Day |
Operation hour |
---|---|
Monday to Friday |
8.30am until 5.30pm |
Saturday, Sunday |
closed |
Public holiday |
closed |
COVER STORY:
Perseverance Leads to Success: Zainudin Ishak Having been in the industry for over two decades, En Zainudin Ishak is noted for his impressive business acumen and in-depth industry experience. He has extensive knowledge spanning the general insurance and reinsurance, Takaful and re- Takaful businesses. En Zainudin had previously led the helm at HSBC Amanah Takaful and CIMB Aviva Takaful Berhad before his current stint as President and Chief Executive Officer at Malaysian Re. MII is privileged to talk to him on his success, vision and growth plans for the future.
FEATURES:
Is Malaysia Ready to Embrace Digital Insurance & Takaful? Malaysian consumers have embraced mobility, are very vocal on social media with more than 13 million Malaysian Facebook users by 2012, e-Commerce is expected to grow to RM3.4billion in 2015 and overseas direct purchase of insurance online is growing. Are Malaysian consumers ready to buy Insurance & Takaful online?
Challenges in Minimising Business Interruption Losses Most businesses recognise Business Interruption (“BI”) insurance as a crucial risk management measure and appreciate the importance of BI cover to ensure trading profit is protected, should insured damage be sustained.
Lloyd’s City Risk Index Identifies Cities Top Threats In September 2015, Lloyd’s launched its ground-breaking study, the Lloyd’s City Risk Index. The Lloyd’s City Risk Index presents the first ever analysis of economic output at risk (GDP at risk) in 301 major cities from 18 manmade and natural threats over a 10-year period.
Technology a Double-Edged Sword Against Insurance Fraud Insurance fraud is on the rise around the world and insurers have started to feel the pinch. In 2013, general insurers detected 118,5001 cases of attempted claims fraud in the United Kingdom where 12 in every 10,000 applications and claims were found to be fraudulent with vast majority (80 per cent) being found to be by consumers.
Three Technology Trends Malaysian Insurance CIOS Should Be Aware Of The insurance industry in Malaysia will face a number of challenges that can lead to dramatic changes over the next few years. Detariffication in motor and fire product lines will allow insurers to design and price their products differently. Gartner is convinced that technology plays a crucial role in addressing these challenges. From a strategic perspective, we believe that business and IT leaders in the Malaysian insurance industry will need to focus on at least three primary imperatives in order to maintain existing profitability levels and remain competitive in this market:
A Contemporary Injury Scale for Motor Vehicle Injuries Motor vehicle accident is related to two types of severity – accident severity and injury severity. The former includes damages to the vehicle while the later refers to the bodily injuries (injury sustained by a person involved in the motor vehicle accident). Number and the severity of injuries in motor vehicle accident is one of the important parts in traffic safety evaluation. The assessment of injury severity is therefore essential as it is one of the most important fields of injury prevention.
Cyber Risks: An Insurable Threat? Considering the recent cyber incidents worldwide, over half of Insurers, Reinsurers and Risk Managers in Asia are now more inclined to purchase cyber insurance coverage for their companies in the coming year.
MDRT:
Striving for Excellence: Fu Cheh Shiun, Zurich Melaka "An insurance agent is a person who works on a system and follows the system closely. This requires self-discipline and self motivation. He or she needs to be driven to excel in his or her career."
OPEN COLUMN:
Fraud Intelligence System: The Use of Analytics in Fraud Detection As rightfully mentioned by Dato’ Syed Moheeb in his previous article titled “Insurance Fraud? Who Cares?” the Malaysian insurance and Takaful industry is not optimising the usage of predictive analytics in their fight against fraud. Well, when it comes to fraud, fraudsters can get creative which makes it difficult to detect due to the changing behaviour of the fraudster.
KNOWLEDGE MANAGEMENT:
Cracking the Talent Development Code of the iY Generation, Time to Upgrade (Part 2) The objective of this follow-on article is to focus more on the specific skillset interventions required to ‘upgrade’ the potential talent contribution of the iY Generation so as to “get the very best rather than the most from our young talent”.
CHALLENGES:
The Layering Debacle in D&O Policies: Tiers & Tears! These days, D&O insurance programmes with large limits are arranged in several layers. In simple language, the programme provides additional layers of coverage (the excess layers) which are supposed to follow the terms and conditions of the underlying policy(ies), especially the primary policy.
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