RHB eyes 10% gross written premium from digital channel within next 5 years

PETALING JAYA: RHB Insurance Bhd aims to generate 10% of its gross written premium from the digital channel within the next five years, following the launch of the RHB Insurance Mobile App.
“We have built our mobile app on a digital ecosystem that will allow our customers, our agents and other business partners to interact with one another in a seamless way. Our target is to generate 10% of our gross written premium from the digital channel in three to five years,” said its managing director Kong Shu Yin.
For the fourth quarter ended Dec 31, 2017, motor insurance remained the business’ largest contributor delivering 33% of total gross premiums.
“We are confident the RHB Insurance Mobile App will be a catalyst in transforming the way customers purchase and monitor their insurance as well as road tax renewal with just a single app. This effort is in line with our digital transformation programme focusing on delivering value-added interactions, which will empower our customers,” said Kong.
The newly launched app provides customers with a single end-to-end mobile enabled application to purchase motor insurance policy and road tax. The app boasts a three minute timeframe to complete the purchase of their motor insurance policy, the fastest in the financial industry.
The app also provides customers with a quotation for their motor insurance policy and renewing their road tax.
“The app empowers customers with the ability to obtain comprehensive insurance coverage for their vehicles as well as access round-the-clock auto assistance at the touch of their smartphone screens.”
RHB Insurance also launched the “Dah Cover Campaign”, aimed at encouraging Malaysians to obtain personal accident and travel insurance coverage.
RHB Insurance is offering a 40% discount on personal accident and travel insurance during this campaign period, from now till Sept 4.
In addition, a 24/7 roadside assistance programme is provided in the event of a breakdown or accident for cars insured with RHB Insurance under the comprehensive coverage.
RHB Insurance provides general insurance for retail and corporate customers and is the 10th largest insurer in Malaysia with 4.3% market share for gross direct premium.
It is also the top 10 insurers for fire and top five insurers for medical and health coverage. RHB targets to be among the top five insurance providers in the market by 2022.