Motor Insurance…. can make profits with so many unnecessary accidents?

Today and Yesterday… learned (or rather forced to) some hard facts, this BLOGGING thingy cannot be as easy as ABCs. First you have to know what to write, then you need to check if you have got the facts and the grammars correctly in place, check if the tech aspects of the blog have not created some auto misalignment of your contents that you have had created with the “visual” section of the type-face, tag & categorise the post, sort out the SEO as well as the keywords…. and then finally, ask yourself a simple question – “did you managed to screw someone today or someone could take offence of what you have written here”. The tech is killing you and your readers (if they did managed to be one…) may love and hate you… and all that jazz.

Anyway, or put it this way… we have since converted some of the (sensitive) postings into “subscribe” or “private” or “password-protected” – somehow better to release information this way. And, it is necessity, especially with most of our readers or audiences coming by being CONSUMERS looking for a solution to their insurance requirements, Malaysia Insurance Online should focus more on SOLVING THEIR PROBLEMS or at least, GET THEM SOME SORT OF SOLUTIONS…. lah!

Thank you for reading, please view our CAR, TRAIN, LORRY…. ACCIDENTS  and berhati-hati di jalanraya!

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4 comments for “Motor Insurance…. can make profits with so many unnecessary accidents?

    July 29, 2010 at 09:21

    ## can you pls share your opinion on this …..matter.As the general public often “Pin-point” to both party..i.e Insurance Comp refuse to pay full or the Workshop mark-up the claims.

    Thursday July 29, 2010
    Customers will lose out, say workshops

    PETALING JAYA: A feud between car repair workshops and insurance companies over repair costs is likely to jeopardise customers following a threat by workshops to use only non-original spare parts.

    The move by the Federation of Automobile Workshop Owners Association Malaysia (FAWOAM) came about as it accuses motor insurance companies of deducting sometimes up to 30% in settling claims for repair costs.

    Their refusal to use Original Equip­ment Manufacturer (OEM) parts could depreciate the resale value of the vehicle, besides compromising consumer safety.

    However, FAWOAM president Kong Wai Kwong acknowledged that only some motor insurance companies were declaring a cut of between 20% and 30% for OEM parts.

    “The workshops buy original parts at 20% discount from suppliers but some motor insurance companies would slash 30% from their repair claims. So even before the workshops start the repair works, they have already registered a 10% loss.

    “For example, a BMW OEM part is only offered at a 0.7% discount but in­surance companies impose a 20% deduction,” he said, adding that this meant that the workshops would have to bear the high costs of those spare parts.

    Insurance companies, he said, should follow the price list of OEM parts which was outlined in the Motor­data Research Consortium database.

    On Sunday, FAWOAM took out newspaper advertisements to say that non-OEM parts would be used if insurance firms impose more than a 10% cut.

    Kong said the association raised the problem in March with Bank Negara and was told to discuss it with General Insurance Association of Malaysia (PIAM).

    PIAM executive director Lim Chia Fook confirmed it met with FAWOAM in April, during which it had requested the association to provide supporting data on the issue.

    There had been no response to date, he said.

    • July 30, 2010 at 23:10

      This is love-hate relationship in between both the insurers and the workshops, or was it the people running the show have this love-hate thing? In the old days, the proprietors of the workshops and the insurance claims handlers were buddies – hand-in-hand to night clubbing, liquor, women, dancing in the dark… you name it! I am sure you ever read the newspaper then some personnel was involved claims staging and so on and so forth. Of course along the way, you get those buggers bashing one anothers up… kow, kow! ..that’s when relationship turns bad, you also get alot of poison letters flying around and not knowing who wrote them. Then in the 80s, I heard of Mr. 15%, Mr. 10% and so on…. including macai(s) going around carrying the insurer’s cheque and exchanging them for some doles…. Unfortunately, you get alot of macais also adjusters. Perhaps that what form the past. Today things have sort of changed, gone were the days of the cowboys, macais and taikohs…. many of the workshop proprietors are now graduate and some even have Phds.. my God, they are a different breed now. So they go about setting up Workshop Associations around the country and link themselves up in order to strengthen their position – in order that they will not be blown up by the competition and the FORCES of mistrust between parties! Alas, the insurers’ association does not recognise them officially.

      It is something from the past, just refuse to go away – perhaps if we start to change the people holding position of authority for both sides, then things may be better. They do not said this for nothing… “Habits and culture takes a long time to get here, certainly this would not go away that easily! Trust me, this kind of things will always be there until the senior handling personnel from both sides relinquish their position. We need more modernisation on both sides of the fence…

  2. July 27, 2010 at 15:31

    [New Post] Motor Insurance…. can make profits with so many unnecessary accidents? – via #twitoaster

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