About MSIG
MSIG Hong Kong is a subsidiary of Mitsui Sumitomo Insurance Company, Limited within the MS&AD Insurance Group, Asia’s leading general insurance brand with presence in 46 countries and regions globally. The Group is amongst the world’s top 10 non-life insurance groups based on gross revenue*. It is the number one Japanese insurer with A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, Mainland China, Korea, India, and Taiwan.
MSIG Hong Kong offers a wide range of solutions and services through an extensive distribution network including agents, brokers, and bancassurance alliances with leading banks. It has been providing general insurance solutions to customers in Hong Kong for more than 160 years, dating as far back as 1855.
*2021 Fortune Global 500, Property & Casualty Insurance Category
The challenge
MSIG faced high operating costs running their individual and group health insurance business due to the use of legacy systems, causing slow speed to market, manual processes for client onboarding and claims handling, and a lack of synchronization between systems where data did not flow efficiently. Margins are low in this business, therefore a change of system, implemented quickly was key to remain competitive.
The solution
MSIG implemented CoverGo’s end-to-end no-code health insurance platform to fully replace its legacy core system and drive digital transformation across the value chain. With ready-to-use portals and API-first architecture, CoverGo enabled MSIG to rapidly digitize and automate key functions — from product creation and policy administration to claims and customer servicing.
The unified platform provided all stakeholders, including members, providers, agents, and HR teams, with seamless, self-service experiences while ensuring robust backend integration with existing systems like accounting and payment gateways.
- No-code product builder: Underwriting & pricing engine, data model & policy documents builder to create and launch products fast and have immediately available through APIs for omnichannel distribution
- Sales portals: Quotation and proposal management tools.
- Customer portals: Member and HR portals to view & manage policies, submit claims, find doctors, do member movement, etc.
- Policy administration: Fully configurable, flexible & user-friendly policy administration system for any stakeholder to view and service policies, endorsements, renewals, transactions, and more.
- Claims management: Data-driven and automated claims engine, management system, and investigation tools.
- Provider portals: For providers to view members, policy coverages, and submit claims digitally.
- Integrations: External payment gateway, MSIG accounting system
Business Impact
The adoption of CoverGo’s platform delivered transformative business outcomes for MSIG. Accelerated product launch timelines, streamlined operations, and reduced IT complexity translated into tangible cost savings and revenue growth.
With automation replacing manual workflows, staff productivity and responsiveness significantly improved, while customers benefitted from faster service, personalized offerings, and an enhanced digital experience — positioning MSIG as a forward-thinking insurer in an increasingly competitive market.
For business
- Increased speed to market from 6-9 months to 1-2 weeks
- Major IT cost reduction (maintenance, development)
- Reduction in fraud & abuse, better data analysis and logic
- Reduction in customer acquisition costs and increased sales volumes through up/cross sales enablement
- Data for improved business oversight for strategy definition
For staff
- Digital and user-friendly portals for all stakeholders, reducing human efforts, training needs, and staff turnover.
- Reduction of manual and time-consuming processes from sales to claims processing
- Faster response time to customer’s enquiries
For customers
- Improved customer experience overall
- Customers now have access to tailor-made products
- Faster quotation, issuance & claims processing
Testimonial
Philip Kent, Chief Executive Officer of MSIG Hong Kong: We are excited to partner with CoverGo to build and launch MediGo. This latest step in MSIG’s digital transformation puts our customers foremost and improves the experience of our medical system at every touch-point. Through this collaboration, starting with Group Medical, our health insurance customers will be able to use their online portals to do everything from finding a doctor and submitting claims; through to checking the status of their benefits, all in one place. We are confident that this will transform the customer journey and lead to ever-higher levels of satisfaction.
