ACE Jerneh ReBranding
Insights into the
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.
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