MSIG Redesigned Lexus’ Customer Journey with Fermion Merimen’s ePolicy and eClaims Platforms in Vietnam

Key Highlights

Client Needs

• To redesign the policy-to-claims customer journey for a luxury Japanese automotive brand by adopting a digital-first approach
• Optimization of back-end processes to provide an end-to-end platform from policy issuance to claims processing.

The Challenge

As a global luxury car brand, Lexus needed to provide its car owners with top-class insurance that provided fast-track claims services with less paperwork. However, MSIG’s existing process required going through a manual process to purchase policies and verify a motor insurance claim – this process could take up to 10 days, even when the documents are complete and accurate. Incomplete and/or inaccurate documentation would further delay the process and ultimately affect the customer experience.

The Solution

To improve the efficiency of its current policy and claims processes, MSIG Vietnam adopted Fermion Merimen’s ePolicy and eClaims, digital end-to-end platforms which allow customers to have timely interaction with MSIG.

Strategies Implemented

Fermion Merimen’s ePolicy and eClaims platforms enable customers to digitally interact with MSIG for faster and more efficient processing.

With ePolicy, MSIG can do a one-time-issue for all possible coverages of a vehicle including:

• Material damage
• Compulsory third-party liability
• Voluntary third-party liability
• Driver and passenger

After some quick form filling, a policy is issued and sent automatically to the customer with all the certificates that enable the car to be driven on the street with safety, assurance, and legal compliance.

With eClaims, MSIG and Lexus workshops can accelerate claims processing and investigation. Repair quotations and photos of damage are submitted through the eClaims platform and can be received and approved quickly by the MSIG claims team. In some cases requiring further investigation of damages, the claims team uses the TrueSight Interactive Video to do the survey remotely.

The Outcome

• Faster and more efficient claims processing – Together with MSIG, Lexus was able to improve its motor claims efficiency for its clientele. The claims verification process can now be completed within 24 hours when documents are complete and accurate. The digital assessments minimizes manual labour effort and ultimately ensure customers receive their newly repaired cars at a faster rate.
• Information available in real-time – All evidence are stored in real-time, ensuring better risk control and enabling efficient customer service.

About MSIG Vietnam

MSIG Vietnam is a subsidiary of Mitsui Sumitomo Insurance Company, Limited (“MSI”) within MS&AD Insurance Group (“MS&AD Holdings”). Their portfolio expands across properties, marine cargo, liability, engineering and other classes of casualty business in the commercial insurance line, motor, personal accident and travel.

Website: https://www.msig.com.vn/