Etiqa’s online business registered RM56.6mil in gross contribution/premium for the first half (H1) of 2016, an increase of 20% from a year ago.
The growth was driven by the improvements to customer experience and increased awareness on the benefits of insurance and takaful, said Maybank Ageas Holding Bhd, the parent company of Etiqa Insurance Bhd and Etiqa Takaful Bhd.
Maybank Ageas chief executive officer Kamaludin Ahmad said the online business was expected to generate RM125mil in gross contribution/premium this year.
“Our online channel, www.motortakaful.com, started five years ago. We are currently serving 135,000 unique customers who appreciate the convenience of online transactions,” Kamaludin said in a statement yesterday.
Etiqa continues to increase the range of services to customers on its online platform with three new services – travel, home and life insurance.
“Digital is the way forward in engaging with customers. It represents an entirely new way of not only doing business, but also how we operate the company. We plan to optimise our digital touch points across our customers’ lifecycle,” he said.
Despite the current economic situation, Etiqa has maintained sector-leading growth and steady profits, registering a 5.7% rise in gross contribution as total general takaful/general insurance contribution rose 4% while total family takaful/life insurance contribution increased 7.7%.
Etiqa also maintained its top position in the general insurance and takaful segment with a 12.8% market share and was fourth place in the life/family (new business) segment with 8.6% market share.
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