Malaysia Insurance Online

Claim lessons in Chinese tea leaves

malaysiainsurance (online) — Sun, 22 Aug 2010 13:11:46 +0000

Is it really very difficult when coming to the subject of determining the value of tea leaves? What about determining the types and grade of those leaves after a loss incident? How can we recognise tea leaves of higher grade or value from those that are lower in range? What is the difference between the method(s) used in determining the value of wine and those of tea leaves? WHAT IS EXACTLY DIFFICULT? Tea leaves, gram-for-gram or grade-for-grade, they vary in prices by one or two orders of magnitude and ordinary people, even Chinese folks have difficulty telling the difference. Of course, we do have Chinese tea experts who can tell teas apart, in the same way that wine connoisseurs can, but in any wine claim dispute it is relatively easy to find an expert willing to pontificate in a court. On the other hand when dealing with any tea leaves claim dispute, a mere mention of the word courts to the Chinese equivalent will quickly end the conversation. Even if the experts are willing to do so for the monetary gratification, it is still not so simple – courts normally look towards academic and various high level achievement in research [...] Related posts:

Who stole my No Claim Discounts meant for my Trailer? Whenever I met up with agents nowadays, they never failed to complain over decisions that were adopted by the industry recently. Of course, mandatory direct rebate and refusal to...
ISM – ABI, a market-valuation connectivity in the waiting? After Kurnia and ISM announced the ISM – ABI system’s MARKET VALUATION tie-up, which involve integrating Kurnia’s front-end point-of-sales system with ISM – ABI system,...

The advantage of Death & Pension annuities

malaysiainsurance (online) — Wed, 18 Aug 2010 16:28:04 +0000

Malaysian normally do not think much about annuities, not to mention buying one for their golden years. There are better investment options than investing in an annuity just for the sake of living too long! Some seemingly dull topic here…. but our GUEST BLOGGER and California-based financial advisor, Ms. Sharon Smith think otherwise. Read her stuff to get a better feel of what’s DEATH & PENSION ANNUITIES: California-based Guest writer, Sharon Smith Annuities are agreements between the investor and the insurance companies. The person receiving the annuity payment is known as the annuitant. Apart from the annuitant, a beneficiary is also named as a nominee in the agreement. A death & pension annuity benefit is different from that of other annuity benefits. It is received by the beneficiary if the owner dies before the full payment of the agreement amount. Annuities can be fixed as well as deferred. If you go for fixed immediate annuity, you would start receiving returns almost immediately. In case the annuitant dies before the full payment, the beneficiary receives the rest of the amount. In case of deferred annuity, the payment is not received immediately. The payment is received on a specific date as mentioned [...] Related posts:

Say NO to Motor third party bodily injury and death liability limit of RM2 million….. The deadline for submitting your protest or suggestions or even arguments over the proposed TPBID mandatory (Newco) scheme is already over. The government has decided,...

Passenger liability: Your kids are not covered…….

malaysiainsurance (online) — Tue, 17 Aug 2010 16:12:47 +0000

What is passenger liability cover in your private vehicle insurance policy? It simply means coverage for you in the event your passenger(s) sue you or your authorised driver for having driven the car negligently, resulting in bodily injury, death or property damage. Passenger liability is therefore also known as legal liability to passengers. Simple as it sounds, but lets examine the main section of the policy wordings that deal with passenger liability. SECTION B – LIABILITY TO THIRD PARTIES 1. We will indemnify You or Your authorized driver for the amount which You or Your authorized driver are legally liable to pay (including claimants’costs and expenses) for:- (a) death or bodily injury to any person except those specifically excluded under Exceptions to Section B, (b) damage to property as a result of an accident arising out of the use of Your Vehicle provided Your authorised driver also complies with all the terms and conditions of the policy that You are subject to. Firstly, take a look at SECTION B of your motor insurance policy, which specifically deals with your potential liability to third parties, which, they can be your passengers. We have outlined the relevant sub-section 1 in the diagram. [...] Related posts:

Say NO to Motor third party bodily injury and death liability limit of RM2 million….. The deadline for submitting your protest or suggestions or even arguments over the proposed TPBID mandatory (Newco) scheme is already over. The government has decided,...
The National Third-Party Bodily Injury Liability Scheme…. jumping the gun or what? I made a very fast, off the cuff comment to a question posted by my reader on the 6 March. After having a coffee, chit-chat...
Driving your Motor Vehicle into Singapore? It is an offence to enter Singapore without extending passenger-liability cover to your existing motor insurance policy. In Singapore passenger-liability cover is compulsory but Malaysian...

