Malaysian Motor Insurance Award
| Malaysian Motor Insurance Award (MIA) | |
|---|---|
 3rd Motor Insurance Awards | |
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| Awarded for | Excellence in Insurance Services |
| Country | Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). |
| Presented by | Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). |
| First awarded | 15 May 2015 |
| Website | Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). |
The Malaysian Motor Insurance Award (MIA) is an annual award given out to the top motor takaful and insurance companies in Malaysia. The result is based on the annual Motor Insurance Survey carried out by Malaysian company iBanding Services Sdn. Bhd. [1] [2] The winners of the Motor Insurance Award are selected based on the Motor Insurance Survey results that rank the insurance/takaful companies. [3] The company uses a mathematical model to capture the actual insurance experience of vehicle owners to determine the service excellence of each company. The ranking of the insurance companies is based on the model and not based on a panel of experts judges or popularity voting.
The Motor Insurance Survey is conducted online and is open to any Malaysian that owns a vehicle with a valid motor insurance. The last survey was carried out October 2017 - January 2018 and had over 8,600 participants. The companys that rank the highest in each category are given out the Motor Insurance Award. In 2016, the award was given out to Dato' Sri Mohamed Hassan Kamil, Group Chief Executive Officer of Takaful Malaysia.[4] In 2017/2018, the Motor Insurance Award was handed to Kamaludin Ahmad, CEO Etiqa Group Insurance & Takaful. [5] [6]
Motor Insurance Survey[edit]
The survey ranks the insurance and takaful companies based on the respondents of the online survey. A point score is calculated for each company. The score is based on multiple factors, such as customer satisfaction, years with the insurance company and claims experience. The actual scoring model is not publicly known. This is to avoid manipulation of the results. The company states that the Motor Insurance Survey is not paid or funded by any insurance or takaful company to ensure independence and to avoid conflict of interest.
The Net Promoter Score (NPS) [7] question "How likely is it that you would recommend our company/product/service to a friend or colleague? " is also given in the survey to provide an industry wide NPS benchmark across insurance companies.
2017/2018 Malaysian Motor Insurance and Takaful Ranking[8][edit]
The survey was conducts from October 2017 to January 2018. Over 8,600 Malaysian vehicle owners participated in the survey.
| Rank | Company Name | Points |
|---|---|---|
| 1 | Etiqa Insurance | 86 |
| 2 | Allianz | 82 |
| 3 | MPI Generali | 81 |
| 4 | Tokio Marine | 80 |
| 5 | MSIG | 79 |
| 6 | Liberty | 79 |
| 7 | Axa Affin | 77 |
| 8 | AmGeneral & Kurnia | 77 |
| 9 | AIG Malaysia | 77 |
| 10 | LonPac | 75 |
| 11 | Zurich Insurance | 74 |
| 12 | Berjaya Sompo | 74 |
| 13 | Great Eastern General | 72 |
| 14 | RHB Insurance | 72 |
| 15 | Tune | 72 |
| 16 | Pacific Insurance | 70 |
| 17 | Pacific & Orient | 56 |
| Rank | Company Name | Points |
|---|---|---|
| 1 | Takaful Malaysia | 88 |
| 1 | Etiqa Takaful | 88 |
| 2 | Takaful Ikhlas | 82 |
| 3 | Zurich Takaful | 76 |
Past Malaysian Motor Insurance Award (MIA) Winners[edit]
| Year | Conventional | Takaful |
|---|---|---|
| 2017/2018 | 1. Etiqa Insurance
2. Allianz Insurance |
1. Etiqa Takaful
2. Takaful Malaysia |
| 2016 | 1. Allianz Insurance[9]2. Etiqa Insurance | 1. Syarikat Takaful Malaysia
2. Etiqa Takaful |
| 2015 | 1. Pacific & Orient Insurance
2. Liberty Insurance (formerly Uni Asia) |
1. Etiqa Takaful Malaysia |
iBanding Services Sdn. Bhd.[edit]
iBanding Services is a registered company in Malaysia since 2016. The company provides insurance related information on www.ibanding.com. Besides the Malaysian Motor Insurance Award, the company offers a directory for insurance agents and online guides to insurance related matters.
References[edit]
- ↑ Laili Ismail. "Insurance: Bringing transparency to the agency force". The Edge Markets.
- ↑ Wilfred Loh. "These startups are exhibiting at Echelon Malaysia 2017, showcasing the local startup flavour in style". e27.
- ↑ Ibrahim Sani. "Smart Money: What is the best insurance company in Malaysia?". Astro Awani.
- ↑ "Best Motor Insurance". The Star. Events, 18. 22 March 2017.
- ↑ Staff writer(s. "Etiqa Group, Takaful Malaysia win 2018 Best Motor Insurance Award". Borneo Post.
- ↑ Gabriel Olano. "Malaysia's best motor insurer and takaful provider revealed". Insurance Business.
- ↑ "Net Promoter", Wikipedia, 2018-04-23, retrieved 2018-07-01
- ↑ "Malaysian Motor Insurance and Takaful Award". iBanding Services Sdn. Bhd.
- ↑ Chips Yap. "Syarikat Takaful Malaysia and Allianz Malaysia win awards for being best motor insurance companies". Motor Trader.
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