MP GENERALI Insurans Bhd (formerly Multi-Purpose Insurans Bhd) has emerged the first insurer in Malaysia to introduce a free car pick-up and drop-off (PnD) service to its motor insurance policy customers as a means to enhance their car servicing experience.
Aimed at delivering a fast, safe and innovative vehicle assistance service, the PnD service is open to existing motor insurance policyholders in Malaysia with an insured sum of RM50,000 and above. The service is a joint initiative with Europ Assistance, a unit of the Generali Group.
MPI Generali’s PnD service can be accessed through its customer portal where an ambassador from Europ Assistance can be requested to pick up a policyholder’s car at their chosen location, then taken to the scheduled service point and finally returned whether to a new or same location.
Other than that, the PnD facility covers the logistics handling of the car for a range of services from regular car servicing, a car wash or polish and minor accident fixing, for an unlimited number of times per year. It is currently available in Kuala Lumpur and Selangor (Mondays to Saturdays from 8am-6pm) for active MPI Generali Private Car Comprehensive policyholders.
According to a 2022 Global Data Research report, Malaysia’s general insurance industry is projected to reach US$5.5 bil in 2026, growing at a compound annual growth rate (CAGR) of 4.6%. Of this, the industry’s growth was boosted by strong performance in motor insurance.
Motor insurance accounted for 46.5% of premiums in 2021 and is expected to grow at a CAGR of 3% from 2021 to 2026.
“We’ve learnt post pandemic, it is imperative to both innovate and stay ahead of the curve, especially in the area of insurance,” MPI Generali CEO KG Krishnamoorthy Rao pointed out.
“While we are confident of growth trajectory in 2022, we intend to distinguish ourselves by being the first in Malaysia, to offer the (PnD) service to our policyholders for free.”
With COVID-19 having changed the work landscape, Krishnamoorthy said the future of work is one of hybrid and this is where safety, convenience and technology have a role in re-shaping the way auto servicing is being looked at.
“Customers only need to access an app or a portal to have their cars safely picked up, serviced and brought back at no charge,” he envisages. “Being the first in the industry to introduce such service is a strategic move for us. We foresee that this will have a positive impact on our revenue targets as we aim to grow by 20% within a year.”
The popularity of such a service is expected to increase as clients prefer a hassle-free, time-saving and low-contact experience concerning services needed for their personal vehicles.
Globally, Europ Assistance, which is a partner to automotive technology solutions provider 21North, has a fleet of over 9,000 providers who have completed 4.5 million trips with a transaction value worth RM264 mil annually in India, Indonesia, Singapore and Malaysia.
In November 2021, Europ Assistance launched the 21North Europ Assistance platform in Malaysia with stand-alone PnD services for vehicle owners, automotive dealers and workshops with a digitally powered PnD facility. The uptake has been positive, indicating a growing demand. – July 20, 2022
