Berjaya Sompo Insurance Berhad

What Berjaya Sompo Insurance Berhad does

Berjaya Sompo Insurance Berhad is a general insurance company headquartered in Kuala Lumpur, Malaysia, operating as a joint venture between Malaysia's Berjaya Group and Japan's Sompo Holdings. Incorporated in 1980 (operating since the 1970s) and regulated by Bank Negara Malaysia under the Financial Services Act 2013, the company is a member of PIDM and is part of Sompo Group's global network spanning 218 cities across 30 countries. It employs between 501 and 1,000 staff.

The company offers a comprehensive product portfolio across personal and commercial lines. Personal products include motor (SOMPO Motor, mileage-based SOMPO MotorSafe with telematics device), motorcycle, home content, travel (SOMPO TravelSafe+), health, and personal accident coverage (Ultima Care, Auto Plus, Easy Rider, SOMPO CashNow). Commercial products span SME packages (FlexiBiz, FlexiSME, SOMPO SME), fire and industrial all-risks, commercial vehicle, marine cargo and hull, contractors' all risks, machinery breakdown, electronic equipment, fidelity guarantee, and liability lines. Supporting infrastructure includes the MySOMPO mobile app for policy management and claims, the SOMPO Tag telematics device for usage-based pricing, the SOMPO Reach partner portal, and an integrated claims processing platform via Merimen.

Berjaya Sompo distributes through a hybrid model combining a nationwide authorized agent network, direct digital channels (online.berjayasompo.com.my, MySOMPO app), bancassurance partnerships with CIMB Bank (motor, home, EV Financial Solutions), embedded insurance marketplaces (PolicyStreet, Cover Genius, RoamingMan), physical branches, and a call center. Revenue is generated from insurance premiums (motor, travel, home, health, commercial) recognized over policy coverage periods, supplemented by investment income from float. Pricing varies by product and risk profile, with usage-based options and online rebates up to 25% supporting digital channel growth. The company is led by incoming CEO Soo Wai Har (effective April 2026), reporting to Sompo Asia Pacific leadership.

Name

Berjaya Sompo Insurance Berhad

Legal name

Berjaya Sompo Insurance Berhad

Website

https://berjayasompo.com.my

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Berjaya Sompo Insurance Berhad is a Malaysia-based general insurer and joint venture between Berjaya Group and Japan's Sompo Holdings, offering motor, travel, home, health, personal accident, and commercial insurance products to consumers, SMEs, and enterprises through agents, digital platforms, and CIMB bancassurance.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Direct Health and Medical Insurance Carriers (524114)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Auto & Fleet Insurance (FSAJAMAB)

akta.pro secondary industry

Umbrella & Excess Liability (Fleet/Transportation) (TLABANAG)

Keywords

• General insurance
• Motor insurance
• Travel insurance
• Commercial insurance
• Personal accident

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Insurance Premium Revenue: Core revenue from underwriting general insurance policies including motor, travel, health, personal accident, home, and commercial insurance. Premiums are collected upfront for policy periods and recognized over the coverage period.
2. Investment Income: Returns generated from investment of float (premiums held before claims are paid) in securities, fixed deposits, and other financial instruments.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels10 records

Core offering

Berjaya Sompo Insurance Berhad underwrites and distributes a comprehensive portfolio of general insurance products in Malaysia under the SOMPO brand. Personal lines include motor (traditional and mileage-based MotorSafe), motorcycle, home content, travel, health, and personal accident insurance, while commercial lines span fire, industrial all risks, commercial vehicles, contractors' all risks, marine cargo/hull, machinery breakdown, electronic equipment, money, fidelity guarantee, and SME packages (FlexiBiz, FlexiSME, SOMPO SME). Distribution is conducted through a nationwide authorized agent network, digital self-serve portals, the MySOMPO mobile app, bancassurance with CIMB Bank, branches, and call centers.

