Malayan Insurance: Ramping up digital touchpoints ahead of 93rd anniversary

MANILA, Philippines — The world has gone digital. From communications to entertainment, shopping to dining, travel to insurance, digitalization has now become mission-critical, whether by choice or out of necessity. 

Malayan Insurance recognizes this monumental shift. That’s why in celebration of its 93rd anniversary, the company is taking digitalization a notch higher across all platforms by ensuring customer satisfaction and expanding and strengthening its partnerships. 

By revolutionizing its digital assets, Malayan is able to extend various services to its partners through technology, allowing them to offer insurance to the market in the most efficient and accessible way. 

“These, combined, will continue to make the legacy of Malayan Insurance as the most trusted and No. 1 non-life insurer in the country,” said Paolo Y. Abaya, president and chief executive officer of Malayan Insurance. 

He added that he’s grateful for the continued trust of their partners and clients as this allows them to have a positive outlook as it faces 2023. “We are committed to continually exploring new services and products that will enrich your everyday life and to setting the standard for excellence in the non-life insurance industry through our focus on trust and innovation.”

Reshaping customer experience through digitalization

In its endeavor to continue being the Philippines’ most trusted non-life insurance company, Malayan hones in on the needs of its customers. The company leverages digitalization by reimagining customer journeys and redesigning digitally-enhanced touchpoints by recently establishing a Customer Experience (CX) unit. 

CX is responsible for creating satisfying experiences for policyholders by focusing on reshaping customer experience, leading to long-lasting relationships.

Malayan’s e-Commerce site, for example, provides a seamless experience by enabling clients to buy insurance no matter where they are. 

It's one of Malayan’s many initiatives to make sure that customers can avail of their products and services without the hassle of having to go out of their way or change their schedules.

As part of this initiative, the company launched Malayan Insurance Convenient Assistant or MICA. It’s a multi-functional digital tool that empowers Malayan agents to provide swift and efficient insurance services to their clients.

MICA enables insurance agents to manage and grow their business with Malayan through digital self-service – wherever they are, whatever work set-up they are in and at their most convenient time.

It opens to a comprehensive suite of tools designed to present retail insurance offerings, proposals, closing-sales and after-sales services so that agents can serve their clients without having to visit an office or a branch. 

Customers are treated to direct 24/7 access to select retail products, request for a quotation or a statement of account and enrolment and policy issuance, among others.

As such, MICA is able to make the life of insurance agents much easier, thereby increasing their productivity, earning and time spent with family. With just a few clicks on their laptops or swipes on their mobile phones, agents need not go through the hassle of braving Metro Manila traffic.

As for its policyholders, MICA ensures that requests for quotations and the filing of claims would be accommodated by Malayan agents anytime and anywhere for swift online processing. 

The PH’s leading non-life insurer since 1970

Founded in 1930, Malayan Insurance has consistently been the leading non-life insurer in the country since 1970. Its impressive track record over nine decades is a testament to its customer service excellence, particularly in protecting businesses and families through relevant insurance solutions.  

Malayan continues to respond to the changing needs of Filipinos by offering relevant products that ensure their clients’ peace of mind and financial security. 

Malayan Insurance has reaped numerous accolades both in the Philippines and abroad as proof of this dedication. During the 7th Insurance Asia Awards in August 2022, the company was recognized for its exceptional delivery of customer-centric products and services that have helped uplift the lives of Filipinos during the pandemic. 

It bagged the “Domestic General Insurer of the Year” and “New Insurance Product of the Year” for Pet Care, the first product of its kind in the Philippines. The product enables pet owners to fully address the medical needs of their dogs without straining their finances. Policyholders can reimburse costs incurred during veterinary treatment or confinement if the insured pet gets into an accident or gets sick among other benefits.

Malayan Insurance continues to dominate the non-life insurance sector as affirmed by the Insurance Commission. The company recorded P15.50 billion gross premiums written in 2021, representing the highest GPW during that period. It also remains one of the country’s largest non-life insurers, with P51.59 billion in total assets in the same year.

Aside from the Insurance Asia Awards, Malayan Insurance also received a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating outlook at “bbb+” (Stable) from insurer rating organization A.M. Best.

For these reasons and more, Malayan Insurance has become the trusted partner of Filipinos in managing uncertainties using its array of comprehensive non-life insurance solutions. 

Malayan Insurance is part of the Yuchengco Group of Companies (YGC), one of the largest conglomerates in the country, with businesses spanning different industries. The Yuchengco group includes the Rizal Commercial Banking Corp. (RCBC), EEI Corp., Mapua University and PetroEnergy Resources Corp., among others.