Berjaya Sompo partners iMotorbike to offer digital insurance solution

• Consumers can renew their motorcycle insurance in less than two minutes
• Consumers are entitled to a 10% rebate when they renew their insurance online

BERJAYA Sompo Insurance Bhd on July 2 announced its partnership with iMotorbike, a Southeast Asian motorbike online classified-ads website, to provide users with a fast, secure and simple way to renew motorcycle insurance online.

This initiative leverages on both Berjaya Sompo and iMotorbike’s digital capabilities to offer more than 1.2 million potential customers an end-to-end digital insurance solution.

According to iMotorbike’s data, 85% of its users are daily riders or motorcycle commuters while the balance are leisure riders.

Berjaya Sompo chief executive officer Tan Sek Kee, said that this partnership will further expand Berjaya Sompo’s reach in the motorcycle industry.

“In 2018, Berjaya Sompo issued close to 78,000 policies and the domestic market for motorcycles grew 8.5% from the previous year with a total of 471,782 units sold . This shows that there is a huge opportunity for us to grow in the motorcycle insurance segment.

“We also noticed that more customers are going online to purchase and renew their motor insurance. Which is why we continue to look for strategic partners to expand our digital distribution channels to ensure that consumers have access to the information and renew their insurance online.”

Berjaya Sompo deputy chief executive officer Futoshi Hanahara who represented Tan at Berjaya Sompo’s office said “We are pleased to partner with iMotorbike who has a strong digital presence in the motorcycle industry. Most importantly, iMotorbike shares the same purpose with us, which is to provide a fast, secure and simple online experience for consumers.

“The idea of having a right digital partner is to have a seamless journey for a customer from online to offline (O2O). We believe that this synergy with iMotorbike will help us to achieve our aim to be in the top five general insurers in Malaysia.”

Through iMotorbike’s website, consumers can renew their motorcycle insurance in less than two minutes and as well as receive an instant quotation for motorcycle up to 1,000cc. Consumers are also entitled to a 10% rebate when they renew their insurance online.

“We are excited to partner with Berjaya Sompo to offer insurance coverage to our motorcycle customers. As a one-stop solutions provider for avid motorcyclists, we aim to provide our customers with the best products and services such as financing and insurance.

“We believe that this partnership will further offer our customers the best experience through a complete and efficient online ecosystem for motorcycle users, lovers and professionals,” said iMotorbike.com chief executive officer Gil Carmo.

Under Berjaya Sompo’s comprehensive motorcycle insurance plan, the cover offers protection against financial loss due to fire, explosion, lightning, burglary, housebreaking or theft and accidental damage to the Insured's vehicle in addition to the protection against the legal liabilities to third party for death and bodily injury and damage to property that may arise through the negligence of the rider.

Consumers may also opt for new additional benefits such as legal liability to the pillion, the inclusion of special perils and motorcyclist personal accident add-on by paying an additional premium.