Product overview

Berjaya Sompo Insurance Berhad is a general insurance company in Malaysia offering a comprehensive portfolio of personal and business insurance products. The personal insurance offerings include SOMPO-branded online products (SOMPO Motor, SOMPO MotorSafe, SOMPO Motorcycle, SOMPO HomeNow, SOMPO TravelSafe+) alongside specialty personal accident products (Ultima Care, Ultima V3, Auto Plus, Easy Rider, SOMPO CashNow) and health coverage (SOMPO Health, SOMPO Premier PA). For business insurance, the company provides SME solutions (SOMPO FlexiBiz, SOMPO FlexiSME, SOMPO SME), fire and property coverage (SOMPO Fire, Industrial All Risks, Fire, Fire Consequential Loss), commercial vehicle insurance, and specialized commercial lines including Marine, Contractors' All Risks, Electronic Equipment, Machinery Breakdown, and Fidelity Guarantee. The company also distributes bancassurance products through CIMB Bank (Home Safe Plus, Secure Home, Secure Motor). Service infrastructure includes MySOMPO mobile app, Rakan Auto roadside assistance, and claims processing through Merimen platform. The company is regulated by Bank Negara Malaysia and is a member of PIDM.

Differentiator

Problem solved

Functional benefit

Brands

• SOMPO: Insurance brand under Berjaya Sompo Insurance Berhad, part of the global Sompo Group network offering motor, travel, home, and other insurance products.

Products and services

• SOMPO Motor
• SOMPO MotorSafe
• SOMPO Motorcycle
• SOMPO HomeNow
• SOMPO TravelSafe+
• Ultima Care
• Ultima V3
• Auto Plus
• Easy Rider
• SOMPO CashNow
• SOMPO Health
• SOMPO Premier PA
• SOMPO JMB
• SOMPO Fire
• Industrial All Risks
• SOMPO FlexiBiz
• SOMPO FlexiSME
• SOMPO SME
• Commercial Vehicle
• Marine Cargo
• Marine Hull
• Contractors' All Risks
• Machinery Breakdown
• Electronic Equipment
• Fidelity Guarantee
• Houseowner/Householder
• Home Safe Plus (CIMB)
• Secure Motor (CIMB)
• Rakan Auto

Quantifiable outcome

• Up to 50% premium discount available for low-mileage drivers through SOMPO MotorSafe
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability1 record

Feature4 records

Partnerships

16 partnerships are on record, tiered core and minor.

