Issue 25 (May – June 2014)

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COVER STORY:
CEO Jens Reisch Leads Allianz Malaysia Into The Top Spot Jens Reisch, a true testament to brand loyalty begun his career with Allianz in 1983 and has climbed up the ladder to now lead the Malaysian branch into greater success. Kashini Krishnamurthy sits down with him on how he has achieved this success is a short amount of time and where he sees Allianz Malaysia heading in the future.

FEATURES:
Introduction to Telematics: Changing the Measurement of Risk For decades, insurance companies have managed their driver insurance book using a "pooled risk" model.  Insurers assessed driver risk using blunt proxies such as profession, gender, age, marital status and medical history. Groups of drivers who presented varying degrees of risk were bundled together to spread an insurer's risk.

Sharing Best Practice with Neighboring Asian General Insurance Markets through the Insurance School (Non-Life) of Japan: Helping develop a sound general insurance industry under a deregulated market. The Japanese general insurance industry has been actively promoting the exchange of insurance technology and expertise overseas, particularly in East Asian regions.

Philippines' Non Life Sector: Meeting The Capital Challenge The Philippine non-life insurance sector is going through a transition as it scales up to meet higher capital requirements under a new regulatory code. Challenging market conditions, with little driving momentum in the industry, has left many insurers feeling pressured as they cope with capital hikes. A.M. Best believes market consolidation is inevitable as the number of players continues to shrink due to merger activity and license withdrawals.

KNOWLEDGE MANAGEMENT:
Overcoming Pitfalls of Silo Mentality in the Insurance Industry  Functional silos exist whenever functional units tend to focus more on meeting functional objectives than on overall organizational objectives. This inward focus over time leads to the preponderance of a silo mentality in which people are convinced that their only responsibility is to their functional unit's success. The customer's needs and that of the organization come later.

INSIGHT:
Evolution of Consumer Insurance Marketing Insight by Mr Amir Ghaffar, Executive Vice President of ACE Jerneh Insurance Berhad.

 

FOCUS:
Open Column: Mind Your Office Manners With today's fast changing pace and technology constantly just a swipe away, many of us are quickly forgetting to mind our manners especially in the boardroom. Office etiquette may seem like an afterthought compared to all the hard work you put in from 9 to 5 but it can be the deciding factor when you're up for a review or promotion. In an age where everyone has their heads locked on a screen, it's important to be the one that stands out with impeccable manners especially in front of the bosses.