SMS REVOLUTIONIZES SELLING OF NON-LIFE INSURANCE POLICY
MANILA, OCTOBER 29, 2003 (BULLETIN) By Edu H. Lopez - Short messaging service (SMS) has continued to expand its application not only to gaming and promotional campaign but also to insurance.
This innovative service allows subscribers of Smart Communications and Talk Ní Text to buy personal accident insurance policy from Malayan Insurance, the countryís leading non-life insurance company.
Considered as the first in the Philippines and the world, Text-Insure is the latest collaboration between Smart Communications and Malayan Insurance Company.
Yvonne Yuchengco, president of Malayan Insurance said that by using SMS through Smart Communications, it is feasible to transact insurance business with thousands of Filipinos.
Any eligible person, 18 years to 65 years old could apply and buy a 24-hour personal accident insurance coverage.
This innovation, jointly developed by Smart and Malayan would make the tedious process of insurance application and payment more convenient, easier and faster.
About 99 percent of Filipinos do not have accident insurance because they have no access to it or they can not afford the premiums.
With Text-Insure, millions of Filipinos can now avail of a very affordable and accessible insurance coverage. For only R10 a day, subscribers of Smart and Talk Ní Text can now send text messages and get a 24-hour accident insurance coverage of R500,000 using their mobile phones.
Insurance Commission deputy commissioner Vida Chiong said that this innovative product would revolutionize the selling of non-life insurance policy fast, easy and affordable right at the finger tips of Filipinos.
Any subscriber of Smart and Talk Ní Text can buy insurance policy for just one day at any given time and place. There are no minimum terms, no medical check-ups, and no monthly bills to pay.
Hereís how it works. Register first by texting the following personal information. Key in INSURE REGO and send to 323.
After registering you will receive a text message with the unique passport key number for your cell phone and instructions on how to buy your insurance. The one-time registration costs R2.50.
Like any regular insurance and for the protection of the subscriber, he or she must sign an insurance policy. Text-Insure insurance policies will be published in major newspapers every Friday.
You only need to register and sign the policy once and need not submit the policy to Malayan Insurance. The subscriber must keep the insurance policy because he will need it when making an insurance claim.
Once you have registered and signed the policy, you can now purchase your R500,000 personal accident insurance.
Just text the following information: INSURE BUY which is supplied after registration and send to 323 for both Smart and Talk Ní Text Ní subscribers.
A confirmation text message would be send with the date and time of the effectivity of the insurance coverage and an insurance certificate of coverage number. The subscriber will be charged R10 per insurance purchase. Text-Insure accident insurance will be guaranteed by Malayan Insurance.
Reported by: Sol Jose Vanzi
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