• Ti-Ratana Welfare SocietycoreStrategic or Co-development Partner · 20 December 2025Three-year partnership (2025-2028) focused on uplifting lives through education, welfare, and well-being initiatives. Berjaya Sompo will provide support to enhance community development programs.
• Global Environment Centre (GEC)minorStrategic or Co-development Partner · 25 July 2023Environmental partnership for river slope mitigation through tree planting at Klang River Basin. Over 730 trees planted with GEC and Department of Orang Asli Development.
• CIMB BankcoreChannel Partner/ Reseller/ Distributor · 1 May 2023Bancassurance partnership for distribution of motor insurance products including EV Motor Pack with 5% premium discount and 10% cash rebates. Collaboration on EV Financial Solutions for electric vehicle adoption.
• Bermaz AutominorChannel Partner/ Reseller/ Distributor · 1 May 2023Partnership for Mazda Insurance Premium distribution through Bermaz Auto dealers.
• Yayasan Generasi GemilangminorStrategic or Co-development Partner · 1 January 2022Partnership since 2022 to educate and provide basic needs to B40 communities. 9 CSR activities conducted with 30 volunteers.
• Tabung Darah NegaraminorStrategic or Co-development Partner · 1 January 2022Quarterly blood donation campaigns since 2022. More than 150 blood pints donated, with campaigns continuing to address blood shortage during festive seasons.
• PolicyStreetminorChannel Partner/ Reseller/ DistributorDigital insurance marketplace partnership for online insurance distribution.
• Cover GeniusminorChannel Partner/ Reseller/ DistributorEmbedded insurance distribution partnership for digital platforms.
• CollinsonminorChannel Partner/ Reseller/ DistributorTravel insurance and assistance services partnership.
• RoamingManminorChannel Partner/ Reseller/ DistributorTravel insurance partnership for international travelers.
• Yamaha Racing TeamminorGTM or Marketing PartnerRoad safety collaboration as main sponsor for Berjaya Sompo Yamaha Y16ZR Race Masterclass at Malaysian Superbike Championship and sponsor of AEON Credit Service Yamaha 135LC Tekhne Challenge at Malaysian Cub Prix.
• Hong Leong Yamaha Motor Sdn. Bhd. (HLYM)minorGTM or Marketing PartnerCollaboration on 'Kempen Keselamatan Jalan Raya Balik Kampung' road safety campaign targeting young motorcyclists, held at four universities with over 300 participants.
• PERWAKIM (Persatuan Wakil-Wakil Insuran Am Malaysia)minorGTM or Marketing PartnerCollaboration on 'Balik Kampung Vehicle Inspection' campaign. BSIB sponsored 90 cars for PUSPAKOM inspection to ensure safe traveling during Hari Raya.
• Seven Tea OneminorStrategic or Co-development PartnerSocial enterprise beneficiary of Sompo Welfare Foundation grant. Produces Halal-certified healthy infusion herbal blends for the community.
• Merimen.comcoreTechnology or IntegrationClaims processing platform integration for online claims submission, status tracking, and adjuster assignment.
• PIDMcoreOthersPerbadanan Insurans Deposit Malaysia (PIDM) provides deposit protection system information. Berjaya Sompo is a member of PIDM, with eligible products protected up to limits.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Etiqa General Insurance: One of Malaysia's largest general insurers offering motor, home, travel, health, and commercial lines through agents, bancassurance, and digital channels. Directly comparable to BSIB across product portfolio, distribution model, and target segments in Malaysia.
• Allianz Malaysia (Allianz General Insurance): Major Malaysian P&C insurer backed by global Allianz Group, offering motor, home, health, and commercial insurance through agents and bancassurance. Directly comparable to BSIB given similar JV with a global parent and overlapping product/market focus in Malaysia.
• MSIG Malaysia: Malaysian general insurer owned by MS&AD Insurance Group (Japan), offering motor, personal accident, commercial, and specialty lines. Directly comparable to BSIB as another Japanese-affiliated general insurer with similar product breadth and agent/bancassurance distribution in Malaysia.
• AXA Affin General Insurance: Malaysian general insurer offering motor, home, health, and commercial insurance through agents and digital channels. Directly comparable to BSIB as a Malaysian P&C carrier; relevant because Soo Wai Har (BSIB's incoming CEO) previously held senior roles at AXA Affin.
• AIG Malaysia: Malaysian general insurance operation of AIG offering personal and commercial lines including motor, property, marine, and liability. Directly comparable to BSIB given similar broad product portfolio and global parent backing; Soo Wai Har (BSIB's incoming CEO) also previously held senior roles at AIG.
• Liberty Insurance Malaysia: Malaysian general insurer offering motor, home, travel, and commercial insurance through agents and digital channels. Directly comparable to BSIB as a mid-sized Malaysian P&C carrier with similar agent and online distribution mix.
• Zurich General Insurance Malaysia: Malaysian general insurer offering motor, home, travel, and commercial lines backed by Zurich Insurance Group. Directly comparable to BSIB given similar global parent JV structure and product portfolio in Malaysia.
• Chubb Insurance Malaysia: Malaysian general insurer offering personal accident, motor, home, and commercial insurance under the global Chubb brand. Directly comparable to BSIB given overlapping product lines and focus on the Malaysian middle-class and SME segments.
• Tune Protect Group: Malaysian-listed general insurer with travel, motor, and PA products plus embedded insurance partnerships. Directly comparable to BSIB as a Malaysian general insurer with strong digital and embedded distribution, providing a relevant benchmark on digital insurance economics.
• Generali Malaysia: Malaysian general insurer offering personal and commercial lines, backed by Italian global insurer Generali. Directly comparable to BSIB given overlapping products and the fact that BSIB's incoming CEO previously served as CEO of Generali Malaysia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/BerjayaSompoInsurance
• Facebookfacebook.com/berjayasompoinsurance
• LinkedInlinkedin.com/company/berjaya-sompo-insurance-berhad
• Instagraminstagram.com/berjayasompoinsurance

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Berjaya Sompo Insurance Berhad