Share I must be quite a relieved man, having spent the last 5 days single handedly (with bare hands) got the prototype site for Project – MIIA Network running. You may want to check this site out: http://malaysiainsurance.info/Project-MIIA Because of this very busy time of the year, I have to burn the midnight oil to complete this task, and as expected things can look abit messy. Also point to note the front-page slider image-show...
Share Your boss gave you a list containing “Referral or Referred” risks with specific instruction that your agents cannot accept them but to make referral to you. You would have to assess whether you have the authority to accept such referral otherwise your decision is whether you would want to escalate this to your boss for a decision. You boss also provide you with another listing containing “Declined” risks , and his instruction...
Share It has been more than 4 years since the guidelines were introduced on 1/1/2005 but it has hardly changed…… It has been more than 4 years since the guidelines were introduced on 1/1/2005 but it has hardly changed discounting the penalties and the recent more generous allocation of CPD hours for a half day seminar/course. The static is ironic really, since this need to raise the standard of competency and professionalism of agents...
Share All insurers writing non-life insurance business in Malaysia are required to take up share in the Malaysia High Risks (unplaced) Motor Pool, now named as Malaysia Motor Insurance Pool (MMIP) during its formative stages; back in 1992. The shares are on equal basis. It is not something you wish for but for the sake of national service…. Over time, things changed, there are now lesser companies compared to MMIP’s formative days, ie. Peoples...
Share I read your blogs with written topics concerning the readiness of our agency force with interest. We can refresh with the following blog materials: How agents are preparing for mandatory motor rebate The growing pains of direct rebating Having been around the industry for quite awhile I find it absolute true that our agency force is not prepared for the many imminent changes ahead. Many of the agents are merely relying on their...
Share We have written in our previous post on June 22nd – The growing pains of direct premium rebating…... Looks like no one seems to notice the importance of doing away with Clause 5.3 of the Inter-company agreement on General Insurance Business (ICAGIB). PERWAKIM is looking at some other things (picketing is already over, what’s next?) and overlooked this point…. Ms Liza Lau, there is more definitely more that the association can do in...
Share I am not sure whether this is going to be a reality, ie. the Malaysia Motor Insurance Pool (MMIP) has appointed POS Malaysia to help issue cover for vehicles aged > 10 years citing the public is having difficulties in renewing motor insurance for their aging vehicles from their existing insurance company. Currently only Uni.Asia and Multi-purpose are providing the services for the public to purchase MMIP’s brand of insurance. (The MMIP brand was...
Share Today the final blow was delivered where the word “members” of Clause 5.3 Inter-Company Agreement (ICA) was deleted after unanimously agreed upon. This means agents and brokers cannot rebate where insurers are able to; signifying a divergence of focus between intermediaries and principals. The circular further mentioned that rebating is discretionary (for member companies) where corporate, NGOs, business, charities and government accounts (and the likes) are concerned – further hammering the nail where...
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