Insurance Sales – there are only 3 reasons why people buy

malaysiainsurance (online) — Thu, 12 Aug 2010 15:17:45 +0000

In reality, there are just about three reasons why people choose to buy from you…. to make money, to save money, or to reduce pain and frustration. Your job as an agent or marketeer is to figure out which one of those reasons the person on the other side of the table is considering buying your product or service. Your role then becomes a dance to persuade them that your product or service will accomplish their goals. In a book “Ten Deadly Mistakes You Should Avoid” it is not difficult to identify core reasons are simply: People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions, and help them throw rocks at their enemies. Once you have figured out the core reasons why someone is considering your product or service your next step will be to figure out the trigger points at which their decision will be made. (Special thanks to Scott Scanion) Copyright secured by Digiprove © 2010 var wordpress_toolbar_urls = ["http:\/\/api.tweetmeme.com\/share?url=http%3A%2F%2Fwww.malaysiainsurance.info%2F%3Fp%3D4026","http:\/\/www.onlineprofits.com\/230-0-1-22.html","http:\/\/networkedblogs.com\/6149S","http:\/\/www.digiprove.com\/show_certificate.aspx?id=P38807"];var wordpress_toolbar_url = "http://www.malaysiainsurance.info/wp-content/plugins/wordpress-toolbar/toolbar.php";var wordpress_toolbar_oinw = "oinw";var wordpress_toolbar_hash = "aHR0cDovL3d3dy5tYWxheXNpYWluc3VyYW5jZS5pbmZvLz9wPTQwMjY8d3B0Yj5JbnN1cmFuY2UgU2FsZXMgJiM4MjExOyB0aGVyZSBhcmUgb25seSAzIHJlYXNvbnMgd2h5IHBlb3BsZSBidXk8d3B0Yj5odHRwOi8vd3d3Lm1hbGF5c2lhaW5zdXJhbmNlLmluZm88d3B0Yj5NYWxheXNpYSBJbnN1cmFuY2UgT25saW5l"; Related posts:Motor Insurance…. can make profits with so many unnecessary accidents? Today and Yesterday… learned (or rather forced to) some [...] Related posts:

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...
Is there really FREE Insurance? And who is paying for it? Some mainstream news portals recently reported FREE Insurance available to customers….. I just can’t help thinking, “Is there such a thing called FREE Insurance?” Just...
Healthbase Prescribes Medical Tourism Ensuring Good Healthcare for Americans at All Insurance Levels Michael Moore's latest movie, SiCKO, makes clear the present healthcare scene in America. In such a situation, international healthcare providers help Americans by providing them...

Setting up an extensive branch network to expand business?

malaysiainsurance (online) — Sun, 08 Aug 2010 07:30:24 +0000

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 has become rather difficult. In the mid 1990s, most insurers worked tactically along simple analogy of opening more branches nationwide in order to extend its reach. In fact, this remained the most important strategy adopted in growing business reach and network. But, what were those problems faced or continued to be faced? “With Motor being a predominant portfolio of most branches, it is time to reinvent the setup along a low cost operation framework…” The following, perhaps best reflects the issues of a brick-and-mortar branches….. VARIETIES OF PROBLEM FACED…… 1. A question of which is which…. finding the branch manager first or setting up the branch based on a strategic plan? More than often it was about the branch manager first, who would have made enough “dollar and sense” promises before the management is certain of its viability over the mid-term. 2. After getting the right manager, then what else? You would continue to get staffing problems and issues pertaining to [...] Related posts:

Project Malaysia internet-Insurance Agency Network…. New breath for agents? I must be quite a relieved man, having spent the last 5 days single handedly (with bare hands) got the prototype site for Project –...
Open Web Asia 2010: Bits and Bytes of Web Tech for the Insurance industry Open Web Asia, 13 & 14 July was some eye-opener for those who are not a techie or a geek… anyway there are not that...
MyEG Services in “www.myeg.com.my” insurance venture, a path less travelled… 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...

