HomeBlog Etiqa’s Online Business Hits 20% Growth In 1HFY16

Etiqa’s Online Business Hits 20% Growth In 1HFY16


Kuala Lumpur – Etiqa’s online business registered RM56.6 million in gross contribution/premium for the first half of 2016, an increase of 20% compared to the corresponding period last year. The growth is driven by the improvements to the customer experience and increased awareness of the benefits of insurance and takaful.

  Kamaludin Ahmad, CEO of Maybank Ageas Holding Berhad, the parent company of Etiqa Insurance Berhad and Etiqa Takaful Berhad, indicated that the online business is expected to generate RM125 million in gross contribution/premium this year. “Our online channel, www.motortakaful.com, started five years ago. We are currently serving 135,000 unique customers, who appreciate the convenience of online transactions”.

Etiqa continued to increase the range of services to customers on its online platform with three other new products, now available on www.etiqa.com.my . Customers are now able to transact online to fulfil their motor, travel, home, and life insurance needs. The motor takaful and passengers’ personal accident takaful coverage is available on motortakaful.com.

With the growth in mobile networks and the drop in data costs, consumers are spending more time with their smart phones on social media and other online channels. “Digital is the way forward in engaging with customers. It represents an entirely new way of not only doing business, but also how we operate the company. We plan to optimise our digital touch points across our customers’ lifecycle. This allows us to fully emphasise the various needs that customers go through by putting ourselves in the customer’s shoes, entering the flow of a typical purchase cycle, and experiencing the brand from the user perspective,” says Kamaludin.

Despite the current economic situation, Etiqa has maintained sector-leading growth and steady profits. Etiqa registered a 5.7% rise in gross contribution/premium as Total General Takaful/General Insurance contribution/premium rose 4.0% while Total Family Takaful/Life Insurance contribution/premium increased 7.7%. Profit before tax rose 53% Y-o-Y to RM305 million, from RM198 million a year earlier.

Etiqa maintained its top position in the General Insurance & Takaful segment with a 12.8% market share and was fourth placed in the Life/Family (New Business) segment with 8.6% market share.
About Etiqa

Etiqa made its debut on 15 November 2007 and is the single master brand for all insurance and takaful businesses under Maybank. The brand essence of Etiqa is humanising insurance and takaful, where we want to make things simpler for our customers. This is further supported by four brand attributes namely performance with conscience, crystal clear, hand in-hand and rock solid.

Today Etiqa is a true multi-channel distributor of Insurance and Takaful products via its 10,000 agency force, 24 insurance and takaful branches, more than 360 Maybank branches, ATMs and other third-party banks, providing full accessibility and total convenience to customers, unmatched by any other.

Media contacts:

Ashley Khoo, Communications
T: 603 2785 5142
M: 017 606 1026
E: ashley.khoo@etiqa.com.my

Azita Azlan, Communications
T: 603 2785 5132
M: 012 289 0776
E: azita.a@etiqa.com.my

Tags : Etiqa