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CHAIRMAN’S REPORT |
Distinguished EXCO Members, CEOs of Insurance Companies, members of the Secretariat, Fellow Members, Ladies & Gentlemen.
We are delighted to welcome you to our 17th Annual General Meeting of The National Insurance Claims Society (NICS) for the term 2015 / 2016. The last EXCO meeting was held on the 26 January 2016 ending the 2015 / 2016 term.
It has been an eventful and remarkable 2015 / 2016 term. Before we usher in the new term of 2016 / 2017, let’s flash back some events and programs that NICS had offered and organized for the members throughout the outgoing term.
We are delighted to welcome you to our 17th Annual General Meeting of The National Insurance Claims Society (NICS) for the term 2015 / 2016. The last EXCO meeting was held on the 26 January 2016 ending the 2015 / 2016 term.
It has been an eventful and remarkable 2015 / 2016 term. Before we usher in the new term of 2016 / 2017, let’s flash back some events and programs that NICS had offered and organized for the members throughout the outgoing term.
MEMBERSHIP
2015 / 2016 remarked the 17th anniversary of this Society. We are proud to announce that since its establishment, the Society has attracted 28 member companies to date, comprising:
2015 / 2016 remarked the 17th anniversary of this Society. We are proud to announce that since its establishment, the Society has attracted 28 member companies to date, comprising:
- 12 general insurers,
- 4 life insurers,
- 4 composite insurers,
- 6 takaful operators
- 2 reinsurance companies.
EXECUTIVE COMMITTEE
NICS Exco members, the driving force of the Society, involved claims professionals from member companies on voluntary basis.
There are 5 sub-committees formed to carry out the Society’s activities, namely:
Since NICS was founded on 15 December 1998, NICS pride itself to be the forefront in fulfilling niche needs of claims industry in providing forum of information exchange and education seminars tailored to the needs of its members comprising of life and general Insurers/Reinsurers as well as takaful operators nationwide.
There are 5 sub-committees formed to carry out the Society’s activities, namely:
- Education & Training headed by Dr Alan Tan Yew Choon from Great Eastern Life Assurance
- Best Practices headed by Mr Shamnath TK from AmGeneral Insurance
- Networking headed by Ms Christina Lim Gek Moi from Malaysian Reinsurance
- Special Project headed by Ms Sharon Wong Shiet Tyug from Tune Insurance
- Anti-Fraud headed by Mr John D’Cruz of MAA Takaful
Since NICS was founded on 15 December 1998, NICS pride itself to be the forefront in fulfilling niche needs of claims industry in providing forum of information exchange and education seminars tailored to the needs of its members comprising of life and general Insurers/Reinsurers as well as takaful operators nationwide.
ACTIVITIES
These education seminars were conducted on a wide range of legal, medical, practical and technical claims related topics presented by experts in their respective fields. Doctors, lawyers, adjusters and forensic experts are some of the professionals who were the distinguished speakers at NICS seminars.
Thus, these educational seminars provided opportunities to keep up with relevant legal changes and developments as well as the current claims trend and claims management. To this effect, we commended Education and Training Sub-Committee for being very active, effective and eventually delivered a meaningful range of related activities for the benefit of the Society and its members.
These education seminars were conducted on a wide range of legal, medical, practical and technical claims related topics presented by experts in their respective fields. Doctors, lawyers, adjusters and forensic experts are some of the professionals who were the distinguished speakers at NICS seminars.
Thus, these educational seminars provided opportunities to keep up with relevant legal changes and developments as well as the current claims trend and claims management. To this effect, we commended Education and Training Sub-Committee for being very active, effective and eventually delivered a meaningful range of related activities for the benefit of the Society and its members.
ACTIVITIES
These diverse array of educational programs included topics such as:
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And regulatory related topics like Data Protection Act and an insightful seminar on IFSA and FSA impact on Personal Accident, Medical and Life claims.
We were delighted to find the Society’s educational activities were well accepted and benefit members. For the record, about 500 participants attended NICS educational programs and sessions throughout this term.
We were delighted to find the Society’s educational activities were well accepted and benefit members. For the record, about 500 participants attended NICS educational programs and sessions throughout this term.
We are glad to note that there was increased members’ awareness that well educated claim professionals are best able to represent their industry’s interests by providing excellent claims services professionally to the customers.