All Online wannabes… to register or not with Companies Commission of Malaysia (SSM)?

vkliew — Sun, 01 Aug 2010 07:02:00 +0000

Last week the Malaysian dailies reported that all online (eCommerce) businesses must be registered with the Companies Commission of Malaysia (or SSM in Bahasa Malaysia)? The dailies further reported that more than 400 online businessmen are being charged in court for not registering their online business. [via TheStar] …they were charged under Section 12 (1) (a) of the Registration of Businesses Act 1956 (Amendment 2001) which carries a fine of up to RM50,000 or imprisonment not exceeding two years. CAUGHT OFF GUARD! I think the community of online entrepreneurs, both part-timers and full-timers alike were caught off guard. I can agree that every businesses should be registered, the government must first take cognisant of the fact that most online businesses are merely trying out or they are just small timers as well as part timers. Simply says, there are so many online-seller-wannabes around us. They made a simple site on free hosting, like on blogger.com, wordpress.com, or even marketplace in facebook, and post a few products with a hope of seeing some miracles. That’s it! But by definition of the Act, they are deemed to have a so-called “Online or e-commerce” site! MAKE MONEY WITH ADSENSE, NUFFNANG….. What about those [...] Related posts:

Insurance Agent Websites – How to Take Your Agency Online Smart insurance agents understand that having a well-designed insurance agent website is critical to succeeding as an insurance agent today. But how does an agent...
Project Malaysia internet-Insurance Agency Network…. New breath for agents? I must be quite a relieved man, having spent the last 5 days single handedly (with bare hands) got the prototype site for Project –...
Pos Malaysia to dispense Motor Insurance for Malaysia Motor Pool I am not sure whether this is going to be a reality, ie. the Malaysia Motor Insurance Pool (MMIP) has appointed POS Malaysia to help issue...

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

malaysiainsurance (online) — Tue, 27 Jul 2010 15:31:29 +0000

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 [...] Related posts:

The New Motor Insurance Cover – taking a glimpse…….. Judging from the many hits to my previous postings relevant to this topic – 408 hits to blog posting: Difficult buying your Motor Insurance? Try...
Pushing Malaysian Motor Insurance Pool (MMIP) to the limit…. If your corporation is operating a reasonable large fleet of buses, would you consider just buying all the third party insurance policies from Malaysian Motor...
A middle finger too stiff… more decisions too self-serving! The Malaysian newspapers reported some ROAD RAGE.… Mr. Beh, 43, a forwarding clerk nudged into the vehicle belonging to Mr. Lim, 52. He drove off...

Malaysian Insurance Industry… Will Technology takes the driving seat?

malaysiainsurance (online) — Sat, 24 Jul 2010 17:18:18 +0000

Today, I happened to drop by a Massachusetts Institute of Technology (MIT) Lecture Series where visiting Prof. Srini Devadas gave a lecture on IT in the year 2020 – Building COLLECTIVE INTELLIGENCE. How real…. Internet has to a large extent change the way we go about our lives. And certainly, it is expected to evolve much more vigorously over the next 10 years. Where does this leads us? Can the human race be able to make good sense of this inherent development? The good professor felt this should not be a problem for the human race. But the most important is whether we are able to attain a much higher level of collective intelligence. WHAT IS THIS THING CALLED COLLECTIVE INTELLIGENCE? Suffice if we just focus on the phrase, “We just want to be smarter together!” How well we work together, and how coherent the result is. If we work together in ways that maximize synergy, where things fit well together, and we accomplish more together than apart, then Competitive Intelligent achieved can be much higher. In order for us to get there… Prof. Srini felt we need to push into the development of these two major areas: Technological network [...] Related posts:

Open Web Asia 2010: Bits and Bytes of Web Tech for the Insurance industry Open Web Asia, 13 & 14 July was some eye-opener for those who are not a techie or a geek… anyway there are not that...
Kuala Lumpur Community Policing – Counting on the insurance industry? It is Christmas again.... but this time I am only asking you to help me reduce crimes in the city, so I am expecting you...
Blogging is So Yesterday, Right? Blogs are a way of exporting your site's content and message to an audience beyond traditional search. Creating a quick blog post and clicking Publish...

