2902, 2024

CONSUMERS TO BENEFIT FROM ENHANCED VEHICLE REPAIR STANDARDS IN MALAYSIA

February 29th, 2024|

Kuala Lumpur, 29 February 2024 – The general insurance industry in Malaysia fully supports the development of Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“JSM MS”), anticipated for release by Jabatan Standard Malaysia (“JSM”) in early 2024. Elevating standards and professionalism The JSM MS aims to uplift the quality and professionalism of motor vehicle smash repair workshop services by promoting the adoption of best industry practices. It encompasses [...]

1402, 2024

PIAM AND MTA LAUNCH CONSUMER EDUCATION PROGRAMME TO ENHANCE MOTORIST INSURANCE/TAKAFUL EXPERIENCE

February 14th, 2024|

#JomLevelUp Consumer Education Programme, a commitment to consumer education and empowerment towards the adoption of digital solutions for smoother motor insurance/takaful claims process #ILuvMyRide contest in conjunction with the Chinese New Year celebration to share positive stories about their car or motorcycle rides   Kuala Lumpur, 14 February 2024 - Persatuan Insurans Am Malaysia (“PIAM”) and  Malaysia Takaful Association (“MTA”), together with their respective member companies, in collaboration with Bank [...]

1901, 2024

PIAM BACKS NEW STANDARDS FOR MOTOR VEHICLE REPAIR INDUSTRY IN MALAYSIA

January 19th, 2024|

Kuala Lumpur, 19 January 2024 – Persatuan Insurans Am Malaysia (“PIAM”) looks forward to the upcoming release of the Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“MS”) in the first quarter of this year. The MS is poised to establish new standards for the safe and proper repair of accident-involved motor vehicles. This initiative results from collaborative effort of key stakeholders in the motor accident repair ecosystem including [...]

401, 2024

MALAYSIANS ENCOURAGED TO WEATHER THE STORM WITH FLOOD COVERAGE

January 4th, 2024|

Kuala Lumpur, 4 January 2024 – With persistent torrential rain affecting numerous states in Malaysia, it’s crucial for Malaysians to take immediate measures to protect their property and belongings. This proactive measure is to ensure a faster post-flood recovery. Undoubtedly, among the various disasters in Malaysia, floods are a recurring challenge, especially during monsoon season, causing substantial annual damage. The Special Report on Impact of Floods in Malaysia 2021 issued [...]

1412, 2023

CUSTOMER SATISFACTION SURVEY 2022 REVEALS POSITIVE GROWTH IN THE CUSTOMER SATISFACTION INDEX OF MALAYSIA’S GENERAL INSURANCE INDUSTRY

December 14th, 2023|

Kuala Lumpur, 14 December 2023 - Persatuan Insurans Am Malaysia (PIAM), Malaysian Takaful Association (MTA) and Life Insurance Association of Malaysia (LIAM) in collaboration with Bank Negara Malaysia (BNM), have released the results of the Customer Satisfaction Survey 2022 (CSS 2022). The findings, particularly within the general industry, revealed notable improvement in the Customer Satisfaction Index (CSI) score, rising from 78 points in 2018 to 84 points in 2022. Based [...]

612, 2023

PIAM SUPPORTS A BETTER FUTURE FOR MOTOR VEHICLE REPAIR INDUSTRY IN MALAYSIA

December 6th, 2023|

Kuala Lumpur, 6 December 2023 – Persatuan Insurans Am Malaysia (“PIAM”) is in support of the Ministry of Investment, Trade and Industry’s (“MITI”) proactive initiative in development of Malaysian Standard - Motor Vehicle Aftermarket Smash Repair Requirements (“JSM MS”). Anticipated to be officially launched by Jabatan Standard Malaysia (“JSM”) in early 2024, the JSM MS is poised to elevate the standards and professionalism of motor vehicle smash repair workshop activities [...]

2211, 2023

GENERAL INSURANCE INDUSTRY PREMIUM GREW BY 7.3% AND UNDERWRITING PROFIT REDUCED BY 38% YOY IN 1H2023 AS COMPARED TO 1H2022. DAILY INSURANCE CLAIMS PAYOUT RISES TO RM23M

November 22nd, 2023|

Kuala Lumpur, 22 November 2023 – The general insurance industry has recorded an increase in gross direct premiums of 7.3% to RM10.5 billion for first half of 2023 compared to the corresponding period in the previous year. Despite the positive trajectory, the underwriting profit had experienced a contraction of 37.8%, settling at RM0.5 billion. This decline is largely due to contraction in profitability for Motor and Fire lines of business. [...]

1511, 2023

CUSTOMER SATISFACTION SURVEY UNVEILS POSITIVE TRENDS IN MALAYSIA’S TAKAFUL AND INSURANCE INDUSTRY

November 15th, 2023|

Kuala Lumpur, 15 November 2023 - The Malaysian Takaful Association (MTA), Life Insurance Association of Malaysia (LIAM), and Persatuan Insurans Am Malaysia (PIAM), in collaboration with Bank Negara Malaysia (BNM), have released the findings of the Customer Satisfaction Survey 2022 (CSS 2022). Overall, the survey has shown encouraging trends in the industry, with a notable increase in the Customer Satisfaction Index (CSI) score rising from 80 points in 2018 to [...]

1808, 2023

YOUNG MINDS THRIVE IN GENERAL INSURANCE INTERNSHIP FOR TALENT (GIIFT) PROGRAM

August 18th, 2023|

Kuala Lumpur, 18 August 2023 – Success continues for the General Insurance Internship for Talent (“GIIFT”) program, a program that nurtures young talents and invests in the future of the general insurance industry by shaping the journey of aspiring young professionals. Through this initiative, PIAM has successfully placed a total of 466 interns from various institution for internships since the inception of GIIFT. As seen in the recent intakes in [...]

607, 2023

PHASED LIBERALISATION OF MOTOR AND FIRE TARIFFS PHASE 2 – PIAM AND MTA SUPPORT GRADUAL TRANSITION TO HIGHER QUALITY SERVICES FOR THE BENEFIT OF CONSUMERS

July 6th, 2023|

Kuala Lumpur, 6 July 2023 – All 23 member companies under Persatuan Insurans Am Malaysia (PIAM) and 4 general takaful member companies of Malaysian Takaful Association (MTA) are committed to supporting an orderly and gradual transition to market-based pricing as well as higher service quality as part of the liberalisation of motor and fire tariffs (phase 2) initiatives. With the effectiveness of phase 2, all licensed general conventional insurers and [...]

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