ACE Jerneh Re­Brand­ing

In­sights into the

Insurance - - BRANDING - by Steve Crouch

ACE Jerneh In­surance Ber­had (ACE Jerneh) is the re­sult of the ACE Group’s pur­chase of Jerneh In­surance Ber­had in 2010 and the sub­se­quent in­te­gra­tion of the com­pany with ACE Syn­ergy In­surance Ber­had, the ex­ist­ing ACE en­tity in Malaysia. The in­te­gra­tion of both com­pa­nies be­gan in 2011 and ACE Jerneh was born in Jan­uary 2012.

Be­fore the merger, ACE and Jerneh were both es­tab­lished brands in the in­surance mar­ket. The in­te­gra­tion of both com­pa­nies cre­ated a stronger brand and an en­larged en­tity that now of­fers a di­ver­si­fied range of prod­ucts and ser­vices to Malaysians in the cor­po­rate, com­mer­cial and per­sonal sec­tors. The chal­lenge was to com­mu­ni­cate the strength of the en­larged en­tity and its en­hanced ca­pa­bil­i­ties to our cus­tomers, agents, bro­kers, busi­ness part­ners and the pub­lic at large, in an easy to un­der­stand and straight-for­ward man­ner.

“Coming To­gether to Give You Bet­ter Cov­er­age” was fi­nally de­cided as the core mes­sage in our re­brand­ing ex­er­cise af­ter much de­lib­er­a­tion. The mes­sage was ap­plied across all above-the-line and be­low-the-line re­brand­ing ad­ver­tise­ments.

One other ma­jor chal­lenge was the re­brand­ing of 177 mar­ket­ing col­lat­er­als and cor­po­rate sta­tioner­ies as well as a to­tal of close to 100 com­pany sig­nages na­tion­wide in a short pe­riod of six months. A very ca­pa­ble in­te­gra­tion team com­pris­ing of em­ploy­ees from ACE and Jerneh was tasked with this project and to en­sure com­ple­tion of the ex­er­cise by 4 Jan­uary 2012 when ACE Jerneh was launched.

The Jerneh ac­qui­si­tion pro­vided ACE with an en­hanced ge­o­graphic pres­ence of 22 branches and an agency force of more than 1,800. The ACE and Jerneh union is a unique match as both com­pa­nies truly com­ple­ment each other in terms of their re­spec­tive distri­bu­tion chan­nels, prod­ucts and ser­vice of­fer­ings as well as tal­ent.

ACE Syn­ergy In­surance has been a mar­ket leader in the seg­ments of Prop­erty, Ca­su­alty, Fi­nan­cial Lines and Ac­ci­dent & Health in­surance. Jerneh’s op­er­a­tions and its agency distri­bu­tion are highly com­ple­men­tary to the ex­ist­ing lo­cal busi­ness and in­te­grat­ing both com­pa­nies gives ACE a strong foun­da­tion for fu­ture growth as well as a di­ver­si­fied busi­ness. Through the in­te­gra­tion, ACE Jerneh now has the ca­pac­ity, knowhow and peo­ple to meet the vary­ing cor­po­rate, com­mer­cial and per­sonal in­surance needs of Malaysians.

Fol­low­ing the suc­cess­ful in­te­gra­tion and in con­junc­tion with the launch of the new brand in Jan­uary this year, ACE Jerneh em­barked on a ma­jor ad­ver­tis­ing cam­paign that in­cludes print, ra­dio and out­door ad­ver­tis­ing na­tion­wide. Like any new brand in the mar­ket, it is im­por­tant for ACE Jerneh to em­bark on a re­brand­ing ex­er­cise not only be­cause its logo and name have changed but also to raise aware­ness about the en­hanced value propo­si­tion to its tar­get au­di­ence i.e. cus­tomers, agents and busi­ness part­ners.

The re­brand­ing ex­er­cise is a key ini­tia­tive to com­mu­ni­cate ACE Jerneh’s strength, a re­sult of the coming to­gether of two ma­jor in­surance brands and our growth strat­egy pred­i­cated on our prod­uct devel­op­ment and multi-line, multi-distri­bu­tion model.

Prod­uct Devel­op­ment

ACE Jerneh cur­rently has an ex­ten­sive prod­uct port­fo­lio rang­ing from sim­ple prod­ucts such as mo­tor

A cus­tomer’s brand jour­ney is the sum to­tal of all ex­pe­ri­ences the in­di­vid­ual has with ev­ery touch-point of the com­pany.

and Per­sonal Ac­ci­dent to com­plex prod­ucts such as ca­su­alty and fi­nan­cial lines. We plan to in­tro­duce life­style in­surance prod­ucts in the im­me­di­ate fu­ture. The de­mand for such prod­ucts is very much driven by the chang­ing life­style of Malaysians and mar­ket trends. Malaysia is one of the fastest grow­ing coun­tries in the Asia re­gion, and we want to make known our ca­pa­bil­i­ties to meet the evolv­ing needs of our cus­tomers.