Open Web Asia 2010: Bits and Bytes of Web Tech for the Insurance industry

malaysiainsurance (online) — Sun, 18 Jul 2010 17:26:37 +0000

Open Web Asia, 13 & 14 July was some eye-opener for those who are not a techie or a geek… anyway there are not that many non-techies or geekies around either. In summary, the topics discussed were divided into three main tracks: The 2010 OpenWeb Asia schedule Forum on growing Digital in Asia – Overview of Asia Web Industry Forum on the state of Venture Funds in Asia TRACKS Venture Capital & Funding Social Media Developer & Technology MSC Malaysia InnoTech VC Pitching – 20 Pitch Eye-to-Eye sessions with Venture Capitalists Future of Digital Media The Asia Digital Platform Malaysia Digital Enterprise Exchange (MDEX) – internet based platform for SMEs The Power of Cloud Google Cloud – open for business Cloud Computing – Good, Bad and the Ugly Government, Economy & Web Mash-up through connected Web Architecture Reaching out to the millions Online Agile and High speed development What’s happening in China? Social Web is better when it’s Open Opportunities on the SMALL SCREEN Mobile OS – Android vs iPhone India’s Web Enterprise HTML 5 Social Eruption Implementing location based Apps JobStreet Experience – Delivering Strategic business values & business impact of Web implementation Power of Geo-Location Services Forum on This [...] Related posts:

Malaysian Insurance Industry… Will Technology takes the driving seat? Today, I happened to drop by a Massachusetts Institute of Technology (MIT) Lecture Series where visiting Prof. Srini Devadas gave a lecture on IT in...
Setting up an extensive branch network to expand business? 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...
A little bit and there on insurance-eCommerce under the Breeze…. Hi… I am now in the land below the wind – that’s Sabah, the place I “screwed” (not screwed up though…) for almost 17 years!...

Munich RE buying over Paul, the OCTOPUS oracle?

malaysiainsurance (online) — Thu, 08 Jul 2010 16:39:06 +0000

It is World Cup Football… but attention is now on Paul, the eight-legged oracle. This octopus had successfully predicted the outcomes of all six of Germany’s games in South Africa, and this including picking Spain as the winner over Germany in the recent semi-final game. In the last European Football Championship, two years ago Paul was also magnificent with his prediction (almost though) getting four out of five predictions correct on matches played by Germany.The only missed prediction then was also related to Spain versus Germany, where he also selected Spain, but Germany won…. This time, he really got it all correct! No one knows how he did it, but for a while it made him the most popular invertebrate in Germany, stealing headlines even from the coalition government. But as a result, every other Germans are now going after his blood and wanted to have him for lunch! Calls for killing Paul the Octopus have already begun in Germany, for predicting Germany’s loss to Spain correctly. I just hope, Germans turn vegetarians for a while. Is Munich Re buying over to prevent the octopussy from being kidnapped and killed? Perhaps at the same time appoint him as Chief Catastrophe [...] No related posts.

No Claims Discount online – A connectivity-controls issue….

vkliew — Sun, 04 Jul 2010 15:44:24 +0000

On 1st July 2010, the nation’s No Claims Discounting (or NCD in short) system has finally gone online. Despite all the grumblings, howlings and discontentment over the forced implementation among various stakeholders, things seemed rather quiet – perhaps for the real grouses and the complaints to move up the complain-channels, this would surely takes time. And two days after implementation…. the weekend came along may have also camouflaged alot of things…… nuffnang_bid = "9a0905e2b6e94a043e9ecef2cee0c6f4"; Notably most insurers / takaful operators did put in various CONTINGENCY related options in anticipation of any untoward incidence that may arise during and after the implementation date. In this context, we think it is appropriate to discuss some of the CONNECTIVITY-CONTROLS issues at the front-end point-of-sales (PoS) system. The following are FOUR main options that stakeholders could take as these are made available by some of the GATEWAY PROVIDERS…. The controls made available at the front-end Point-of-Sales (PoS) Full Control – This simply means the PoS system is set for total compliant with the ISM – NCD standard operating procedure Partial Control – meaning the users at the PoS are able to change the % of NCD whenever prescribed error codes appeared during the confirmation [...] Related posts:

