Dear Valued Bank Partner,
For many decades, the motor insurance/takaful premiums/contributions in Malaysia were defined by Tariff rates set by Bank Negara Malaysia (BNM). When premiums/contributions are set by Tariff rates, the insurance/takaful companies are not allowed to vary the rates.
With the abolishment of motor Tariff rates effective from 1 July this year, each insurance/takaful company can use their own methods to calculate the price for motor premiums/contributions.
With effect from 1 July 2017, our motor contribution rates will be differentiated in accordance to the risk of vehicle and driver (such as residence location, age of vehicle, make and model of vehicle, claims history, age of driver, etc.) with the aim to provide the best price and value to your customers in the liberalised market.
Best of all, your customers will be entitled to our enhanced motor features which include the complimentary personal accident coverage for the driver and all passengers and unlimited number of towing services under our new Roadside Assistance Program. These are in addition to our 15% Cash Back for no claims.
Click here to know more about the motor detariffication and our enhanced motor product offerings.
For further enquiries, please get in touch with your respective Business Managers.