By BERNAMA
Zurich Insurance Malaysia Bhd, which launched two new insurance scheme today, is optimistic the products would earn the company a premium income of RM10 million in five years, said President for General Insurance Sia Chon Ming.
He said the company has set a premium target of RM2 million for its Z-Corporate Travel Insurance and RM1 million for Z-Travel (Domestic/Inbound)Insurance products.
“We estimate to double and triple the premium amount in the next five years,” he told a press conference after launching the products here today.
Z-Corporate Travel and Z-Travel (Domestic/Inbound) are the second and third insurance travel insurance products to be launched by the company. The first was launched in 2011.
Z-Corporate Travel is a comprehensive incurance policy created for corporate companies to provide travel insurance for their employees while Z-Travel(Domestic/Inbound) offers coverage for Malaysians or tourists who plans to travel with a protection period of up to 60 days per trip.
“The significant rise in the frequency of travel, as well as, the increasing number of leisure and business travellers are the reasons why we are providing travel insurance protection for our customers,” he said.
Sia said there will be a number of branding exercise to promote these products as the company was involved in the Matta Fair.
“We are the panel member for the Malaysian Association of Tour & Travel Agents (Matta) Fair, therefore we are optimistic these products would reach a higher volume and would benefit both business and leisure travellers,” he said.
Zurich Insurance currently enjoyed an overall market share of four percent and ranked eight in the composite insurance market in 2011.
“We are still small in the travel segment, however, we will continue to come up with more travel insurance products to become the market leader in travel insurance,” he said.
– BERNAMA
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