We will also lever­age on our prod­uct devel­op­ment, IT ca­pa­bil­i­ties and tech­ni­cal knowhow to en­hance ACE Jerneh’s com­pet­i­tive edge in our prod­uct of­fer­ings and cus­tomer ser­vice ca­pa­bil­i­ties. We want to de­velop a wide range of prod­ucts and ser­vices that meet the di­verse needs of our Malaysian cus­tomers in the per­sonal, com­mer­cial and cor­po­rate sec­tor. An ex­am­ple of this is our plan to grow the travel in­surance and small busi­ness in­surance port­fo­lios by lev­er­ag­ing on ACE’s avail­able ex­per­tise in th­ese prod­uct lines and the on­line sales plat­form such as:

ACE’s Global Travel In­surance Cen­tral Reser­va­tion Sys­tem [CRS] sys­tem for travel in­surance

ACE’s SME prod­uct plat­form, PRE­MIA for SME tai­lored prod­ucts

We be­lieve the tech­nol­ogy ACE can of­fer cou­pled with the close re­la­tion­ships ACE Jerneh agents have with their cus­tomers will en­able us to serve our cus­tomers bet­ter and more ef­fi­ciently.

Multi-line, multi-chan­nel distri­bu­tion

Due to the di­ver­sity and com­plex­ity of its busi­ness, ACE Jerneh now has the multi-line, multi-distri­bu­tion busi­ness model com­pris­ing of var­ied distri­bu­tion chan­nels – agency, bro­kers, di­rect mar­ket­ing, tele-mar­ket­ing, ban­cas­sur­ance and alternative distri­bu­tion. This will en­able us to reach out to a broad cross-sec­tion of the mar­ket. The ba­sis be­hind this strat­egy is to make avail­able ACE’s proven un­der­writ­ing and risk man­age­ment ser­vices to the Malaysian mar­ket. Di­ver­sity comes with an ex­pec­ta­tion of bet­ter ser­vice lev­els. Cog­nizant of that, we em­barked on sev­eral ser­vice en­hance­ment pro­grammes last year to im­prove the mo­tor claims turn­around time and the op­er­a­tional ef­fi­ciency to en­hance the ser­vice lev­els to our agents. Sim­i­lar pro­grammes will be ex­e­cuted to en­hance the ser­vice lev­els to our cus­tomers and other in­ter­me­di­aries.

In­vest­ment in Brand Aware­ness

ACE Jerneh launched a re­brand­ing ex­er­cise in Jan­uary this year on both above-the-line and be­low-the-line ad­ver­tis­ing plat­form that in­cludes print, ra­dio and out­door ad­ver­tis­ing as well as road­shows and var­i­ous forms of re­branded mar­ket­ing col­lat­er­als. An­other sig­nif­i­cant in­vest­ment in our re­brand­ing ex­er­cise is the re­fur­bish­ment of ACE Jerneh’s Head­Quar­ters along Jalan Sul­tan Is­mail which has been re­named Wisma ACE Jerneh. The re­fur­bish­ment be­gan in Au­gust this year and is ex­pected to be com­pleted by the first quar­ter of 2013. The re­fur­bished head of­fice will be the new home for more than 400 ACE Jerneh em­ploy­ees in Kuala Lumpur.

Brand­ing is es­sen­tial for busi­ness success es­pe­cially in the ser­vice in­dus­try like in­surance where prod­ucts of­fered are in­tan­gi­ble and of­ten pur­chased on the ba­sis of name recog­ni­tion and trust. A cus­tomer’s brand jour­ney is the sum to­tal of all ex­pe­ri­ences the in­di­vid­ual has with ev­ery touch-point of the com­pany. Hence, we in­tend to con­tinue to make sig­nif­i­cant in­vest­ments in ad­ver­tis­ing to im­prove our brand vis­i­bil­ity across var­i­ous cus­tomer touch-points. More im­por­tantly, to meet the ex­pec­ta­tions of our brand prom­ise, cus­tomer ser­vice is high on our agenda. We are com­mit­ted to ser­vice en­hance­ment projects and will make in­vest­ments where nec­es­sary to im­prove our ser­vice lev­els to our cus­tomers, agents and busi­ness part­ners. i

Steve Crouch Coun­try Pres­i­dent ACE Jerneh In­surance Ber­had

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