Tune Protect Group clinches two wins at Insurance Asia Awards 2023

It has implemented a seamless and instant claims journey and significantly increased customer satisfaction.

Insurance firm Tune Protect Group was honoured at the Insurance Asia Awards 2023 for constantly seeking innovative solutions to enhance customer experience and streamline claims processing.

One of its wins in the prestigious awards programme is the Claims Initiative of the Year - Malaysia for the introduction of a parametric claim payout solution, an innovation in the ever-evolving landscape of travel insurance.

The parametric claim payout solution is an immediate compensation mechanism triggered by specific events or conditions. This technology offers a lightning-speed resolution for passengers who experience travel delays, allowing them to receive automatic compensation instead of going through lengthy claims procedures.

The automatic compensation is brought forth by the easy configuration of delay parameters and real-time compensation thresholds within the Application Programming Interface (API) of the firm. 

Moreover, the innovation significantly reduces the administrative burden associated with traditional claim processes. Airlines and travel insurance providers can allocate resources more efficiently, enabling them to focus on enhancing other aspects of the customer experience.

“The introduction of this parametric claim payout system represents a pivotal step forward in the realm of travel insurance. By leveraging innovative technologies, we are able to create and implement a seamless and instant claim journey for passengers affected by delays,” the company said.

It has implemented the parametric claims payout process successfully in Malaysia with its airline partner AirAsia and e-wallet partner BigPay; and in Vietnam with its airline partner Bamboo Airways and e-wallet partner Momo.

Meanwhile, the firm also won the Marketing Initiative of the Year - Malaysia for the launch of its health technology solution PUMP, in partnership with healthtech company Aktivo Labs.  Aktivo's UI/UX focuses on simplicity and speed, and this is aligned with Tune Protect’s aspiration of being a mobile-first, digital insurer

PUMP promotes healthy living through guided meditation, digital journaling, fitness tracking, nutrition guidance, and more through the Tune Protect mobile app in both Malaysia and Thailand.

PUMP's main target audience is digitally savvy millennials and gen-z who are interested in improving their health and wellness but are often prevented by time constraints. Moreover, they are also less likely to be sufficiently insured, putting them at risk of financial distress. To solve these pain points, Tune Protect worked closely with leading neuroscientists from Aktivo Labs to design solutions that democratises access to healthy living.

“With PUMP, Tune Protect is demonstrating its commitment to supporting and embracing healthy lifestyle amongst everyday Malaysians, building a brand that everyone loves in the process,” the company said.

Insurance Asia Awards recognise insurance companies who made significant impact to its customers with exceptional products, services, and solutions. 

The Insurance Asia Awards is presented by Insurance Asia Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's significant impact on its customers with exceptional products, services, and solutions in the insurance industry, please contact Julie Anne Nuñez at [email protected].