NexAssure Group Pte Ltd, Singapore announces the launch of two new group companies, which enable NexAssure to offer full service solutions for its clients.
NexAssure Agency Ltd, a managing general agency based in Hong Kong providing expert reinsurance capacity in Asia and MENA regions and NexAssure Management Sdn Bhd, a third party administrator based in Malaysia, providing pan-Asian policy and claims administration solutions.
Tony Hobrow, CEO of NexAssure Group commented, “the scope of NexAssure needed to expand to build on the four years of awareness, contracts and brand-building our management team have concentrated on. We have seen exciting growth and increased demand for our specialty product lines across the regions. With clients seeking local expertise to develop local solutions for risks based in the region, we have the ability to locally develop and underwrite insurance products, provide reinsurance capacity and administration solutions, which puts us at the forefront of introducing innovative solutions to our end customers”.
NexAssure is the first in Asia to setup a managing general agency together with a pan-Asian third party administrator for extended warranty to cover automobiles, motorcycles, electronic goods, appliances, gadgets, smart phones and tablets. China, Taiwan and Southeast Asia will account for approximately 25 million new automobile sales this year. With extended warranty at an early stage of development, there is excellent scope to educate, develop products and provide single source solutions to secure market share.
Additional product areas include niche healthcare solutions, financial protection for loan and lease products and specialty solutions such as mortgage indemnity insurance, GAP insurance and unique insured marketing programmes such as 30-day money back guarantee on the purchase of new vehicles.
NexAssure Agency will provide facultative and treaty reinsurance support with the security of a S&P AA- Rated Top 5 Global Reinsurer. The senior underwriting team will provide product rating, policy wordings and risk management.
NexAssure Management will provide multi lingual third party policy and claims administration using a web based platform with expert claim adjudicators. The system will provide a wide range of bespoke administration services using web based white labelled systems and smart phone applications to offer clients efficiency and market leading solutions.