Category: Insurance Coverage

Insurance covers concerning Property and Pecuniary classes

Genetic testing threatens the insurance industry – The gene is out of the bottle

If A genetic test could tell whether you are at increased risk of getting cancer or Alzheimer’s, would you take it? As such tests become more accessible, more and more people are saying “yes”. The insurance industry faces a few…

MyEG loses appeal at the Competition Appeal Tribunal

This case is particularly interesting if we look at it from the aspect of MyEG having imposed different conditions to equivalent transactions in the processing of mandatory insurances…., reinforcing the fact that if a service provider having a dominant position…

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…

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…