The new No Claims Discount (NCD) Mantra This may or may not be good news for all…. When ISM-NCD system was implemented in 2007, the operating framework was nothing but on a...
The New Motor No Claims Discount (NCD) practices – Consumers gain, Insurers leak? The date, 1st July 2010 will mark another day for a major change to a long established Motor insurance practice…. this time is about the...
ISM – ABI, a market-valuation connectivity in the waiting? After Kurnia and ISM announced the ISM – ABI system’s MARKET VALUATION tie-up, which involve integrating Kurnia’s front-end point-of-sales system with ISM – ABI system,...

The New Motor No Claims Discount (NCD) practices – Consumers gain, Insurers leak?

malaysiainsurance (online) — Sat, 26 Jun 2010 06:18:00 +0000

The date, 1st July 2010 will mark another day for a major change to a long established Motor insurance practice…. this time is about the manner the No Claims Discount (or NCD) is to be confirmed. We expect some rough moments ahead as we viewed this new confirmation procedure as being haphazardly handled…. but hopefully not! Was this the reason why the implementation is made to coincide with the day when increase (from current 5% to 10%) in the mandatory discounting for direct motor insurance purchases takes effect? The public if indeed they did face problems with their NCD confirmation, there is still a sweetener to those bad memories! WHAT IS NCD? Any motor vehicle owners should know what NCD is all about. It is about discount given to policyholder (or registered owner) on renewal if the motor vehicle did not incur any insurance (result of own fault) claims on the previous policy. The percentage of discount allowed would increase over each policy renewal in the absence of any claim made on the policies…. subject to a maximum as prescribed in the policy wording (tariff format). The following are an illustration as to the range NCD and entitlements: No-Claims-Discount – [...] Related posts:

No Claims Discount online – A connectivity-controls issue…. On 1st July 2010, the nation’s No Claims Discounting (or NCD in short) system has finally gone online. Despite all the grumblings, howlings and discontentment...
The new No Claims Discount (NCD) Mantra This may or may not be good news for all…. When ISM-NCD system was implemented in 2007, the operating framework was nothing but on a...
Motor Insurance Direct Discount – time for agents to reinvent In 2009, the Malaysian non-life insurance industry had resolved to provide MANDATORY discount on all motor insurance purchased directly from the insurers – the scheme...

Motor Insurance Direct Discount – time for agents to reinvent

malaysiainsurance (online) — Sat, 19 Jun 2010 12:45:10 +0000

In 2009, the Malaysian non-life insurance industry had resolved to provide MANDATORY discount on all motor insurance purchased directly from the insurers – the scheme of discounting was such that it would be 5% for the first year of implementation and thereafter at 10%. Thus, come 1st July 2010 and onwards all Malaysian non-life insurance companies would have to allow 10% discount to all INDIVIDUAL customers BUYING MOTOR INSURANCE DIRECT with them. This means the discount on gross premium after No-Claim-Discount (NCD) would be increased to 10% from the current 5%. You can click below to read the full explanation on the discounting mechanism. Direct Motor Rebating – How does this works? GOOD NEWS AMIDST ESCALATING PRICES OF ESSENTIAL GOODS…….. This is good news for the insuring public but the customers must fulfill certain conditions in order to enjoy the 10% full discount. What is deemed DIRECT PURCHASE and category of CUSTOMER falling within its ambit? He or She must be an individual (..and that’s a fact) and the Insured, and He or She would need to deal directly with the insurer himself or herself (in person) and not relying on some other party unless the purchase is in respect [...] Related posts:

Direct MOTOR Rebating – How does this works? 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...
How agents are preparing for the motor mandatory rebate….. The last time I wrote, the main issue is on PIAM trying to either delete clause 5.3 of the Inter-company agreement on General Insurance Business...
The growing pains of direct premium rebating…. Today the final blow was delivered where the word “members” of Clause 5.3 Inter-Company Agreement (ICA) was deleted after unanimously agreed upon. This means agents...

