Tag: Intermediary

Issue of foreign students insurance » Agents cry foul over EMGS-AXA link-up

Cardinal rule number 1 is that consumers should be consistently provided with more buying options but yet they are put in a position of limited option or no option at all; usually on the pretext that this “one and only”…

New Income Tax Rules A Pain For Insurance And Takaful Agents

What you see, you may not know about the new tax ruling

It is no great news for the Malaysian insurance agency fraternity…. More income tax coming your way! As announced in the 2012 Malaysian Budget, the proposed new Section 83A of the Income Tax Act 1967 requires every company making payments…

Motor Insurance Portfolio – A Magical Formula in time for Christmas?

Malaysian bak kut teh

Today is Christmas Eve and I am staring blank into my notebook’s screen….. and I am on leave currently – taking leave from the hustle and bustle of everyday life only to be inspired working on a Christmas-blog! Stucked along…

Entertaining the Insurance Distribution Channels

Entertaining our business channels (eg. agents and brokers) is part and puzzle of doing business – this has always been a tradition of sort for most industry and globally recognised as such. In this aspect our Malaysia insurance industry is…

Setting up an extensive branch network to expand business?

Special thanks to - http://healthclub.info-ebazaar.com

STRETCHING THE BUSINESS-REACH GEOGRAPHICALLY – Building on BRICK-AND-MORTAR or Mobile-eCOMMERCE setup, which is more effective? 😎 Expanding business reach nationwide is not exactly easy nowadays. With underwriting agents and multi-tier agency models gone since the 1990s, widening the business network…

Can an insurance agent issue policy on behalf of the insurer?

insurance policy issuance by agents

Since the early 1990’s after the sun had dawn on the now defunct underwriting agency channel and their network of sub-agency, insurance companies had totally discontinued allowing the issuance of policy documents (other than cover notes) by agents. Moreover the Bank Negara then was…

Direct MOTOR Rebating – How does this works?

insurance rebate

The Guidelines in respect of Direct Motor Mandatory Rebate (click on the PDF for details of the Guidelines) can be quite confusing, having confused numerous insurers when it was first implemented on 1st July 2009. Now some critical issues were also…

MyEG Services in “www.myeg.com.my” insurance venture, a path less travelled…

MyEG.com.my

In recent days, My E.G. Commerce Sdn Bhd (including MyEG Services Berhad) and their insurance principals are consistently lambasted with complaints coming from other insurers. Most cited the blatant breach or disregard the existence of General Regulation 33 of the Motor Tariff, Guideline on…

Referral Risks and Declined Risks…. What are these?

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…

Continuous Professional Development (CPD) Guidelines for General Insurance Agents & Staff of Bancassurance Partners – Keeping it simple

lim bee yan

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…