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. By creating tangible value for our business and the communities in which we operate, we lay solid foundations for continued growth and ensure that we play our part as a responsible insurer and investor.
Our parent company, MS&AD, defines the priorities guiding 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 have enabled us to work with customers and stakeholders to raise awareness of environmental, social and governance issues, mitigate risks and co-develop solutions for a more sustainable and inclusive society.
Creating products, services and initiatives that champion change
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:
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.
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 access through TouchnGo (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.
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.
Renewable Energy Insurance via Risk Point
MSIG Asia and RiskPoint Group have announced a strategic partnership to advance renewable energy insurance in Asia Pacific. Together, MSIG and RiskPoint will deliver tailored insurance solutions for constructions and operation of solar, wind, and hydroelectric assets to project owners and their appointed brokers.
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.
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.
Crop Insurance
(MSI Thai Branch)
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.
Built Back Better Green Clause
To support businesses in their sustainability efforts, MSIG now offers the Built Back Better Green Clause. Under this initiative, MSIG provides additional coverage to your existing fire insurance for accidents that require building restoration and/or building modification according to the Green Building Index (GBI) guidelines.
Regional Private Medical Insurance (MSIG Asia)
Our partnership with Serenity’s Regional Private Medical Insurance (RPMI) bridges the gap between local and international health insurance by offering tailored domestic plans with cost-effective benefits and premium service capabilities, leveraging advanced insure-tech to improve accessibility, efficiency, and responsiveness for members and partners.
TravelEasy Pre-Ex
(MSIG Singapore)
Offers equal opportunities for travellers with stable and controlled pre-existing illnesses to enjoy travel insurance coverage.
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.
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.
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.
