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How is the Risk Profile Assessed on the Basis of Individual Risk Factors?

August 9, 2018 | Author: | Posted in Insurance

Risk assessment is one of the primary tasks to be performed by insurers. Also, known as underwriting, it is a detailed methodology which helps the insurer in evaluating and assessing the risk associated with the insurance policy. The main purpose of the assessment is the calculation of the correct premium amount for the insured. The …

Malaysian Insurance Industry Needs More Improvement for Better Growth

March 29, 2018 | Author: | Posted in Insurance

The insurance sector of Malaysia has a long way to go to achieve a 75% penetration rate by 2020. Bank Negara Malaysia (BNM) believes that the insurance industry needs to more improvement to strengthen market participation and encourage better development of the sector. Last year in July, the central bank announced the phased liberalisation of …

Motor Insurance Dominates the Insurance Industry in Malaysia

March 1, 2018 | Author: | Posted in Insurance

The insurance sector is one of the most important growth drivers of the financial services sector in Malaysia. The insurance sector contributes about 20.9 percent to Malaysia’s total gross national income (GNI) in 2016. The country’s insurance industry is now going through one of its most significant transformation, after remaining stagnant for the last few years. Motor insurance, the largest …

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