ISM stands for Insurance Services Malaysia. It is wholly owned by all member insurers of Persatuan Insurance Am Malaysia (PIAM). NCD stands for No Claims Discount that is currently applicable as an experience discounting factor to the Motor insurance premium in Malaysia.
Share On 1st July 2010, the nation’s No Claims Discounting (or NCD in short) system has finally gone online. Despite all the grumblings, howlings and discontentment over the forced implementation among various stakeholders, things seemed rather quiet – perhaps for the real grouses and the complaints to move up the complain-channels, this would surely takes time. And two days after implementation…. the weekend came along may have also camouflaged alot of things…… // <...
Share The date, 1st July 2010 will mark another day for a major change to a long established Motor insurance practice…. this time is about the manner the No Claims Discount (or NCD) is to be confirmed. We expect some rough moments ahead as we viewed this new confirmation procedure as being haphazardly handled…. but hopefully not! Was this the reason why the implementation is made to coincide with the day when increase (from...
Share This may or may not be good news for all…. When ISM-NCD system was implemented in 2007, the operating framework was nothing but on a parallel run; one leg with IT platform and the other leg with the usual manual related options. After having ran for almost two years, ISM-NCD which ought to be an IT platform was never treated like one…or should I say, “It was just a big boy misbehaving…and refusing to grow...
Share While reviewing my previous write-up: ISM_NCD system & the future of it….felt something might have crawled into my brain cells….Yep! I think my brain cells are still functioning….after some heavy drinking session! While in the previous write-up, I may have written about single option – point of sale NCD real-time approval, I still have doubts whether we can be successful in plugging up the hosts of issues surrounding data submission. The current “lock, stock...
Share While it was recognised as a good attempt by ISM (or Insurance Services Malaysia in case you do not know) to introduce Information Technology innovation in shaping how the non-life insurance industry administer and managing the No Claims Discount (NCD) affairs, it is still not working to an efficient level as envisaged by the industry operators. While the bosses are talking and congratulating ISM for a job well down (obviously based on ISM...
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