PEOPLE AT THE HEART OF THE INDUSTRY PIAM YEAR BOOK 2019 COVER The history of Persatuan Insurans Am Malaysia (PIAM), i.e. RATIONALE the General Insurance Association of Malaysia, originated from the establishment of various insurance and tariff associations set up in 1885 that played a role as a collective voice of the insurance industry in Malaya and Singapore, shortly after the independence of Malaya in 1957. In June 1961, the Insurance Association of Malaya was formed to maintain tariff discipline, respond to new insurance legislations and promote sound insurance practices. For PEOPLE AT THE the first time, an Association was established in Kuala HEART OF THE INDUSTRY Lumpur to safeguard the country’s general insurance PIAM YEAR BOOK 2019 interest. Persatuan Insurans Am Malaysia ABOUT PIAM Level 3, Wisma PIAM, 150, Jalan Tun Sambanthan, 50470, Kuala Lumpur. Tel : 03-2274 7399 | Fax : 03-2274 5910 www.piam.org.my PERSATUAN PEOPLE AT THE HEART OF THE INDUSTRY INSURANS As we enter a new dawn of connected living, digital technologies have become part of our daily lives. While digitalisation plays a major role in our advancement, AM MALAYSIA it is people who are at the core of this change. Subsequently, PIAM was incorporated in May 1979 as a statutory This is also true for the general insurance industry. Which is why the theme for trade association recognised by the Government of Malaysia for Year Book 2019 is People at the Heart of the Industry. all registered insurers who transact general insurance business. Currently, PIAM has 26 member companies comprising direct By recognising the heroes of our industry, PIAM emphasises the importance of general insurance and reinsurance companies operating in supporting and investing in the growth of our people to spur innovation as well Malaysia. as to drive the industry and the nation forward. PIAM YEAR BOOK 2019 ABOUT PIAM 3 TABLE OF CONTENTS OUR MISSION STATEMENT To be a Dynamic Trade Association serving the interests of our members by creating a favourable business environment and working closely with all stakeholders to 6 7 8 support the initiatives under our National Agenda. Our Members Corporate Information Management Committee 2019/2020 OUR CORPORATE OBJECTIVES 10 12 18 · Articulate One Unified Voice for and on behalf of the industry Representatives in Other Sub-committee Members PIAM Year Book · Create Favourable Business Environment for member companies Organisations 2019/2020 2019/2020 · Promote Image of the industry and its Role in the Economy · Educate Consumers on General Insurance Products · Foster Public confidence by protecting the interests of Consumers · Establish a Sound and Efficient Insurance Infrastructure with Best Practices 19 21 28 · Raise Professionalism and ensure Standards in Distribution The Industry Landscape Key Industry Stakeholder · Harmonize Approaches and Solutions to Industry Issues and Performance Developments Engagement · Build a pipeline of talent and profile general insurance as a career of choice · Facilitate Information Sharing within boundaries of Competition Act 34 84 88 Industry Issues and List of Members Insurance Indicators OUR Activities CORE VALUES Professionalism