IoT is about Connecting Insurance with People and their Risks 


In reality, IoT is not merely about making every efforts in insuring those things, rather it is about connecting insurance with people and their risks. It is really about conscious connectivity, data collection and analysis for mutual benefits with the view to improve behaviours, cultivating the adoption of risk-based pricing, retention of low risks customers and making others less risky, together as a destination…. and alot ideas we can capture from viewing those slides.

The United Kingdom Insurance Act 2015  And The Enterprise Bill 2015


What constitutes an unreasonable delay will of course depend in part on the nature and circumstances of the individual claim, particularly the size and complexity of the loss.

The extent to which an assured may be able to claim for consequential losses will be determined in accordance with the usual provisions of English contract law. In particular, an assured would in principle be able to recover those losses, caused by unreasonable delay by an insurer, that could be reasonably said to have arisen in the normal course of events. This is often referred to as a loss that is “reasonably foreseeable”.

Assistant Governor’s Keynote Address at the General Insurance Agents Convention – “Distribution in a Liberalised Environment”


Over the next 5 to 10 years, the insurance industry will undergo its most significant transformation, possibly since the early 1990s when the insurance regulatory system in Malaysia was overhauled. During this period, the insurance landscape is expected to change in ways that will have a direct and profound impact on the experience that consumers and businesses have with insurance. As major intermediaries between insurance providers and consumers of insurance products and services, how insurance agents think about their business and interact with their customers can make an important difference….

What To Expect In The First Year Of Detariffication Of The Motor And Fire Insurance Framework 


During the phased liberalisation period, new products must provide meaningful additional value to consumers or address specific risk protection needs which are unmet by existing products under the Tariffs. A licensed person shall not introduce any new product that is designed to circumvent the relevant Tariff.
Actions by a licensed person to circumvent the Tariffs or impede the policy objectives set out in paragraph 1.3 shall be grounds for the Bank to withdraw the flexibilities provided to the licensed person under this policy document, in addition to enforcement actions that may be taken by the Bank.

GetCover, a fintech insurance platform or an MLM in disguise?


Out of nowhere you get this “white knight” in GetCover telling you selling motor insurance can make you a million ringgit income annually. What exactly that they are providing with their fintech that they are able to pay you such an income?
The peoples behind this are independent financial advisers and their business modelled around Offline to Online (O2O) transactions. 

Fitch Downgrades 7 Asian Insurers After Sovereigns Criteria Review | Reuters

(The following statement was released by the rating agency) SINGAPORE/HONG KONG, July 27 (Fitch) Fitch Ratings has downgraded the Insurer Financial Strength (IFS) ratings of seven insurance companies in Asia by one notch. The Outlook on these ratings is Stable.…