Singapore – February 26 2019 – Leading cloud communications platform, Wavecell, has announced today that they, in collaboration with Merimen, are conducting a pilot programme with MSIG Insurance for their Video Interaction tool. MSIG is the first general insurer in Singapore to foray into video technology to optimise their motor claims process.
“Video interaction technology is revolutionising the motor claims industry by bringing back personalisation in customer service, enhanced through technology”, shared Marc Magnin, Head of Product, Wavecell Pte Ltd.
Merimen’s TrueSight Interactive Video, Powered by Wavecell
Merimen is the wholly-owned subsidiary of Silverlake Axis. The company offers Claims Management Software-as-a-Service (SaaS) for the motor insurance industry. Merimen’s TrueSight Interactive Video will allow insurance players to leverage on the tool to enhance claims process, improve efficiency and make their way into digital transformation one step at a time.
With TrueSight Interactive Video tool, survey agents can launch a video call on their web browser through a simple link. A claim assessment is completed within minutes, instead of surveyors having to travel down or arrange a physical meetup, which may take two to four days. The technology offers remote camera control, annotation, and geolocation features, which cut costs and maximise efficiency of claims surveyors. Capable of recording high definition images in real time, the risk of fraud from remote surveys is significantly reduced through the video interaction technology.
Merimen’s Head of Business Development & Singapore Operations, Fabian Lum, shared, “As the market leader in Insurance technology, Merimen commits to pioneering innovation for our customers. Our latest Interactive Video product aims to transform the damage survey process, and help insurers achieve increased survey efficiency and related cost savings.”
MSIG Insurance Pilot Programme
MSIG Insurance entered into the pilot programme, pioneering the use of video technology to optimise their motor claims processes to improve customer experience. Since the start of the pilot programme, they have already seen noteworthy results, with distance traveled and time taken for each claims assessment reduced significantly.
“The use of video technology has digitally enabled our people to engage with our workshops and our customers more efficiently”, shared Jeremy Lian, Senior Vice President (Technical Services), MSIG Insurance.
MSIG expresses a positive outlook on the programme, with plans to implement video technology as a permanent function. Merimen, with the support of Wavecell, will be showcasing and presenting their Video Interaction technology during the Asian Financial Services Congress 2019, featuring an exclusive case study of MSIG’s pilot programme.
About MSIG Insurance
MSIG Insurance (Singapore) Pte. Ltd. (MSIG Singapore), a member of the MS&AD Insurance Group, is Singapore’s 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. Wholly owned by MSIG Holdings (Asia) Pte Ltd, MSIG Singapore holds an A+/Stable financial rating by Standard & Poor’s.
Merimen is Asia’s leading Insurance Software-as-a-Service (SaaS) company. Serving more than 130 insurers across 8 countries, Merimen’s policy underwriting and claims processing platforms facilitate over USD 3 billion of insurance transactions annually. Merimen is a wholly-owned subsidiary of Silverlake Axis Ltd (SGX Mainboard-listed) where they are a leading provider of Digital Economy Solutions and Services to major organisations in Banking, Insurance, Payments, Retail and Logistics industries.
Wavecell simplifies real-time communications using Messaging, Chat Apps, Video Interaction and Voice solutions for any platforms such as applications, websites, and services. Our strength lies in offering cloud-based multichannel communications to developers and enterprises for them to build better services by integrating our APIs and SDKs. Wavecell ensures first-class connectivity to more than 190 countries while maintaining high-security standards on the platform.