In The News

This article appeared in the South China Morning Post print edition as: Local insurance gets an upgrade with Liberty's world-class services.

As regional economic integration becomes an imminent reality through the creation of the Asean Economic Community (AEC) this year, opportunities abound for businesses looking to expand their global operations and forge cross-cultural partnerships across the Asia-Pacific's growing markets. Liberty Insurance in Malaysia combines the high-calibre global expertise of multinational insurer Liberty Mutual Insurance Group and the 38-year tenure of Uni.Asia General Insurance serving Malaysia's local retail and auto industries. With economic prosperity fuelling the urbanisation and increasing affluence of Malaysia's growing population, the rebranded insurance company is in a strategic position to extend its portfolio as one of the leading providers of premier insurance services across the nation. "We pride ourselves on being a one-stop shop for Malaysia's auto insurance needs," says CEO David Tan. "Our creed is to help people live safer and more secure lives by making auto insurance easily accessible to every man on the street through our well-entrenched, diversified and strategic distribution network." Liberty Insurance offers a variety of comprehensive risk protection services ranging from medical health insurance and personal accident plans to business protection packages covering extensive risks such as fire, burglary, plate-glass breakage and employer liability. Most significantly, the company specialises in complete motor insurance plans for motorcycles, large commercial vehicles and private cars - a segment through which it derives 80 per cent of its business. Through its strategic local distribution network comprising five regional offices, 25 branches, 123 franchise holders and franchise dealers, and more than 1,800 agents, the company's widespread presence ensures easy insurance accessibility. Clients can rely on the high emphasis that Liberty Insurance puts on good customer service and stakeholder relationships. As an example of its expansive reach, Liberty Insurance encompasses a partnership with approximately 700 Malaysian post offices - ensuring that even Malaysians in rural towns can have direct access to insurance services. "Helping people protect themselves and their possessions and being able to offer insurance at a fair price to the masses - I think that's a lot to be proud of," Tan says. "We are a business and thus want to reward shareholders with a good bottom line. But as a socially responsible company, we also want our business strategy to contribute something back to every person on the streets, and we do this by making our insurance plans as readily available as possible." Liberty Insurance also maintains mutually beneficial relationships with business partners such as DRB-HICOM, owner of carmaker Proton in Malaysia; and United Overseas Bank. The company is also an insurance partner of Malaysian electronic government services provider MyEG Services and a bancassurance partner of Bank Simpanan Nasional. In anticipation of the AEC, Liberty Insurance Malaysia has the advantage of adapting the best practices of other Liberty operations in Asia such as Thailand, Hong Kong, Singapore, Vietnam and China. As part of the Liberty Mutual Group - a diversified insurer headquartered in Boston with operations in 30 countries around the world - the company is prepared to abide by the AEC's catchphrase of "thinking globally, prospering regionally". "We see ourselves as a leading Malaysian auto insurance company," Tan says. "We are now part of a global brand, and with a name like Liberty on our side, that glass ceiling as a local entity has been shattered. We see positive growth within the AEC such as synergies and cross-referrals of businesses, and welcome future opportunities." Read the original article here