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Insurance Associations to raise awareness of Perlindungan Tenang
Last update: 18/05/2019

LIAM vice-president Rangam Bir

KOTA KINABALU, May 18 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) is collaborating with Bank Negara Malaysia (BNM), the Malaysian Takaful Association (MTA) and the General Insurance Association of Malaysia (PIAM) to raise public awareness of Perlindungan Tenang.

LIAM vice-president Rangam Bir said through the basic protection plans offered under the initiative, Malaysians could protect themselves and their loved ones financially against major risks by contributing a monthly premium of only a few ringgit.

Perlindungan Tenang, a national initiative launched in November 2017 with the support of BNM, saw the three insurance associations offering affordable protection plans targeted at the under-protected bottom 40 per cent (B40) segment. 

“We hope more insurance and takaful providers will offer the affordable protection products to fulfil the people's wants and needs,” he told Bernama in an interview. 

Meanwhile, to improve the industry's service delivery, Rangam said LIAM, PIAM and MTA have engaged Nielsen Malaysia to conduct a customer satisfaction index survey in July and August last year to gauge the customer experience based on the industry's Customer Service Charter (CSC).

“The survey will cover four main areas that the industry should improve in -- raising customer awareness of the CSC, managing their expectations, improving their level of satisfaction, and utilising both the traditional and digital media to draft an effective customer service strategy,” he said.

On a separate matter, Rangam pointed out that LIAM has contributed to the nation's human capital development through its Structured Internship Programme (SIP).

“Since the programme commenced in September 2016, the industry has registered more than 370 students under 10 batches to undergo three- to six-month training at a LIAM member company,” he said.

He said in the near future, LIAM would consider registering students from Sabah to do their internship at branches of LIAM members in the state.

This, he added, would encourage more students from East Malaysia to seek a career in the industry.





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100 Yen3.8596/8635
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
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