, Mainland China, Korea, India and Taiwan.

MSIG Hong Kong offers a wide range of solutions and services through an extensive distribution network including agents, brokers, and bancassurance alliances with leading banks. It has been providing general insurance solutions to customers in Hong Kong for more than 160 years, dating as far back as 1855.

News from Asia

Rhenus 4PL Solutions Brings Digital Logistics Expertise Support To The Circular Economy Initiative Of Looper Textile Co. And REMONDIS

Circular textiles at industrial scale: Looper Textile Co. collects, sorts and processes up to 150 million garments annually for reuse and recycling. Digital coordination by Rhenus...

ISCA and SHICPA Sign MOU to Strengthen Support for Accountancy Professionals and Firms in Shanghai

SINGAPORE - Media OutReach Newswire - 8 July 2025 - The Institute of Singapore Chartered Accountants (ISCA) and the Shanghai Institute of Certified Public Accountants (SHICPA) have signed a Memora...

Proscenic Launches Major Prime Day 2025 Sale with Up to 40% Off Best-Selling Vacuums Starting at €89

SHENZHEN, CHINA - Media OutReach Newswire - 8 July 2025 - Smart home innovator Proscenic is kicking off Prime Day 2025 with one of its biggest sales yet, offering up to 40% off its top-rated vacuu...

Arrow Electronics Launches Engineering Solutions Center to Support Tech Innovation Across India and Southeast Asia

BANGALORE, INDIA - Media OutReach Newswire - 9 July 2025 - Arrow Electronics, a global provider of technology solutions, today announced the launch of its new Engineering Solutions Center(ESC) in ...

XIXILI Introduces Jelly Padded Bras: A Game-Changer in Everyday Comfort

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 9 July 2025 - Renowned for empowering women through inclusivity and thoughtful design, XIXILI announces the arrival of its latest bra collection:...

Jurassic World: The Experience Roars Into Bangkok - 8 August 2025 At Asiatique The Riverfront Destination

BANGKOK, THAILAND - Media OutReach Newswire - 9 July 2025 - Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate group, together with NEON and Universal Destinations ...

Health2Sync and Novo Nordisk Pharma Korea, Ltd. Launch Smart Cap Mallya® for FlexTouch® Insulin Pens Integration in South Korea, Enhancing insulin administration via Digital Diabetes Care

SEOUL, SOUTH KOREA - Media OutReach Newswire - 9 July 2025 - Health2Sync, Asia's leading digital chronic disease management platform, announced the successful integration of Smart Cap Mallya® for ...

E-commerce Platform Wildberries Pilots Its Own Taxi Service

MINSK, BELARUS - Media OutReach Newswire - 9 July 2025 - Wildberries, a leading e-commerce platform in Eurasia, has begun testing its own ride-hailing service in Belarus. The company expects the n...

DYXnet Awarded ISO/IEC 42001 AI Management System Certification by SGS

Leading the New Era of AI in Hong Kong's Telecommunications Industry HONG KONG SAR - Media OutReach Newswire - 9 July 2025 - DYXnet, a wholly-owned subsidiary of VNET Group, Inc...

Prince Foundation Extends Support for Children’s Healthcare in Cambodia Through Cambodia Kantha Bopha Foundation, Reflecting Commitment Guided by Neak Oknha Chen Zhi

PHNOM PENH, CAMBODIA - Media OutReach Newswire - 9 July 2025 - Prince Foundation, the philanthropic arm of Prince Holding Group under the leadership of Neak Oknha Chen Zhi, has reaffirmed its ong...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Demand for Home Batteries surges as Federal Rebate Kicks In

A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

Why Sport Remains the Safest Bet in an Uncertain World

When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

Sell by LayBy