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New e-policy delivery system for Malaysia

Malaysia has seen the launch of its first-in-market messaging app e-Policy delivery system. The system enables customers to instantly download insurance policies via the mobile application at their convenience.

To further complement customer experience, the life insurer that developed the tech also introduced a chatbot to provide instant and efficient customer service on the popular messaging app at any time.

Technological advancements have driven a change in consumer behaviour where today’s customers expect instant gratification.

To meet this demand, the system delivers immediacy and convenience to its customers by leveraging the messaging platform. In this way, customers can easily retrieve their insurance policies whenever they want, gain answers to their queries instantly and at any time and even download claim documents.

Upon policy issuance, a customer will receive an SMS informing them that their e-Policy is ready together with a link to download the e-Policy on the messaging app.

Presently, Malaysia is ripe with opportunities in terms of the deployment of digital solutions that can further enhance the level of customer engagement and experience.

The launch of the innovative initiative marks another milestone in Malaysia’s digital transformation journey.

Digital capabilities and reach will continue to expand to ensure that protection can be easily accessible to all Malaysians.

According to an earlier report, Malaysia’s Internet penetration has risen to 85.7 per cent from just 70.0 per cent in 2015.

In a statement, the country’s Chief Statistician stated that last year, in households across Malaysia, computer and mobile phone access rose to 74.1 per cent and 98.1 per cent respectively, compared with 67.6 per cent and 97.9 per cent in 2015.

Individuals using Internet aged 15 years and above in Malaysia rose by nine percentage points to 80.1 per cent in 2017, from 71.1 per cent in 2015.

The data shows information technology and communication (ICT) is experiencing rapid growth in Malaysia.

According to the Individual and Household Survey Report on ICT Usage and Access, the percentage of individuals using computers have also increased 1.1 per cent to 69.8 per cent compared to 68.7 per cent in 2015.

Smartphone usage for internet access also increased to 97.7 per cent compared to 97.5 per cent in 2015.

On mainstream internet activity, among the popular activities are social networking sites with 86.3 per cent and downloading images, movies, videos or music and playing or downloading video games at 81.2 per cent.

In addition, obtaining information on goods and services was recorded to be 80.4 per cent while downloading software or applications was 74.5 per cent. Sending or receiving emails was at 70.4 per cent.

Other activities carried out by internet users are internet banking and purchase or order goods or services (e-commerce).

The percentage of household access to the internet increased to 85.7 per cent compared to 70.1 per cent in 2015.

Digital penetration and internet usage across the nation have been increasing steadily over the last few years. Proving that the government is making strides with regards to its aim of pushing Malaysia into the Industry 4.0 era.

It is clear from the data above that now is the perfect time for enterprises across the region to leverage the growing rate of digital and internet penetration in the region through innovation.

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