Local News
Insurers have to advise consumers on the appropriate market value of motor vehicles when the latter purchase comprehensive motor insurance cover for private cars with effect from this month, says Bank Negara Malaysia.
The Market Valuation of a motor vehicle is a rather subjective matter as much depends on the condition of vehicle, sole ownership, the month/year the vehicle is registered (those registered in December would be taken as 1 year old vehicle in January the following month/year), the mileage clocked in, the vehicle licence plate number (which can carry cursed numbers like 444, 4141 etc or auspicious numbers like 1168, 8888, 1688, 1188 etc or even unlucky number like 9248)
How can this valuation exercise be effectively implemented by the Insurers? Let us wait and see.
Regional News
Singapore: 100% surge in bancassurance premium drives life sector's 1H growth
Singapore's life insurance industry registered a total of S$941.5 million (US$777.6 million) in weighted new business premiums for the first half of 2011, a 38% growth over the same period last year. New business weighted premium from bancassurance surged an impressive 100% from $161 million in the first half of 2010 to record $322 million, according to the Life Insurance Association (LIA) of Singapore.
Thailand: Toyota Vios the most insured vehicle
Among 50 car models, the Toyota Vios was the most insured automobile in Thailand at 762,297 units, drawing more than THB10 billion (US$336 million) in premium income for the industry between 2005 and 2009, according to data from the Insurance Premium Rating Bureau (IPRB).
Saturday, August 6, 2011
Wednesday, August 3, 2011
Australia: Most insurers yet to capitalise on mobile phone technology
Surprised surprised.
Most Australian insurers are yet to offer any mobile applications for their employees,
customers, agents or brokers despite the fact that the country is one of the world's
most mature mobile markets, with 17% of Australians using their mobile-connected
devices to search for and make decisions about insurance.
Source: Asia Insurance Review 1.8.2011
Most Australian insurers are yet to offer any mobile applications for their employees,
customers, agents or brokers despite the fact that the country is one of the world's
most mature mobile markets, with 17% of Australians using their mobile-connected
devices to search for and make decisions about insurance.
Source: Asia Insurance Review 1.8.2011
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