MSIG Singapore receives top honours as Best General Insurer

SINGAPORE - Media OutReach Newswire - 30 July 2024 - MSIG Insurance has clinched the prestigious title of 'Best General Insurer for Singapore' in the 2024 Country Awards for Excellence by InsuranceAsia News.

This annual award celebrates outstanding performance in the insurance industry, with winners evaluated on their business achievements, innovation and market impact.

Commenting on the win, CEO of MSIG Singapore, Mack Eng said, "We are honoured to be named the 'Best General Insurer for Singapore'. This recognition underscores our unwavering commitment to excellence and customer satisfaction. As we continue to grow as a leading general insurer in Singapore, this award is dedicated to our team, for aspiring and delivering superior service, and to our valued business partners for bringing value together to our customers."

MSIG's success is fuelled by its digital-first approach and strategic partnerships, with notable tied ups with leading industry players such as HSBC Singapore and Scoot Airlines to offer tailored insurance solutions to a broad customer base; and collaborating with its business and intermediary partners to mitigate risks for SMEs and corporations.

In the past year, the general insurer has rolled out new and enhanced offerings including electric vehicle coverage, a simplified yet comprehensive SME package product, and a Regional Insurance program to support small and medium-sized enterprises' expansion beyond Singapore shores. Its latest product - PA RecoveryPlus - provides comprehensive coverage across essential, recovery support and lifestyle benefits, catering to customers at different life stages with vital benefits extending to home recovery assistance and permanent caregiver grant.

MSIG has also leveraged smart technologies such as ChatGPT to further elevate its customer service and advanced AI solution in claims management, with the latter winning a separate award for setting a new industry standard in motor fraud prevention.

Amidst its drive for innovation, people development remains a key focus for MSIG, with progressive policies, staff training, reward and recognition programs contributing to a culture of collaboration and high performance. Its commitment to employee well-being is further exemplified with initiatives like Flexible Work Arrangement, Mental Health Support and Total Employee Wellness Program to attract, engage and retain talents.

"Employee engagement and business results are closely linked. By delivering meaningful and engaging staff programs, we want to create a positive work culture at MSIG where our people are encouraged to go above and beyond every day for our customers and business partners," said Sharon Teo, Senior Vice President of Corporate Services, MSIG Singapore.

For more details on the award winners, visit InsuranceAsia News' website here.
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The issuer is solely responsible for the content of this announcement.

About MSIG Insurance (“MSIG”)

A leading general insurer with a local presence of over 100 years, MSIG Singapore offers an extensive range of insurance solutions for commercial and personal risk protection, enabling the security and safety of individuals and businesses. MSIG Singapore holds an A+/Stable financial rating by Standard & Poor's.

A testament to its growing strength and influence, MSIG Singapore has garnered numerous awards for delivering digitally innovative and customer-centric solutions.

MSIG is a subsidiary of Mitsui Sumitomo Insurance Co., Ltd, and a member of the MS&AD Insurance Group – one of the largest general insurance groups in the world with presence in 50 countries and regions globally, 18 of which are in Asia Pacific including all ASEAN markets as well as in Australia, New Zealand, China, Hong Kong, Taiwan, South Korea and India. Headquartered in Japan, MS&AD is amongst the top non-life insurance groups in the world based on gross revenue.