Traffic to Blog – 5 Fun and Fast Ways to Drive Traffic to a New Blog Within 24 Hours

Colleen Slater — Sun, 13 Jun 2010 14:02:50 +0000

Getting traffic to a brand new blog is a lot easier than you think. This blogging article will explain how to drive traffic to a brand new blog in its first 24 hours. Related posts:

Blogging is So Yesterday, Right? Blogs are a way of exporting your site's content and message to an audience beyond traditional search. Creating a quick blog post and clicking Publish...
Advertising on Facebook Imagine the insurance industry utilising Facebook as a method of niche marketing. But unfortunately none in existing times! Are we missing out on a great...
An Anniversary of Web-creations and World Cups worth remembering….. Just got through another year of cyber-rendezvous, and if my memory could still takes me back to the days of 1997 I am sure I would...

An Anniversary of Web-creations and World Cups worth remembering…..

malaysiainsurance (online) — Fri, 11 Jun 2010 11:15:55 +0000

Just got through another year of cyber-rendezvous, and if my memory could still takes me back to the days of 1997 I am sure I would be able to remember the day when I first created a website. The purpose then was about connectivity and to recreate those friendships and happy moments gained while at the Insurance School of Japan (ISJ), class of 1997. Vividly, those were the days of tripod and geocities…. platforms which I utilised in a first-hand feel of the cyber-world. I gave up when the 1998 Football World Cup started (I could still remember Ricky Martin singing the world cup theme then)…. and by now I would have felt I should not have abandoned what I had started. I actually regretted for not having gone further if you had seen how Jack Ma of the fame Alibaba.com having gone through those rough and difficult patches of the dotcom. The rest was history – Jack Ma made it when I was still drinking and blowing up both my mind and liver in the pubs, and gambling away as the World Cup games progress. For a moment… I could have made those successes of YouTube with my ISJ web-Portal site! Boy… was I dreaming? BLAME IT [...] Related posts:

Traffic to Blog – 5 Fun and Fast Ways to Drive Traffic to a New Blog Within 24 Hours Getting traffic to a brand new blog is a lot easier than you think. This blogging article will explain how to drive traffic to a...
Blogging is So Yesterday, Right? Blogs are a way of exporting your site's content and message to an audience beyond traditional search. Creating a quick blog post and clicking Publish...
All Online wannabes… to register or not with Companies Commission of Malaysia (SSM)? Last week the Malaysian dailies reported that all online (eCommerce) businesses must be registered with the Companies Commission of Malaysia (or SSM in Bahasa Malaysia)?...

Trading, wagering, betting, gambling…. an All-in-one-Underwriting

vkliew - blogging from land below the wind — Tue, 08 Jun 2010 16:37:17 +0000

In essence the underwriting process is nothing more than a business game of risk-to-premium trading – where clients trade with the insurers to have their risk of a loss transferred to the latter with the latter getting a premium in return. This trading process is heavily dependent on ability and capability of the clients – if the clients are more capable or have an upper hand (ie. engaging expert intermediaries like a trained agent or an insurance broker) in this trading process, the deals governing those risk-transfers would most likely end in favour of the clients, otherwise insurers would have the upper hand. // < ![CDATA[ smowtion_size = "468x60"; smowtion_section = "1169131"; // ]]> However, trading environment could cause a downside for this risks transferring mechanism if on a per risk basis or with a particular portfolio having suffered a higher than normal or deteriorating loss ratio for the insurers. The result of this is the hardening of rates or clients having had to pay a higher premium than the previous year. On the contrary, rates may decline or softened over time if insurers were still able to earn their underwriting margin or perhaps, investment climate is still conducive for [...] Related posts:

Underwriting the Risk-Karma I have always wanted to pen something really unconventional… compensating for my equally weird, quacky, quirky life…. I have managed to search out one of...
Punching holes through the Underwriting Guide Underwriting Guides are put in place to assist users to discharge their day-to-day underwriting functions that they were authorised to handle. It amazes you as...
More Capital or More Reinsurance? CAPITAL and REINSURANCE, what to write for layman in a freestyle blogging competition? Insurance companies are risks carriers – they take the risks belonging to...

