Author: malaysiainsurance

Free-form insurance blogging - anything on earth.... maybe outer space but that's necessarily on and about insurance

As robots advance, up to 5 in 10 Malaysian jobs at risk

This article is taken from the edgeweekly, thought was interesting thinking about what’s going to happen to our industry in the next couple of years…. Fukoku Mutual Life Insurance would make a good example. KUALA LUMPUR: Some 18,000 people who…

Exposure Draft on Outsourcing Arrangements for Financial Institutions

Malaysia October 9 2017 Bank Negara Malaysia (i.e. the Central Bank of Malaysia) (BNM) had on 28 September 2017, issued an exposure draft of the Outsourcing Guidelines (Exposure Draft) to obtain public and industry feedback on the proposed regulatory requirements.…

How Gas Stations Work And The Technology Behind It!

This writeup is a good read for underwriters….  How Gas Stations Work We all use them at least a couple of times a week, but do you really know how gas stations work? A typical gasoline station has a storage capacity of…

Telematics Insurance | Learning from Singapore?

Insurers take advantage of technology to offer motor policies based on usage, driving habits Lorna Tan Invest Editor/Senior Correspondent With technological advances shaping the insurance industry, more insurers and their customers are adopting the so-called usage-based options which set premiums…

Professional Indemnity Insurance for Medical Practitioners will be Mandatory in 2019

Malaysia’s Medical practitioners applying for the Annual Practicing Certificate (APC) must provide proof of cover for Professional Indemnity. Recent regulations pose that effective January 1, 2019, all medical professionals will require this as a mandatory cover in order to practice.…

Government Tables Employment Insurance Scheme (EIS)

The government tabled the Employment Insurance Scheme (EIS) bill to aid retrenched workers with bridging benefits and allowances. It seeks to provide an insurance system for workers who have lost their employments by providing certain benefits and re-employment placement programme.…

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…