SINGAPORE--May 28, 2012--(BUSINESS WIRE)--ACE Insurance, part of the ACE Group of insurance and reinsurance companies, today announced the successful launch of a new insurance product in Malaysia combining innovative benefits that will provide relevant and affordable protection for consumers.
Malaysia is the launch pad for an Asia Pacific market-first: an air-time guard benefit that is being offered to mobile phone subscribers. A subscriber opting for this benefit will be protected in the event that the air-time on their mobile phone is fraudulently used or abused. This new protection feature is incorporated into an existing insurance product that provides personal protection for policy holders in the event of injury, disability and theft of personal items such as wallets, briefcases and handbags.
The air-time guard benefit is simple yet timely considering the widespread use of mobile phones. With the pervasive digital lifestyle, the aim of this product is to give policy holders peace of mind knowing that in the unfortunate event of a theft, they are protected against injury and so is their mobile phone’s air-time against fraud or abuse.
According to Juan Luis Ortega, Regional Head of Accident & Health, ACE Asia Pacific, “This air-time guard product is unlike the standard household or personal protection product because it effectively combines the best of personal protection with coverage for valuable possessions. Our focus is to develop relevant and targeted products as we respond to market trends and to provide much needed cost-effective protection. More of such product innovation is in the pipeline which our business partners may find attractive as a value-added offering to sustain loyalty and retention among their customers.”
The ACE Insurance franchise in Asia Pacific comprises an extensive network of operations serving Australia, Hong Kong, Indonesia, Korea, Macau, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand and Vietnam. The franchise offers a diverse range of products, including its core Property & Casualty and Accident & Health lines, as well as its growing Small to Medium Enterprise and Personal Lines businesses. ACE Insurance is part of the ACE Group, one of the world’s largest multiline property and casualty insurers. Headed by ACE Limited (NYSE: ACE), a component of the S&P 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries in more than 53 countries.
Visit www.acegroup.com for more details.
ACE Insurance, ACE Group of Companies and ACE Limited are registered trademarks of ACE Limited.
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