MSIG Hong Kong has published its annual claims report for 2024, revealing continued progress in claims settlement and operational efficiency across Hong Kong and Macau.
The insurer reported a claims settlement ratio of 94.5% for the year, an increase from 92.4% in 2021, marking three consecutive years of improvement.
The total value of claims settled reached HK$347,983,977.
The report also noted a reduction in customer complaints, with only nine complaints recorded during the year, compared to 13 in 2023 and 50 in 2020.
Notably, the Employees’ Compensation Hong Kong and Marine insurance categories both achieved a 100% settlement ratio for the first time.
Helper Insurance and Personal Accident lines followed with settlement ratios of 99.17% and 96.85%, respectively.
MSIG Hong Kong has placed a strong emphasis on streamlining claims processing, aiming to deliver faster and more efficient service to policyholders.
The company’s ongoing investment in digital tools has resulted in quicker resolution times and fewer manual interventions for straightforward claims.
Philip Kent, CEO of MSIG Hong Kong, said the company prioritises delivering reliable service to its customers.
“By making the claims process faster and easier, we aim to help each of our customers move forward with assurance that they will receive the financial compensation they are owed Innovation is at the heart of this, and our teams should be proud of the industry recognition they have received for their efforts,” he said.
The introduction of Zero Touch, a digital claims assessment platform launched in late 2023, has led to significant operational improvements.
For Helper Insurance, the average processing time for eligible clinical and dental claims has been reduced from several days to as little as 15 minutes.
The company reported that nearly three-quarters of Helper claims are now processed automatically, freeing up more than 200 working days annually for claims staff.
MSIG plans to expand the Zero Touch platform to its medical insurance products in the near future.
Throughout 2024 and into early 2025, MSIG has rolled out several new services designed to enhance the customer experience:
The insurer also launched a campaign, “Serving with Heart, Putting You above All,” to communicate the value of a seamless claims process through digital media and partnerships with industry influencers.
The release of the claims report aligns with MSIG Asia’s broader strategic plan to drive growth through 2029.
As part of the MS&AD Insurance Group, MSIG Asia is targeting a compound annual growth rate of more than 15% in profit after tax by 2029.
The strategy includes building specialised teams, expanding partnerships with managing general agents and digital platforms, and leveraging advanced data analytics and technology to improve product offerings and customer engagement.
