“You would be shocked at how many SMEs that have no insurance coverage.”
‘Shockingly low’ number of businesses with coverage, says Fike
DAVID FIKE,
Zurich Malaysia general insurance president
ZURICH Insurance Malaysia Bhd aims to grow its non-motor insurance business, which makes up less than 25 per cent of the overall, by focusing on small and medium enterprises (SMEs).
Zurich Malaysia general insurance president David Fike said while 97 per cent of business entities registered locally were SMEs, the number of these businesses with insurance protection was “shockingly low”.
“The most apparent thing that I see in Malaysia is the number of SMEs that really dominate the economy. We have taken some steps and embedded some technology to make it easy for SMEs and our agents to offer coverage to SMEs, which include a mobile platform called Fast Flow Business.
“You would be shocked at how many SMEs that have no insurance coverage. They think that they’ll take the risks. And, we, at Zurich, believe that we are able to provide insurance for these businesses at a very low cost.
“We are looking to our agents and our distribution partners to educate the SME market in order to grow the non-motor segment,” he told NST Business in an interview, here, recently.
Meanwhile, in response to detariffication of the insurance industry,
Zurich Malaysia has launched Z-Driver, a unique value proposition that gives customers value-added and holistic protection on the road.
“With the aim of protecting and growing Zurich’s footprint in the motor insurance/takaful business, Z-Driver is designed to reward good driving behaviour by offering up to 10 per cent discount on motor insurance premiums to customers in the low
risk segments.
“Z-Driver offers six unique benefits and add-ons by allowing customers to tailor their motor coverage according to their needs and preferences.
“Zurich Malaysia is committed towards providing quality service and experience for its customers at every touchpoint with support from its staff and dedicated network of agents nationwide,” said Fike.