Liberty Insurance Adopts Digital Technology For Claims Settlements

Liberty Insurance is adopting digital technology initiatives in the settlement of insurance claims. Thus far policyholders of Liberty Insurance Private Car EZY Plus (comprehensive), House Owner, House Holder plans with flood cover are able to get their claims processed within two to three working days (down from about seven days previously).

Recently, Liberty Insurance policyholders in flood-hit areas had received claims amounting to RM270,887, with the aid of its proprietary Video Appraisal technology. This technology initiative has helped to cut the turnaround time for claims by half.

According to Mr Puneet Pasricha, Liberty Insurance Malaysia Berhad’s Chief Executive Officer, the company is cognisant of the dire situations facing the people, particularly in flood-prone states such as Johor, Kelantan, Terengganu, Pahang, Selangor, Perak and Sarawak.

“Recognising the added pressure and stress on claimants in these trying times, we are committed to ease their load where possible. While the technology and digital adoption paved the way to make this possible, our real drive to pioneer this effort is because we want to put people first.”

“Our message to Malaysians is simple: We care for you! We are committed to deliver on our promises to provide protection to those in need and to do so promptly. We recognise that our policyholders in affected areas will need these payouts to rebuild their lives, and thanks to our proprietary technology, we can do our part in alleviating their burden,” said Mr Pasricha who also highlighted that this is in line with the company’s mission to help people live safer, more secure lives.

Liberty Insurance Malaysia Berhad is a subsidiary of Liberty Mutual Group with 25 branches in Malaysia. Its distribution network also includes 700 POS Malaysia outlets, 500 franchise and car dealers, 3 franchise holders and 2 bancassurance partners.

Mr Pasricha also explained that the Video Appraisal technology allows Liberty Insurance’s examiners to virtually conduct surveys from their homes or office.

“Upon notification by the claimants, the claim will be registered within Liberty Insurance’s digital platform – Merimen system, using the claimant’s mobile number. Then, our examiners will contact the given numbers to provide a linkage video with the claimants. Our examiners can then take photographs of the damages with guidance of the claimants using his phone at site,” he said. “Once completed, Liberty Insurance’s examiners will assess the damages from the photos taken and evaluate the claim amount and subsequently proceed with the offer to the claimant.”

The company has activated its Claim Flood protocols involving branch personnel and external adjusters to provide claims services and surveys at affected areas i.e. Pahang, Johor, Terengganu and Sarawak.

“This includes helping our policyholders affected with their claims, which are now simplified, and meting out compensations,” he added.

For larger losses, Liberty Insurance is prepared to assist by compensating interim payments to alleviate the unfortunate situation and help our policyholders to recoup their losses faster.

To further simplify the process, the affected policyholders are not required to submit any documentation. Upon notification, Liberty Insurance personnel will assess the damages and present a settlement offer. If the amount is acceptable, a discharge voucher will be signed and the Company will proceed with payment processing.

The company has also established a dedicated toll-free customer care line for reporting of flood claims as well as any enquiries relating to submission, processing and status of their claim.

For more information on Liberty Insurance, check out: www.libertyinsurance.com.my.
Policyholders looking to make their flood claims can contact the company’s Customer
Care Line (1-300-888-990).