Organization Behavior – Navigating the Seven C’s of Corporate Culture Change

John W. Wright III — Sun, 06 Jun 2010 12:55:23 +0000

If you are in any leadership capacity within any organizational structure, it behooves you to have at least a cursory understanding of Organization Behavior tenets. In other places it may be referred to Industrial Psychology or other such terms, but they all refer to how an organization behaves both in a macro and micro level. How people react individually within company settings, how people interact with one another, and how the company as a whole reacts, are all components involved in the studies of Organizational Behavior. Related posts:

Underwrite with The Corporate Governance Index The corporate Governance Index (CGI) was launched on Tuesday by both the Minority Shareholder Watchdog Group (MSWG) and Bursa Malaysia. The objective is to provide...

Blogging is So Yesterday, Right?

Ian Huckabee — Thu, 03 Jun 2010 15:27:03 +0000

Blogs are a way of exporting your site's content and message to an audience beyond traditional search. Creating a quick blog post and clicking Publish can instantly update several of your social media accounts while at the same time adding new content to your site, which keeps the search engines happy. Related posts:

Traffic to Blog – 5 Fun and Fast Ways to Drive Traffic to a New Blog Within 24 Hours Getting traffic to a brand new blog is a lot easier than you think. This blogging article will explain how to drive traffic to a...
An Anniversary of Web-creations and World Cups worth remembering….. Just got through another year of cyber-rendezvous, and if my memory could still takes me back to the days of 1997 I am sure I would...
Open Web Asia 2010: Bits and Bytes of Web Tech for the Insurance industry Open Web Asia, 13 & 14 July was some eye-opener for those who are not a techie or a geek… anyway there are not that...

Healthbase Prescribes Medical Tourism Ensuring Good Healthcare for Americans at All Insurance Levels

Mumtaz Pachisa — Mon, 31 May 2010 17:21:44 +0000

Michael Moore's latest movie, SiCKO, makes clear the present healthcare scene in America. In such a situation, international healthcare providers help Americans by providing them the healthcare they need at affordable costs. Medical tourism, as the practice is called, benefits not only uninsured and underinsured Americans but insured Americans as well. Healthbase offers help to patients going overseas for surgery by saving them money and making accessible services not covered by their insurer. Related posts:

AH1N1…. Did the government declare it as a disease requiring quarantine by law? We have written an article titled “The A H1N1 pandemic…. Is your Health Insurance covering you?” back in June 15 this year describing that AH1N1...
The A H1N1 pandemic…. Is your Health Insurance covering you? Generally, all Health Insurance in Malaysia cover pandemics and communicable diseases, save when the persons infected are required by the government to be quarantined. Quarantine...

The new (1/1/2009) Institute Cargo Clauses in a nutshell

malaysiainsurance (online) — Fri, 28 May 2010 16:39:40 +0000

At the beginning of year 2009, the new ICC Clauses became available to the Market after a two-year consultation process. The overall result has been to create clearer policies that are more favourable to the Assured than the previous 1/1/82 version. The clauses have been amended in places in an effort to make the meaning and effect more clearer, such as by simplification of the language and addition of paragraph heading. The following is a summary of some of the more noteworthy changes taken from the new ICC (A) (all risks) clauses (all of the amendments have been carried through to the ICC (B) and (C) clauses), but for full details please refer to the full wordings – link@ (ICC (A) , ICC (B) and ICC (C): Exclusions 1. Insufficiency of Packing or Preparation (Clause 4.3) has been widened and made more favourable to the Assured. Prior to the revisions, loss caused by insufficient packing was not covered. Now the exclusion only applies when the goods are packed by the assured or their employees. The change to this exclusion will of course be of particular relevance in those cases where cargoes are purchased on CFR or FOB terms with insurance [...] Related posts:

Piracy update – Effect of US Executive Order on ransom payment What impact will the new US Executive Order have on piracy in Somalia? (Adapted from an article written on May, 5 by Jai Sharma, director...
Piracy-ransom payments not contrary to public policy and recoverable! The subject of piracy has been the subject of much debate given the numerous hijackings off Somalia and elsewhere over the last 18 months or...