Over 26% insurance customers switch to online platform

More customers took out their policies in traditional policies in 2020.

The number of customers who have switched to EASY claims from traditional channels rose 26.9% in 2020. 

In its claims report, the MSIG Insurance (Hong Kong) Limited found a significant increase in the number of customers using EASY Claims online platform to submit claims in 2020. 

Claims submitted through the platform also covered a broader range of products, with a 48.4% increase in claims from non-travel insurance policyholders.

“Although the pandemic has been a challenging period for the insurance industry, it has sent a clear signal that our customers need more and better digital services to adapt,” MSIG CEO Philip Kent said. 

In the same report, MSIG said it honoured some $466.6m worth of claims in Hong Kong and Macau in 2020. It achieved a claims settlement ratio of 91.1% over the same period. 

In terms of settlement ratios by class, the top five in 2020 were Employees' Compensation in Hong Kong (100%), Helper (98.8%), Personal Accident (98.1%), Motor (96.1%), and Healthcare (95.1%).