MSIG Singapore has partnered with Fermion Merimen to transform its claims management processes and workflows with the adoption of a new digital claims system.
The system, which went live on April 1, digitalises and streamlines MSIG’s end-to-end claims processes for over 50 products across more than 10 insurance classes. According to MSIG, the unified system allows it to modernise its claims processing across its entire portfolio of both personal and commercial lines of business.
Among MSIG’s technological endeavours is the building of a plug-and-play insurance technology system that incorporates artificial intelligence. Through the digitalisation of its processes, MSIG will be able to collect and analyse more structured data – paving the way for use of new analytical tools in the future to generate insights that can help prevent fraud and assess risk.
“Working with Fermion has provided us with the expertise to implement technology solutions to enable our business success,” said Sam Tan, senior vice president, claims services, MSIG Singapore. “By shifting our claims operations to a digital-first approach, we are able to put our data to work and expand our competitive edge while delivering long-term value with the integration of environmentally sustainable practices.”
“Even the best technology requires a visionary to bring it to life,” said Sebastian Tan, country director of Fermion Merimen Singapore. “MSIG has continually challenged us with their pioneering ideas on ways to digitalise and innovate on their processes. We are proud to have worked closely with MSIG during this project to push the boundary for claims innovation.”
