MSIG, DBS launch instant e-payment service for travel claims

Singapore

MSIG and DBS announced the launch of Singapore's first instant electronic payment service for travel insurance claims this week. MSIG said it is the first to tap the bank's real-time payment service, using technology to focus on initiatives that will improve customer experience.

This service, rolled out through an application programming interface (API), will reduce the time a travel claim is settled by about four days. MSIG said it is the first company in Singapore to deploy this new service, and this is a reflection of its longstanding and solid partnership with DBS.