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Makeover Care Insurance

How does one insurtech startup assist a property investment company to reach the full potential of their customer’s property?

The Makeover Guys are a group of enthusiastic people with a mission to help property players unleash their potential through smart and creative interiors.

While making sure the mission is achieved, the company wanted to provide an all-in package for their clients to cover any potential damage occurring after the makeover is complete.

This is how SENANG brought The Makeover Guys one step above any other property investment company by infusing a state-of-the-art technology platform as part of their customer experience enhancement.

Thus in 2019, The Makeover Guys have launched an innovative insurance package to their clients, powered by SENANG and underwritten by Zurich General Insurance.

Solution provider

Who is SENANG you might ask?

As one of the top insurtech players in Malaysia, SENANG is an on-demand subscription-based Insurance Platform that enables corporates, SME and Startups to get one-off coverage and insure only what they need, when they need through its tech solution.

Senang is an end to end insurance technology platform solely focused to reduce problems in the general insurance industry. It targets SME through the B2B2C Game. The API technology is the key differentiation factor to enter into the new economy.

The problem

So what can The Makeover Guys do to extend their customer’s journey post completion of the makeover and make sure their customer worry less about any potential damage due to their tenants? Insure them!

Unfortunately, it’s not that simple.

  • On top of being a property investment company, it wasn't easy for The Makeover Guys to convince an Insurance company to agree with their proposal of insuring clients post-completion. They reached out to countless insurance companies to be part of this model but unfortunately, the majority of them have a hard time understanding the objective behind it.
  • When you run a business that requires a lot of document handling, the process of compiling and processing is tedious and time consuming. To provide these consolidated documents to the insurance company for processing will require more resources and that is not scalable in the long run.
  • Finally, The Makeover Guys are looking for ways to create stickiness with their customers. Instead of stopping their customer journey once the makeover is complete, how can they create loyalty even post-makeover?

The solution

This is where SENANG comes in!

  • Zurich General Insurance Company is an official insurance partner of SENANG and by working with The Makeover Guys, the insurtech is able to bridge the gap of getting the buy-in of an insurance partner. With this tri-party partnership ongoing, the first challenge is solved.
  • SENANG don't only provide you access to an insurance policy underwriter, they also provide you with the best state-of-the-art technology to ease your documentation processes. By building and integrating into The Makeover Guys construction system, this is no longer a problem.
  • By providing this platform for The Makeover Guys, a relationship built based on protection has been created through the insurance policy. Customers will no longer need to be worried about any potential damages created by their tenants and potential reduction in their property value.

What type of claims has SENANG paid?

One of the customers has filed a claim due to property damages made by their tenants. The damages include the likes of damaged curtains, broken kitchen doors as well as scratches made on their cabinet.

The customer only requires to log in through SENANG’s portal to file their claims. Once approved in less than 2 working days, The Makeover Guys will receive their insurance payment within the next 14 working days. Afterwards, they will make their way to the property and fix what is required.

The customer only requires to log in through SENANG’s portal to file their claims. Once approved, The Makeover Guys will receive their insurance payment as soon as the next 14 days. Afterwards, they will make their way to the property and fix what is required.

Results (Qual and Quant)

But how does this really help The Makeover Guys?

By having SENANG platform as part of their business model, The Makeover Guys are able to:

  • Extend their warranty programme while at the same time build their customer loyalty
  • Provide an easy replacement and fixes for their customers considering the work will be done by The Makeover Guys.
  • Indirectly increase their passive revenue by monetizing the database collected.
  • Provide a seamless claiming process to their customer through SENANG’s platform-based system

For the past 2 years, this partnership has issued over 1000 policies And paid out in claims over RM50,000 by SENANG.

To happier and worry-less customers.