Singapore based Etiqa Insurance has launched a 30-minute fast Own Damage (OD) claims approval for its motor policyholders, a first-ever feature in the motor insurance sector in Singapore.
Motor claims approval generally takes approximately 1 to 2 days to process. Etiqa, with its 22 quality authorised workshops, has streamlined the motor claims submission process and greatly reduced their approval time.
Upon receiving the necessary claims and estimated damage documents, repair claims of up to S$5,000 can be approved in just 30 minutes.Motor vehicle owners can expect to get their vehicles back on the road much sooner, minimising inconvenience.
"The motor insurance industry is a very competitive market, and we would like to offer our customers great value beyond a competitive price. By speeding up the approval process, we reduce stress and provide better peace of mind to motor vehicle owners," said Sue Chi Kong, Chief Executive Officer of Etiqa Insurance Singapore.
Following their successful launch of the first-ever automated Straight Through Processing (STP) of travel claims with instant payout via PayNow, the progressive insurer is once again revamping the motor insurance scene with their fast 30-minute claims approval.
The innovative insurer and its partners recognise the importance of speed in an increasingly time-deprived society. Sue added, "Our authorised workshops are cooperative in this initiative and are looking forward to provide a seamless claims experience to our customers."
Etiqa Insurance Pte. Ltd. is a licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore (MAS).