Industry-focused 93 95 Accountability Roll of Honour Acknowledgement Make a difference 1979 - 2020 PIAM YEAR BOOK 2019 PIAM YEAR BOOK 2019 4 TABLE OF CONTENTS ABOUT PIAM 5 OUR MEMBERS CORPORATE INFORMATION Chairman MR. ANTONY LEE FOOK WENG Chief Executive Officer MR. MARK LIM KIAN WEI Bankers HONG LEONG BANK BERHAD 150, Jalan Tun Sambanthan, 50470 KUALA LUMPUR Auditors SJ GRANT THORNTON Level 11, Sheraton Imperial Court, Jalan Sultan Ismail, 50250 KUALA LUMPUR Registered Office Level 3, Wisma PIAM, 150, Jalan Tun Sambanthan, 50470 KUALA LUMPUR PIAM YEAR BOOK 2019 PIAM YEAR BOOK 2019 6 OUR MEMBERS CORPORATE INFORMATION 7 MANAGEMENT COMMITTEE 2019/2020 Mr. Chris Kurinsky Mr. Derek Roberts (Convenor, Accident, Health and Others) (Convenor, Claims Management) Mr. Antony Lee Fook Weng Mr. Ng Kok Kheng (Chairman) (Deputy Chairman and Convenor, Finance & ERM) En. Zainudin Ishak Mr. Eric Chang (Convenor, Education/HRD) (Convenor, Digitalisation & Technology) Mr. Mark Lim Kian Wei Mr. Steve Crouch (Chief Executive Officer) (Convenor, Public Relations/CSR and Regulatory & Industry Development) Mr. Kong Shu Yin Mr. K.G. Krishnamoorthy Rao (Convenor, Fire, Marine & Engineering) (Convenor, Motor) PIAM YEAR BOOK 2019 PIAM YEAR BOOK 2019 8 MANAGEMENT COMMITTEE 2019/2020 MANAGEMENT COMMITTEE 2019/2020 9 REPRESENTATIVES IN OTHER ORGANISATIONS VEHICLE THEFT REDUCTION COUNCIL OF MALAYSIA BERHAD (VTREC) ASEAN INSURANCE COUNCIL (AIC) Mr. Antony Lee AIG Malaysia Insurance Berhad Mr. Antony Lee AIG Malaysia Insurance Berhad Mr. K.G. Krishnamoorthy Rao Mr. Mark Lim MPI Generali Insurans Berhad Persatuan Insurans Am Malaysia Mr. Mark Lim Persatuan Insurans Am Malaysia THE MALAYSIAN INSURANCE INSTITUTE (MII) En. Muhammad Azlan Noor Bin Che Mat Mr. Antony Lee Etiqa General Insurance Berhad AIG Malaysia Insurance Berhad FINANCIAL INDUSTRY COLLECTIVE OUTREACH (FINCO) MALAYSIAN RATING CORPORATION BHD (MARC) Board Members: Mr. Antony Lee Mr. Ng Kok Kheng AIG Malaysia Insurance Berhad Great Eastern General Insurance (Malaysia) Berhad Mr. Mark Lim Persatuan Insurans Am Malaysia OMBUDSMAN FOR FINANCIAL SERVICES (OFS) Steering Committee: Mr. Antony Lee En. Zainudin Ishak AIG Malaysia Insurance Berhad Malaysian Reinsurance Berhad MALAYSIAN MOTOR INSURANCE POOL (MMIP) Ms. Mahinder Kaur Mr. Steve Crouch Persatuan Insurans Am Malaysia Chubb Insurance Malaysia Berhad TASK FORCE ON MEDICAL AND HEALTH INSURANCE COST CONTAINMENT NATIONAL TRANSIT TRANSPORT COORDINATING COMMITTEE (Protocol 5) Mr. Chris Kurinsky QBE Insurance (Malaysia) Berhad Mr. Mark Lim Persatuan Insurans Am Malaysia Mr. Kong Shu Yin RHB Insurance Berhad ISM INSURANCE SERVICES MALAYSIA BERHAD NATIONAL COMMITTEE ON MANAGED CARE Mr. Derek Roberts AmGeneral Insurance Berhad Ms. Christine Teh Chooi Hoon Great Eastern General Insurance (Malaysia) Berhad CENTRAL ADMINISTRATION BUREAU (CAB) Ms. Jenny Yeoh Yeok Len SUPERVISORY BOARD MSIG Insurance (Malaysia) Bhd Mr. Antony Lee AIG Malaysia Insurance Berhad PIAM YEAR BOOK 2019 PIAM YEAR BOOK 2019 10 REPRESENTATIVES IN OTHER REPRESENTATIVES IN OTHER 11 ORGANISATIONS ORGANISATIONS DIGITALISATION & TECHNOLOGY DISTRIBUTION MANAGEMENT CONVENOR CONVENOR MEMBERS Mr. Emmanuel