THE NATIONAL INSURANCE CLAIMS SOCIETY
Distinguished EXCO Members, Fellow Members of Insurance Companies, Members of the Secretariat, Ladies & Gentlemen.
An excellent evening and welcome to our 24th Annual General Meeting of the National Insurance Claims Society (NICS) for the Term 2022/23. The last EXCO meeting was held on 31 January 2023, ending the 2022/23 Term.
Before we usher in the new Term 2023/24, let’s flashback at some events and programs that the Society had offered and organized for the Members throughout the outgoing term.
2022/23 remarked the 24th anniversary of this Society. We are pleased to announce that presently the Society has 23 Member companies, comprising of:
- 15 General Insurers
- 2 Life Insurers
- 1 Composite Insurer
- 3 Takaful Operators
- 2 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.
EXCO Members are the driving force of the Society, involving the volunteers from Claims professionals who are nominated by the Member companies.
There are focused main Sub-Committees formed to carry out the Society’s activities, namely:
- Education & Training, headed by Mr. Teow Hon Boon from Berjaya Sompo Insurance Berhad.
- Networking & Special Project, headed by Mr. Kelvin How Chee Siong from Lonpac Insurance Berhad.
- Best Practices & Anti-Fraud, headed by Pn. Mumtaz Muhammad from Syarikat Takaful Malaysia Am Berhad.
Special applause to all the Members of the named Sub-Committees for their time, commitment and dedication throughout the expiring term.
Education & Trainings
We believe that well-educated claims professionals are best able to represent their industry’s interests by providing excellent claims services professionally to the organization and customers.
Our Educational seminars were organized on a wide range of market informative, emerging new trends, medical, practical, and technical claims-related topics presented by experts in their respective fields.
We are pleased that NICS has successfully organized 5 Seminars as follows:
- Topic on: Forensic Investigation in Motor Claims
- The Objectives:
- Introduced various types of Forensic Investigation with regard to Motor Vehicle claims.
- Provided exposure to Vehicle Damage Investigations with example
- Provided exposure to Vehicle Fire Investigations with example
- Provided exposure to Hydrostatic Lock Analysis cases as well as Risk Mitigation measures for vehicles from Flood damage.
- An insight into how fraudulent claims can be reduced for motor vehicles.
- Topic on: Contractors All Risks/Erection All Risks Claims
- The Objective:
- Provide Insurance practitioners with an excellent working knowledge of claims handling of the Contractors’ All Risks (CAR) and Erection All Risks (EAR).
- Topic on: Marine Liability & Non-Motor Liability
- The Objective:
- Provided Insurance practitioners with an overview and good understanding of Marine & Non-Motor Liability.
- Topic on: Road Transport Act Section 41 & 43 Orthotics & Prosthetics Claims
- The Objectives:
- Brief outline as to how a charge under S41 & S43 affects the insured driver and does it affect the policy between the Insurer and the Insured.
- The evolutionary change involving the development of Orthotics and Prosthetics in Insurance Claims
- Topic on: Hybrid & Electric Vehicle Technology Advanced Driving Assistance Systems Awareness
- The Objectives:
- To have a better understanding of electric and hybrid vehicles and technology.
- To have exposure and know-how on safety items and tools.
- To know the potential risk or hazards when approaching electric and hybrid vehicles.
About 281 participants attended our Seminars for this term.
To this effect, we commend the Education & Training Sub-Committee for being very active and effective and delivering a meaningful range of related topics for the benefit of its members.
The Society always intends to develop working relationships and business rapport with individuals, companies, authorities, or any party of relevance. Over the past and current expiring terms, NICS has brought many individuals together at informative and networking events.
We achieve this by arranging networking cum educational visits to:
- Car Medic Sdn Bhd – Objective achieved:
- This visitation is to enable our Participants to gain further understanding about the Car Medic’s operations. It also gives a better overview of all aspects of their procedures and services for the Insurance fraternity.
- Approved Group International (AGI) – Objectives achieved:
- Educate on the future flood recovery
- New technology in the forensic and restoration industry
- The future of capturing data
- Networking to understand capabilities
Our Society has successfully organized jointly with Malaysian Reinsurance Bhd an event on Great Malaysian Flood (GMF).
The Malaysian insurance and takaful industry has been beset with the rising frequency of severe losses in recent years, which served as a solemn reminder of the extent of devastations of flood severity.
- Objectives achieved at this joint collaboration:
- Provided an overview of claims development of the December 2021 Malaysian flood event (GMF).
- Key insights, hands-on in the field, on the severity of GMF loss and how best to expedite claims assessment.
- Highlights on Malaysia Flood Model data analysis and data quality issues.
- Networking platform for sharing relevant claims information and updates.
- Provided an avenue to discuss best practices for effective claim handling/review.
We are delighted to inform you that 78 participants from Member companies have attended and benefited from this informative joint event.
On behalf of our Networking & Special Project Sub-Committee, we extend our special appreciation to Pn Norfidah Abdullah of Malaysian Re and her team for making the Special Project successful for this term.
Best Practices & Anti-Fraud
We are able to pool claims professionals via the Claims Managers’ Meet to gain and share their expertise, experiences, and technical know-how for the betterment of the industry in various related areas.
We have managed to organize a virtual Claims Managers Meets session attended by 50 persons.
The topic was on Fraud Claims presented by 3 of our Member companies, namely, Etiqa General Insurance Bhd, Liberty Insurance Bhd, and Syarikat Takaful Malaysia Am Bhd, together with Zama Adjuster & Investigators on the following topics:
- Total Loss & Theft Fraud Claims
- TPBI / TPPD Fraud Claims
- PA & Travel Fraud Claims
- Motor Own Damage Fraud Claims
A special appreciation to the Best Practices & Anti-Fraud Sub-Committee for making this webinar successful.
On behalf of NICS, I take this opportunity to record great appreciation to our esteemed Member companies for their most valuable support and contributions made during the year.
I would like to express my heartfelt gratitude and appreciation for the contributions and services volunteered by all the EXCO members who have played their roles in delivering the activities for this term.
Our gratitude also always goes to Ms. Nancy and Ms. Neethya from the Secretariat, who has relentlessly pursued the Society’s objectives together with us.
We appreciate your precious time and attention.
May the Society continue to serve the Insurance Industry in upholding insurance principles, combating Fraud, and sharing best Claims practices.
Mr. Shamnath T.K.
20 March 2023