We are a global business that aims to deliver best-in-class customer and agent experiences. Part of the Liberty Global Retail Markets (GRM), one of Liberty Mutual Insurance’s Strategic Business Units; Liberty Global Retail Markets is an organization that aims to win in each market by combining global scale and capabilities with local knowledge, talent, innovation and agility. Our business is comprised of five business operations: U.S. Consumer Markets, GRM East, GRM West, Business Insurance and Accident and Health. They sell property, casualty and health insurance products and services to individuals and businesses in 17 local operations; in the United States, Latin America, including Brazil, Colombia, Chile and Ecuador; Europe, including Spain, Portugal, Turkey, Ireland, and Russia; and Asia-Pacific, including Thailand, Singapore, China (including Hong Kong), Vietnam, India and Malaysia.
Why Is Motor Insurance / Motor Takaful Being Liberalised?
Currently, motor insurance premiums/motor takable contributions are determined by tariffed rates based on model, age and engine capacity of vehicles, and discounts the form of NCO*. Starting 1 July 2017, the premium/takaful contribution for Motor Comprehensive and Motor Third Party and Theft products will be determined by individual insurance companies and takable operators. Liberalisation will drive fairer ways of pricing premiums/takaful contributions based on risk profiles, which will encourage road users to be more responsible. This will spur innovation with more products and services to meet different consumer needs for the ultimate benefit of the motoring public.
What are the Benefits?
More Choices. New and innovative products. Better Efficiency. Smoother and more efficient services Fairer Pricing. Premiums / takable contributions will be priced fairly based on risk profile groups
How you can make a difference.
Here are some useful tips:
Adopt Good Driving Behaviour
Maintain your No Claim Discount by driving safely and avoiding accidents.
Diligently follow traffic rules, including not using mobile phone while driving, to keep a clean record
Maintain Your Vehicle Well
Reduce the chances of accidents by following your car’s maintenance schedule.
Observe the speed limit at all times and drive safely
Use the speed lane only when you are overtaking other slow vehicles
Shop Around for the Best Option Compare premium / takaful rates offered by insurance providers / takaful operators to get the best value and coverage.
Watch this video and learn how you can make a difference in motor insurance.
Bahasa Malaysia Version
Insurans Motor; Kini, Anda Sebagai Konsumer Berhak Membuat Perubahan