NETWORKING
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 hundreds of individuals together at educational and networking events.
We achieve this by arranging networking cum educational visit to PDRM forensic laboratory and MIROS. These visitations were highly informative and beneficial since we had opportunity for first hand insights of how these 2 entities run their daily operations.
A special appreciation to the Networking Sub-Committee for co-ordinating and making these events successful.
FORUM
Since NICS’s memberships was diverse, we are able to pool claims professionals via the Claims Managers Meet in gaining and sharing their expertise, experiences and technical know-how for the betterment of the industry in various areas of concerned ie.
We felt that it is imperative for the industry to take firm and effective actions to deter, detect and mitigate the risk of fraud especially in such a dynamic and competitive environment. Towards this aim, the Claims Managers Meet was conducted on half yearly basis jointly by the Best Practice and Anti-Fraud Sub-Committees, followed by a networking hi-tea session.
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.
NICS was very pleased to be the common platform and unite these companies to speak the same language especially on fraud claims management.
FORUM
This was highly encouraging and we hope in future NICS would continue to keep up the momentum and strengthen this respectable partnerships.
Behind the scene, we thanked the Best Practice and Anti-Fraud Sub-Committees for their relentless efforts in organizing this event.
NICS also work closely with the insurance industry and realized the importance of communication and understanding the workings of the relevant authorities.
NICS had thus organized an informative session with the Financial Mediation Bureau, which turned out to be a great success. NICS has also always supported industry functions organized by PIAM and MII.
In short, it is indeed a very eventful year for NICS as we had interesting events lined up every month and in some months, we even have conducted 2 events.
SUMMARY
On behalf of NICS, I take this opportunity to record our thanks to our esteemed member companies for their support and contribution during the year. Last but not least, I would like to express my heartfelt gratitude and appreciation for the contribution and services volunteered by all the EXCO members who have done an excellent job in delivering the activities for this term. I hope they can continue to serve the Society and the industry for this new term.
I wish them well in their future undertakings for without them the Society would not be what it is today.
Thank you for your kind attention.
KOH YAN YIE
Chairperson
29th March 2016
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 hundreds of individuals together at educational and networking events.
We achieve this by arranging networking cum educational visit to PDRM forensic laboratory and MIROS. These visitations were highly informative and beneficial since we had opportunity for first hand insights of how these 2 entities run their daily operations.
A special appreciation to the Networking Sub-Committee for co-ordinating and making these events successful.
FORUM
Since NICS’s memberships was diverse, we are able to pool claims professionals via the Claims Managers Meet in gaining and sharing their expertise, experiences and technical know-how for the betterment of the industry in various areas of concerned ie.
- Fraud Claims Management to combat fraud
- Learning industry best practices for processing claims.
We felt that it is imperative for the industry to take firm and effective actions to deter, detect and mitigate the risk of fraud especially in such a dynamic and competitive environment. Towards this aim, the Claims Managers Meet was conducted on half yearly basis jointly by the Best Practice and Anti-Fraud Sub-Committees, followed by a networking hi-tea session.
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.
NICS was very pleased to be the common platform and unite these companies to speak the same language especially on fraud claims management.
FORUM
This was highly encouraging and we hope in future NICS would continue to keep up the momentum and strengthen this respectable partnerships.
Behind the scene, we thanked the Best Practice and Anti-Fraud Sub-Committees for their relentless efforts in organizing this event.
NICS also work closely with the insurance industry and realized the importance of communication and understanding the workings of the relevant authorities.
NICS had thus organized an informative session with the Financial Mediation Bureau, which turned out to be a great success. NICS has also always supported industry functions organized by PIAM and MII.
In short, it is indeed a very eventful year for NICS as we had interesting events lined up every month and in some months, we even have conducted 2 events.
SUMMARY
On behalf of NICS, I take this opportunity to record our thanks to our esteemed member companies for their support and contribution during the year. Last but not least, I would like to express my heartfelt gratitude and appreciation for the contribution and services volunteered by all the EXCO members who have done an excellent job in delivering the activities for this term. I hope they can continue to serve the Society and the industry for this new term.
I wish them well in their future undertakings for without them the Society would not be what it is today.
Thank you for your kind attention.
KOH YAN YIE
Chairperson
29th March 2016
