Gurdev Kaur
Distinguished EXCO Members, CEOs of Insurance Companies, members of the Secretariat, Fellow Members, Ladies & Gentlemen.
We are delighted to welcome you to our 20th Annual General Meeting of The National Insurance Claims Society (NICS) for the Term 2018/19. The last EXCO meeting was held on the 23 January 2019 ending the 2018/19 Term.
It has been an eventful 2018/19 Term. Before we usher in the New Term of 2019/2020, let’s flash back some events and programs that the Society had offered and organized for the Members throughout the outgoing term.
- 12 General Insurers
- 3 Life Insurers
- 2 Composite Insurer
- 3 Takaful Operators
- 3 Reinsurance Companies
The Society will continue its efforts to promote and welcome more Members from the industry. It will also provide networking opportunities for wider knowledge-sharing and could also accelerate information exchange within the insurance fraternity.
- Education & Training, Headed by Ms Janet Miranda from Liberty Insurance
- Networking & Special Project, Headed by Mr Philip Chin from Great Eastern General Insurance and En Muhd Azlan from Etiqa General Takaful Insurance
- Best Practices & Anti-Fraud, Headed by Pn Mashayu from Takaful Ikhlas & Ms Koh Yan Yie from RHB Insurance
Special Applause to all the named Sub-Committees and the Heads for their time, commitment and dedication throughout the expiring term.
- Insurance Fraud in PA & Life Claims
- PDPA in Relation to the Insurance Industry
- The Impact to the Insurance Industry in view of the Proposed Amendments to the Civil Law Act 1956 (Act 67)
- Transfer of Interest and Declaration & Interveners for Transfer of Interest Cases – Motor
- Bankers Insurance, Property Insurance and Shipping & Logistic Liability Insurance
- Challenges In Fraud Investigation
- Insurance Fraud And Investigation
- How Forensic Can Assist In Motor & Non-Motor and How The Evidence be Used in Court
- Quantifying Loss Of Future Earnings Claims
- Road Traffic Accident Claims In Singapore – Some Observations
- Marine Insurance – Current Developments & The Challenges Faced by the Insurance Industry
To this effect, we commend Education and Training Sub-Committee for being very active, effective and delivered a meaningful range of related topics for the benefit of its members.
Besides offering the claim industry in general and member companies in particular specialized educational services, one of NICS objectives was also to enhance opportunities and provide a valuable platform for networking for the insurance industry.
The Society intended to develop working relationships and business rapport with individuals, companies, authorities or any party of relevance. Over the past and current expiring terms, NICS had brought many individuals together at informative and networking events.
We achieve this by arranging networking cum educational visit to:
- Proton Plant at Shah Alam – Objectives achieved:
- This visitation enabled our Participants to gain further understanding with regards to the operations of an assembly plant as well as to have a better overview as to the construction make-up of a car and all aspects of investigation from the experts.
- Robotic Surgery at Sunway Medical Centre – Objectives achieved:
- This visitation enabled our participants to gain an understanding to the functionality of Robotic Surgery and the situations/procedures that the Robotic Surgery can be applicable.
- Participants also benefited from getting a better overview on why Robotic Surgery is recommended compared to Conventional Surgery done by human surgeons.
- In addition, participants were able to compare the advantages / complications of Robotic Surgery and other related information on Robotic Surgery that would be useful for Insurance company’s knowledge.
- Jabatan Bomba & Penyelamat at Putrajaya – Objectives achieved:
- This visitation enabled our Participants to gain further understanding with regards to the operations as the Insurance fraternity is closely linked to cases of investigation and claims on related fire, accident, death and other losses. It also serves to have a better overview in all aspects of investigation from the experts.
A special appreciation to the Networking Sub-Committee for co-ordinating and making these visitations successful.
- Sharing Session on the Observation on Current Trends & some Case Studies by Pn Shahariah from Ombudsman for Financial Services (OFS)
- “Some Observations on Fraud Trends In TPBI Claims Today” by Mr Manogaran from MMIP Services
- Insuretech Redefines the Future of Claims by Pn Norfidah from Malaysian Reinsurance
- Sharing Session: How do we manage the substantial increase of judgment award for Motor Third Party Bodily Injuries? by Mr Patrick Wong from AXA Affin General Insurance
This Claims Managers Meet was also initiated to target on rapport building among Claims Managers of member companies in order to promote an atmosphere of camaraderie and fellowship. This was fully sponsored by NICS as a token of appreciation to all member companies who had been supporting NICS activities throughout the year.
Towards this aim, the Claims Managers Meet was conducted on half yearly basis jointly by the Best Practice and Anti-Fraud Sub-Committee, followed by a networking Hi-tea session.
I would like to extend my special appreciation on behalf the Society to Great Eastern General and Malaysian Re for allowing to use their training rooms/auditorium on complimentary basis for this Term.
Our gratitude also always goes to Ms Nancy and Ms Neethya from the Secretariat under the guidance of Dato’ N K Jasani who has relentlessly pursued the Society’s objectives together with us.