MSIG x Sustainability
To insure what matters to you, we protect what matters to the planet.
Insurance makes the world more resilient. At MSIG, we are committed to contributing to the development of a vibrant society and helping to secure a sound future for the planet and for generations to come. To achieve that, we aim to create tangible value for our business and the communities in which we operate.
To set the pace, our parent company, MS&AD has drawn up an ambitious medium-term management plan that details the Group’s sustainability efforts. Through a shared value creation business model, we seek to protect society against its most existential threats and create a lasting positive impact to the communities we serve. Our knowledge and expertise in effective risk management has enabled us to work with customers and stakeholders to raise awareness of environment, social and governance issues, mitigate risks and co-develop solutions for a more sustainable and inclusive society.
As a provider of risk solutions, we are committed to making a positive impact on society by aligning our insurance products to support a sustainable future. This includes the protection of green infrastructure, the development of pre-emptive and preventive measures to improve disaster response and mitigation, and a sustainable claims process. We also seek to improve financial inclusion among societies with low insurance penetration by offering tailored solutions to these population segments.
Here's how we are making an impact through our business :
Solar PV All Risks Insurance
(MSIG Malaysia)
MSIG Malaysia provides solar PV insurance for both personal customers through their Solar PV for Home product, and business customers through their Solar PV All Risks product. It also provides compensation for income or savings affected by downtime caused by such loss or damage, if the system is under an appropriate programme.
Electric Vehicle Insurance
(MSIG Singapore)
As electric vehicle (EV) ownership continues to gain traction in Singapore, MSIG Singapore has enhanced its personal motor insurance plan with more benefits to cover green cars on the roads. Coverage includes transport allowance when an EV is under repair after an accident, and new for old replacement if a new EV less than 12 months old becomes damaged.
Crop Insurance
(MSI Thailand Branch for clarity)
Facilitated by the Thai General Insurance Association, this product helps support the government’s agriculture policy. Coverage includes floods, drought, windstorm, typhoon, hail, fire as well as pest and plant pathology.
This product has been well-received by the agricultural community that has had to deal with an increasing number of natural disasters . With this solution, there is greater assurance in the face of risk undertaken during each planting season.
Flood Risk Analysis of Land Slope Areas (MSI Thailand Branch)
Tapping into resources and programmes such as Google Maps and Google Earth, we created a unique technical risk analysis tool that efficiently surveys flood risks in areas, including those with elevations below sea level.
This has helped the underwriting and marketing departments to make more accurate assessments for our clients. The tool has also enabled us to give invaluable loss prevention advice.
Parametric-based Drought Insurance (MSIG Vietnam and MSI Oceania Branch)
Powered by Hillridge's acclaimed platform, farmers can be insured against the volatility of the southeast Asian climate. An agreed payout is determined before the commencement of the insurance, and when the policy's conditions are met, payouts are made accordingly - simplifying procedures for both the insured and the insurer.
Home Credit x MSIG strategic partnership (MSIG Asia)
A partnership with Home Credit, a global consumer finance provider, to make insurance solutions accessible to low and middle income retail customers in developing Southeast Asian markets. Starting with MSIG’s home content protection insurance plans, the aim is to broaden our offering to include other forms of coverage to support financial inclusion.
Microinsurance access through Touch 'n Go (MSIG Malaysia)
MSIG Malaysia has collaborated with Touch 'n Go to offer insurance via Goprotect products on the Touch 'n Go e-wallet app. This allows the bottom 40% income earners to access various microinsurance products for themselves, their health, travel, homes, and vehicles through Touch 'n Go.
Fire Insurance for Underserved Communities (MSIG Malaysia)
A bespoke fire insurance product targeted at social enterprises to build safer homes for the marginalised communities.
This initiative was kicked off in partnership with Epic Homes where a unique plan was created for previously uninsured homes in the Orang Asli community, giving the residents peace of mind that insurance gives to regular home owners.
TravelEasy Pre-Ex
(MSIG Singapore)
Offers equal opportunities for travellers with stable and controlled pre-existing illnesses to enjoy travel insurance coverage.
Pay-as-you drive Motor Insurance
(MSIG Thailand)
“Prakan Kubdee” is the first pay-as-you-drive vehicle insurance in Thailand which calculates premiums from real driving behaviour. The product which leverages IoT and telecoms technology was launched in partnership with AIS Insurance Service. It aims to enhance driver safety by providing insights into how drivers and vehicles perform on the road.
Microinsurance for the underserved (BPI MS)
BPI MS supports the government’s drive on financial inclusion by helping the underserved and lower-income customer segments gain access to affordable insurance products. This includes various affordable personal accident and casualty insurance products for as low as Php 365.00 per year.
Change doesn’t happen overnight but we are heartened to see our Group's efforts getting recognised. As we continue to navigate this path, accreditation like these propel us to push for greater positive impact.
We participate in these global initiatives and are working to create shared value with society.
