Year: 2017

What and How do we tackle application fraud?

The following is an opinion article, written by Neil Clutterbuck, chief underwriting officer at Allianz, UK. With fraud adding an estimated £50 to every UK policyholder’s insurance bill, preventing it is a key responsibility for insurers. But while the industry…

Is our economy really that promising?

By LIM SUE GOAN Malaysia’s exports rose by 32.5% in May, marking seventh consecutive month of double-digit growth and the biggest increase in seven years. This is both a good news and a bad one. Why? Well, exceptional export growth…

The colour of your car may be a pricing factor in your car insurance

Interesting article from https://businesstech.co.za/news/banking/182879/do-insurance-companies-care-about-the-colour-of-your-car/ Car insurance companies use a list of factors to calculate your risk and determine premium rates. And while there are some commonly accepted boxes that need to be ticked off when calculating your insurance costs –…

Motor insurance adjusters get jumpstart from Alibaba’s fintech arm

by Gabriel Olano 29 Jun 2017 Ant Financial, a fintech affiliate of e-commerce giant Alibaba, has debuted an artificial intelligence-powered image recognition system that can help motor insurance claims adjusters operate faster and more efficiently.Around 45 million vehicle insurance claims are…

Practice Notes 00002 of 2017 on Motor Insurance Detariff Do’s and Don’ts

The Practice Note dated 20th June 2017 that contains the Regulator’s latest FAQs was certainly not anything good for the Non Life industry, definitely not when Hari Raya is just around the corner. It has caused significant disruption for the…

Telematics Drive Reduced-Premium Usage-Based Car Insurance With Upfront Savings

JUNE 15, 2017 10:00 PM EDT SINGAPORE — (Marketwired) Audrey Liu Manager, Brand and Communications Etiqa Insurance Pte. Ltd. Insurance arm of Maybank Group, Etiqa Insurance, has launched an affordable usage-based car insurance ePROTECT sMiles in Singapore, providing 50% premium savings…

Did Uber, Grab drivers lie to claim insurance?

June 9, 2017 Nur Khairah Alegria Suner PETALING JAYA: Syndicates have emerged among drivers of Uber and Grab ride-sharing services to claim insurance by lying about the cause of their vehicle accidents, an association for regular taxi drivers has alleged.…

The truth about job-loss or unemployment insurance

By Devansh Sharma, ECONOMICTIMES.COM | Jun 08, 2017 If you are considering to buy a job-loss cover, read the primer so that you do not end up buying something you did not want. If you are afraid you might be laid off by your…

Financial Technology Enabler Group

The industry should know about this newly established setup….  This is where you need to approach to apply for approval of those so-called Financial industry disruptive IT platform. Check them out. The Financial Technology Enabler Group (FTEG) was established by Bank Negara…

Kidnap and Ransom (K&R) Insurance, an unexpected protection against ransomware attacks

The original article was taken from IndiaTimes…. but something that most underwriters are surprised that ransomware threats are claimable under Kidnap and Ransom policy.  The kidnap policies are typically used by MNCs looking to protect their staff in areas where violence…