MSIG is embracing the future of insurance, where AI handles claims, robots process renewals, and customers buy coverage through lifestyle apps.
In a year of continued digital adoption, MSIG Insurance (Singapore) has clinched Personal Lines Insurer of the Year at the Asia Consumer Insurance Awards 2025. The win spotlights the insurer’s sustained focus on digital innovation, backed by solid financial growth and product advancements.
The Singapore-based insurer’s profit after tax rose 51% to S$33.7m while maintaining stable insurance revenue of S$302.3m. The personal lines segment, led by Personal Accident & Travel insurance, contributed nearly 40% of revenue. Their retail customer base also expanded by 26% year-on-year, while personal lines policies through online channels saw a 30% increase.
MSIG has rolled out several differentiated products to address evolving customer needs. Their PA RecoveryPlus reinvents personal accident coverage by combining traditional protection with lifestyle benefits. Its HomeEasy product tackles modern risks head-on by incorporating personal cyber protection alongside conventional home coverage. For pet owners, PawEasy offers the market’s highest pet hospitalisation and surgery coverage.
A notable achievement came in March 2025 with TravelEasy Flex, a customisable travel insurance product that helped drive travel insurance revenue up by 50% in Q2 2025.
Digital transformation remains a key driver of MSIG’s operational and customer service improvements. Deploying generative AI across customer service channel has further improved email response rates to 97.5%, up from a strong 95.3%, reflecting the company’s commitment to leverage technology for faster and more efficient customer interactions.
Behind the scenes, robots are expediting operations. Through Robotic Process Automation (RPA), MSIG automated policy issuance, motor and retail insurance renewals underwriting and travel claim settlements, saving over 31,200 work hours annually. One in five travel claims is now automatically approved and paid within just two working days.
A recent website revamp has significantly enhanced user experience, with bounce rates dropping from 45.9% to 23.8% while engagement increased from 54.1% to 76.2%.
MSIG’s Google reviews rating rose from 4.4 to 4.5 stars in 2024, reflecting growing customer satisfaction with their digital-first approach to insurance. As traditional barriers between insurers and customers continue to fall, MSIG’s transformation offers a glimpse into the future of insurance – one that’s more accessible, efficient, and attuned to modern consumer needs.
