Our Story

Introduction

Persatuan Insurans Am Malaysia (PIAM) originated from the establishment of various insurance and tariff associations set up in 1885 that played a role as a collective voice of the insurance industry in Malaya and Singapore shortly after the Independence of Malaya in 1957. In June 1961, the Insurance Association of Federation of Malaya was formed to maintain tariff insurance legislations and promote sound insurance practices. For the first time, an Association was established in Kuala Lumpur to safeguard the country's general insurance interest. Subsequently, PIAM was established in May 1979 as a statutory trade association recognised by the Government of Malaysia for all registered insurance business.

PIAM has 23 member companies comprising direct general insurance and reinsurance companies operating in Malaysia.

Our Vision

To be the trusted voice of the insurance industry, delivering innovative, reliable, and customer centric insurance solutions that ensure financial security and peace of mind for all.

Our Mission

Insurance Industry

Advocating for a resilient, sustainable, and efficient insurance industry through research, innovative solutions, and the adoption of best practices.

Consumer

Enhancing consumer protection and awareness through education, proactive engagement, and the promotion of industry-leading best practices.

Our Core Values

Integrity

Operating with honesty, transparency, and ethical behaviour in all business dealings.

Collaboration

Fostering a team-oriented environment where collaboration and mutual respect are valued.

Innovation

Constantly striving for improvement and open to new ideas and approaches.

Diversity & Inclusion

Embracing diversity in all its forms and creating an inclusive environment where everyone feels valued and respected.

Excellence

A commitment to high standards and continuous improvement in all aspects of the business.

Accountability

Taking responsibility for one's actions and decisions.

Heritage

Our heritage began three decades ago with the establishment of the Insurance Association of the Federation of Malaya, aimed at maintaining tariff insurance legislation and promoting sound insurance practices.

1961
  • Incorporation of the “Insurance Association of Federation Malaya”.
1966
  • Incorporation of the “General Insurance Association”.
1975
  • Discussions initiated to form the Designated Risks Pool for risks related to taxis and hire vehicles.
1979
  • Approval granted for the transfer of assets and liabilities to PIAM
  • Launch of the Unplaced Motor Pool, managed by PIAM and underwriters, to cover motor risks for which insurance was not readily available in the traditional market.
1983
  • The Insurance (Amendment) Act 1983 was passed by Parliament, enabling PIAM to take on a more active role.
  • Introduction of the official PIAM logo.
1984
  • PIAM Secretariat relocated to Wisma PIAM, Brickfields, Kuala Lumpur.
1985
  • Signing of the Inter-Company Agreement on enforcement of fire tariffs.
1989
  • Expansion of the Unplaced Motor Pool to Sabah and Sarawak.
1992
  • Launch of the High-Risk Motor Insurance Pool, an extension of the Unplaced Motor Pool (UMP), administered by the Malaysia Motor Insurance Pool (MMIP).
1996
  • Introduction of the PIAM Scholarship to promote careers in general insurance.
1998
  • Formation of the Malaysia Insurance Rating Organisation (MIROS).
  • Official book launch: “The Insurance Industry of Malaysia: A Study in Regulation and Development”.
2001
  • PIAM refreshes its brand and launches its corporate website.
2003
  • Launch of “Insurance Info” by Tan Sri Dr Zeti Akhtar Aziz, former Governor of Bank Negara Malaysia.
2005
  • Launch of “Better Safe Than Sorry” by Dato’ Mustafa bin Abdullah, former OCP, Polis Diraja Malaysia.
  • Introduction of the Online Agent Registration System (OARS).
2007
  • Establishment of the Vehicle Theft Reduction Council of Malaysia (VTREC).
2011
  • Amendment to PIAM’s Constitution allowing all members eligibility for election to the Management Committee.
2012
  • Enactment of the Competition Act 2010.
2013
  • Launch of PIAM’s second historical book: “A Matter of Risk”.
  • Launch of the Accident Assist Call Centre for accident and breakdown assistance.
2014
  • Launch of the PIAM Approved Repairer Scheme (PARS) portal.
2015
  • PIAM refreshes its brand identity.
  • Launch of the GIIFT programme for talent development.
2017
  • Signing of an MoU with MIROS.
  • Industry-wide participation in developing insurance products for underserved segments under the Perlindungan Tenang initiative
2018
  • Engagement with the Malaysian Government on e-hailing insurance.
2020
  • PIAM contributes RM2 million to the industry-wide COVID-19 Test Fund (CTF).
2021
  • Launch of the National Perlindungan Tenang Voucher (PTV) programme, aimed at boosting social protection for lower-income groups, with more than 1 million vouchers redeemed, totalling over RM55 million.
  • Establishment of the PIAM Flood Relief Fund @ Dec 2021, with RM2.43 million contributed by members to support affected vehicle owners.
2022
  • Continuation of the PTV programme with higher-value voucher protection, benefitting over 8.1 million Malaysians.
  • Launch of the national road safety campaign: #SteadyBrader and #Safety Starts with S but Begins with U.
2023
  • Launch of a consumer education programme to assist customers in navigating their motor claims journey.
2024
  • Announcement of the PARS closure, with full cessation by 31 July 2025.