Liberty Insurance Uses Technology To Settle Policy Claims Faster For Flood Victims

Liberty Insurance Malaysia has disbursed RM270,887 in settlement claims to policyholders in flood affected areas thanks to its proprietary state-of-the-art Video Appraisal technology. This timely development comes as part of the company’s digital adoption initiatives, and as a result, home and car policyholders who have protection plans with a flood cover will now be able to have their claims processed within just two to three working days, from up to seven days previously.

According to Mr Puneet Pasricha, Liberty Insurance Chief Executive Officer, the company is cognizant of the dire situations facing the Rakyat, particularly in flood-ridden states such as Johor, Kelantan, Terengganu, Pahang, Selangor, Perak and Sarawak.

“Recognising the added pressure and stress on claimants in these trying times, we are committed to ease their load where possible. While the technology and digital adoption paved the way to make this possible, our real drive to pioneer this effort is because we want to put people first.”

Mr Puneet Pasricha explained that the Video Appraisal technology allows Liberty Insurance’s examiners to virtually conduct surveys from their homes or office. Upon notification by the claimants, the claim will be registered within Liberty Insurance’s digital platform, using the claimant’s mobile number. Then, examiners will contact the given numbers to provide a linkage video with the claimants.  Examiners can then take photographs of the damages with guidance of the claimants using his or her phone at site. Once completed, the examiners will assess the damages from the photos taken and evaluate the claim amount and subsequently proceed with the offer to the claimant.

The company has activated its Claim Flood protocols involving branch personnel and external adjusters to provide claims services and surveys at affected areas including Pahang, Johor, Terengganu and Sarawak. 

For larger losses, Liberty Insurance is prepared to assist by compensating interim payments to alleviate the unfortunate situation and help our policyholders to recoup their losses faster.

To further simplify the process, the affected policyholders are not required to submit any documentation. Upon notification, Liberty Insurance personnel will assess the damages and present a settlement offer. If the amount is acceptable, a discharge voucher will be signed and the Company will proceed with payment processing.

The company has also established a dedicated toll-free customer care line for reporting of flood claims as well as any enquiries relating to submission, processing and status of their claim.

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