(Image credit: Singapore.)
As part of its ongoing digital transformation effort, MSIG Singapore has selected Fermion Merimen (Serdang, Malaysia) for a large-scale project to transform its claims management processes and workflows.
MSIG has deployed Fermion Merimen’s eClaims platform to digitize and streamline the company’s end-to-end claims processes for over fifty products across more than ten insurance classes. The system enables a seamless digital experience for MSIG’s users and further enhances productivity, compliance control and customer satisfaction during the process. The unified system allows MSIG to modernize its claims processing across its entire portfolio of both personal and commercial lines of business, according to a Fermion Merimen statement.
MSIG is currently building a foundation for a plug-and-play insurance technology system that incorporates artificial intelligence (AI), according to the Fermion Merimen statement. Through the digitalization of its processes, MSIG will be able to collect and analyze 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, the statement says.
“Working with Fermion has provided us with the expertise to implement technology solutions to enable our business success,” Sam Tan, SVP, 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,” comments Sebastian Tan, Country Director, Fermion Merimen Singapore. “MSIG has continually challenged us with their pioneering ideas on ways to digitalize and innovate on their processes. We are proud to have worked closely with MSIG during this project to push the boundary for claims innovation.”