AIG announcing its plans for the 2019 and the new mobile app that will utilize telematics in their overall efforts to make the Malaysian roads safer.
AIG Malaysia today marked its countdown toward its global centennial year and celebrated its 66 years of safeguarding Malaysia while also identifying four key risk areas in 2019, namely, road safety, cyber security, protection for SMEs and travellers.
Mobile app to inculcate better driving habits
Tackling road safety should be the main concern of any responsible insurer. In 2017, the Ministry of Transport reported 533,875 road accident cases nationwide and over 6,700 fatalities. AIG recognized the need to join the efforts in making the Malaysian roads a safer place and announced its new app for the 2019 which utilizes telematics to engage with Malaysians and inculcate safer driving habits.
The app will be able to track drivers behaviour and measure their driving performance. Using telematics, app will score drivers performance against certain key driving parameters such as acceleration, speed, breaking and cornering.
Anthony Lee, CEO of AIG Malaysia said: “Our target is to have 10,000 users within the first year to sign up for the mobile app”.
AIG has already launch the telematics mobile app already in Singapore, where it offers prizes and badges to drivers. Different from AXA’s FlexiDrive Telematics insurance, the customer does not need to install a device in the car. AIG uses the mobile phone to track the driving behavior of the customer. This has advantages and disadvantages.
Learn more about Telematics on our Article “Malaysian Telematics explained“.
- No installation of a device in the car. Only requires a smart phone.
- Offers prizes and badges that drivers can earn when using the app
- Driver needs to have the smart phone with him when driving
- Does not have automatic alert or emergency assistance during an accident
- Does not have stolen vehicle tracking
Screenshot of AIG Mobile Telematics App
Demand for cyber-protection to rise
One of the risk areas identified by AIG is in cyber security and AIG anticipate that local demand for cyber-protection against data breaches, identity theft and malware will rise. With Internet of Things becoming a reality, demand for cyber-security has exploded in recent years.
Anthony Lee also noted that AIG has earmarked protection for small and medium enterprises (85% of SMEs are underinsured) and travellers (globalised travel and unpredictable weather also exposes travellers to new risks such as natural disasters and diseases) as the main focus for 2019.