Saturday, October 19

RHB Insurance eyes RM5 mln in premiums in 12 months

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KUALA LUMPUR: RHB Insurance Bhd, a general insurance provider for retail and corporate customers, is targeting premiums of RM5 million from 10,000 policy holders over the next 12 months by leveraging on the launch of its RHB Insurance Mobile App.

Managing director Kong Shu Yin said the group has targeted 10 per cent of its total gross written premium to originate from the digital channel within three to five years.

“RHB also aims to be among the top five insurance providers in the market by 2022,” he told reporters at the app launch yesterday.

Kong said RHB Insurance is currently ranked the country’s 10th largest insurer with a 4.3 per cent market share of gross direct premiums.

“We are among the top 10 insurers for fire and top five insurers for medical and health coverage.

“For the fourth quarter ended Dec 31, 2017, the motor Insurance segment remained our largest business contributor by delivering 33 per cent of total gross premiums,” he said.

Kong said the new mobile app allows users to purchase their motor insurance, access to a round-the-clock auto assistance service and renew their road tax.

“We are confident the RHB Insurance Mobile App will be a catalyst in transforming the way customers purchase and monitor their insurance as well as road tax renewal with just a single app.

“This is in line with our digital transformation programme which focuses on delivering value-added interactions that will empower our customers,” he added. — Bernama