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RHB Insurance eyes RM5 mln in premiums in 12 months
Last update: 05/06/2018

Kong Shu Yin

KUALA LUMPUR, June 5 (Bernama) -- RHB Insurance Bhd, a†general insurance provider for retail and corporate customers, is targeting†premiums of RM5 million†from 10,000 policy holders†over†the next 12 months by leveraging on the launch of its RHB Insurance Mobile App.

Managing Director†Kong Shu Yin†said the group has†targeted†10 per cent of its total gross written premium to originate from the digital channel within†three to five years.

"RHB also aims†to be among the top five insurance providers in the market by 2022,"†he told reporters at the app launch today.

Kong said RHB Insurance is†currently†ranked the country's 10th largest insurer†with a 4.3 per cent market share of†gross direct premiums.

"We are among†the†top 10 insurers for fire and top five†insurers†for medical and health coverage.†

"For the fourth quarter ended Dec 31, 2017, the motor Insurance segment remained our†largest business contributor by delivering†33 per cent of total gross premiums,"†he said

Kong said the new mobile app†allows†users to purchase their motor insurance, access to a round-the-clock auto assistance service and renew their road tax.

"We are confident the RHB Insurance Mobile App will be a catalyst in transforming the way customers purchase and monitor their insurance as well as road tax renewal with just a single app.

"This is in line with our digital transformation programme which focuses†on delivering value-added interactions that will†empower our customers," he added.



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