Nivet Mr. David Fike SUB-COMMITTEE AXA Affin General Insurance Berhad Zurich General Insurance Malaysia Berhad - from January 2019 - March 2019 - up to 23 May 2019 ACCIDENT, HEALTH & OTHERS CLAIMS MANAGEMENT Mr. Eric Chang Ms. Defne Turkes CONVENOR CONVENOR AIA General Berhad Liberty Insurance Berhad Mr. Chris Kurinsky Mr. Derek Roberts - w.e.f. May 2019 - from July - December 2019 QBE Insurance (Malaysia) Berhad AmGeneral Insurance Berhad DEPUTY CONVENOR DEPUTY CONVENOR DEPUTY CONVENOR DEPUTY CONVENOR Mr. Peter Nyam Wing Keong Ms. Grace Quah Seok Chen Ms. Christine Teh Chooi Hoon Mr. Voon Wing Chuan Etiqa General Insurance Berhad AmGeneral Insurance Berhad Great Eastern General Insurance (Malaysia) Berhad Lonpac Insurance Bhd MEMBERS MEMBERS MEMBERS MEMBERS Mr. Sunny Lim Sze Chuan Mr. William Lim Mr. Suresh Singh Mr. Jasvinder Singh a/l Pritam Singh AIG Malaysia Insurance Berhad AIA General Berhad AIG Malaysia Insurance Berhad AIG Malaysia Insurance Berhad - up to 7 January 2019 Mr. Michael Fong Ms. Mary Lim Ah Leng Mr. Darren Joseph Ryan Allianz General Insurance Company (Malaysia) Berhad Mr. Amitabh Singh AmGeneral Insurance Berhad AmGeneral Insurance Berhad Mr. Andrew Hong Aun Yee AIA General Berhad Mr. Robin Ding Mr. Leong See Meng AmGeneral Insurance Berhad - w.e.f. January 2019 AXA Affin General Insurance Berhad Berjaya Sompo Insurance Berhad Mr. Roy Siew Heng Cheong Mr. Kevin Rajaratnam - up to January 2020 En. Muhammad Azlan Noor Bin Che Mat Berjaya Sompo Insurance Berhad AIG Malaysia Insurance Berhad En. Azmy Bin Taib Etiqa General Insurance Berhad Mr. Lee Pooi Hor En. Mohamed Halid Etiqa General Insurance Berhad Ms. Gan Woon Nie Great Eastern General Insurance (Malaysia) Berhad Etiqa General Insurance Berhad Mr. Matthews a/l George Great Eastern General Insurance (Malaysia) Berhad - up to 1 October 2019 Liberty Insurance Berhad Ms. Linda Ho Yen Lai Mr. Ronnie Chan Yoon Kong Mr. Ng Yow Huat Great Eastern General Insurance (Malaysia) Berhad Ms. Jenny Yeoh Yeok Len Liberty Insurance Berhad MPI Generali Insurans Berhad MSIG Insurance (Malaysia) Bhd En. Haidzir Mansor Mr. Jaspal Singh a/l Arjan Singh Ms. Giam Siew Chooi Liberty Insurance Berhad Ms. Lum Sau Mei MSIG Insurance (Malaysia) Bhd MSIG Insurance (Malaysia) Bhd Progressive Insurance Bhd Ms. Sia Meu Ing Ms. Chan Cheng Sim Mr. Jeff Tan Han Hui - up to April 2019 Lonpac Insurance Bhd Pacific & Orient Insurance Co. Berhad Progressive Insurance Bhd Ms. Tay Li May Mr. Alan Sii How Ping Mr. Yee Han How Mr. Teoh Guan Huat Progressive Insurance Bhd RHB Insurance Berhad QBE Insurance (Malaysia) Berhad MSIG Insurance (Malaysia) Bhd - w.e.f. May 2019 Ms. Hima Bindu Mr. Tan Aik Peng (Daniel) Ms. Angela Ng Ms. Amy Tan King Yee Swiss Re Asia Pte. Ltd., Malaysia Branch RHB Insurance Berhad Progressive Insurance Bhd QBE Insurance (Malaysia) Berhad - up to 6 March 2019 Mr. Vikram Jain Mr. Lim Kok Huat The Pacific Insurance Berhad Pn. Azizah Bt. Supaat RHB Insurance Berhad Progressive Insurance Bhd Ms. Cheow Kok Lan Ms. Lily Teh Lai Lai - w.e.f. April 2019 Tokio Marine Insurans (Malaysia) Berhad Tune Insurance Malaysia Berhad Mr. Tan Lin Hong Mr. William Foo Tune Insurance Malaysia Berhad QBE Insurance