Monday, October 16, 2017

Perbadanan Insurans Deposit Malaysia Alerts Public on Protection Payment Scam

Perbadanan Insurans Deposit Malaysia (PIDM) reminds members of the public not to act on any request for payment or to transfer any money for the purpose of paying for protection provided by PIDM. 

“We wish to stress that the protection provided to bank depositors, takaful certificate and insurance policy owners is automatic. PIDM does not require payment of any kind from members of the public,” said Rafiz Azuan Abdullah, Chief Executive Officer.

PIDM has been alerted to recent incidents involving members of the public who were contacted by parties purportedly representing various organisations requesting payment for protection provided by PIDM. 

“Please contact our call centre at 1800-88-1266 for clarification or e-mail us at info@pidm.gov.my. We also remind members of the public not to disclose their financial information, in particular their bank account or credit card details to third parties,” Rafiz added.

PIDM is a Government agency established under the PIDM Act to administer the Deposit Insurance System (DIS) and the Takaful and Insurance Benefits Protection System (TIPS). 

PIDM protects depositors, whether individuals or businesses, against the loss of

Sunday, October 15, 2017

Chubb Announces Management Appointments for its Life Insurance and General Insurance Operations

Chubb Limited announced several management appointments for its general insurance and life insurance operations globally.

Cunqiang Li has been named Chief Operating Officer of Chubb Life, the company's international life insurance division.  Currently Chairman and CEO of Huatai Life, a joint venture between Chubb and the Huatai Insurance Group in China, Mr. Li will be based in Hong Kong and will focus on leading the day-to-day operations of Chubb Life's Asian life insurance entities, in addition to continuing to provide governance oversight to the operations of Huatai Life.  Mr. Li will report to Russell Bundschuh, Senior Vice President, Chubb Group and President, Chubb Life.

Kevin Goulding has been named President of Combined Insurance, the company's agency and worksite-based personal accident and supplemental health insurance company.  Currently Regional President, Asia Pacific, of Chubb Life, Mr. Goulding will be responsible for all management aspects of this business, which has operations in the United States and Canada. He will be based in Chicago and will report to Ed Clancy, Executive Vice President of Chubb Group, Global Accident & Health and Life.  

Brad Bennett has been named Regional President of the company's Far East operations in Japan.  Currently Senior Vice President, Chubb Group and President, Combined Insurance, Mr. Bennett will be responsible for the management and business results for all general insurance operations including property and casualty, accident and health, and personal lines.  He will be based in Tokyo and will report to Juan C. Andrade, Executive Vice President, Chubb Group and President, Overseas General Insurance. 

Jeff Hager has been named Regional Chief Operating Officer of the Pacific Region in the United States.  Currently Regional President, Far East, Mr. Hager will provide management oversight for the regional underwriting and sales strategies in the seven branches of the region which include Los Angeles, San Francisco, Newport Beach, San Ramon, Seattle, Portland and Phoenix.  Mr. Hager will be based in San Ramon, where he will also lead that branch, and report to Jim Darling, Regional Executive Officer for the Pacific Region.  

Chris Martin has been named Chief Operating Officer of Combined Insurance.  Mr. Martin is currently President of Chubb Workplace Benefits, the worksite division of Combined Insurance, and he will continue with these responsibilities.  He is based in Chicago and will report to Mr. Goulding.

All of the appointments are effective December 1.

"One of Chubb's greatest strengths is the experience and depth of our management team globally, which is fully evident in the leadership appointments we announced today," said Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb. 

"The executives who will be moving into new roles – Cunqiang Li, Kevin Goulding, Brad Bennett and Jeff Hager – each has strong technical and

Tuesday, October 10, 2017

Life Insurance Made Easier by Singapore Life

Protecting your loved ones should not be complicated. With this in mind, independent life insurer Singapore Life Pte. Ltd. (Singapore Life) launches its suite of life insurance products, coupled with a fuss-free, customer-centric insurance experience.

Singapore Life’s Term Life and Critical Illness insurance plans aim to fill the gap in catering to customers who are looking for adequate protection with minimal complexity. This introduction of plain vanilla term insurance is a deliberate departure from the many new products in the market compounded with various interesting, but equally complicated features. Customers can now be assured of their coverage and own these policies on their preferred terms – getting online directly themselves, or through one of Singapore Life’s partner advisory firms – and get covered almost immediately.

Mr Walter de Oude, Chief Executive Officer, Singapore Life, said: “People deserve a better solution for their life insurance needs – accessible, un-convoluted and fast. As a preferred Singaporean alternative, Singapore Life simplifies both the product and life insurance process to remove any deterrent for people to get the protection they need. We take the efficiencies from technology to offer better value to the insurance journey – making it more efficient, transparent and flexible to their needs.”

Singapore Life features robust digital robo-underwriting and identity

Friday, September 15, 2017

Manulife Ready CompleteCare: Arm yourself with a critical illness plan that covers you again and again

Manulife Singapore has launched Ready CompleteCare, a critical illness insurance plan that offers the most comprehensive coverage across early, intermediate and advanced stages for 106 conditions.
 

Insurance Plan to Cover all Early, Intermediate and Advanced Stages of Critical Illness

Early detection of critical illnesses may enhance the chance of a full recovery, and the plan is designed to provide financial support through all three stages of critical illness – early, intermediate and advanced – so customers can focus on treatment and recovery.
 
To further lighten the financial burden, Ready CompleteCare also offers extra insurance coverage of 20% of your coverage amount (capped at S$25,000) for up to six claims on diagnosis across 18 special conditions, which can be particularly expensive to treat.
 

“Cover Me Again” insurance benefit

Most customers’ policies and savings can weather the cost of a single critical illness. However, the reality is that many critical illnesses have a high chance of occurring and recurring during a person’s lifetime. For continued protection against recurring illnesses, Manulife introduces Cover Me Again, a ‘restart’ feature that restores your coverage in 12 months following a claim, allowing you to claim up to 500% of your coverage

Monday, September 11, 2017

AIA SINGAPORE LAUNCHES AIA FINANCIAL ADVISERS

31 Aug 2017 - AIA Singapore launches AIA Financial Advisers (AIA FA) as part of the insurer's move to strengthen its distribution network. This initiative also underscores AIA Singapore’s commitment to provide customers with more choices and greater accessibility for quality and professional face-to-face financial advice.

A wholly-owned subsidiary of AIA Singapore, AIA FA is a financial advisory firm that complements AIA Singapore’s market-leading tied Agency distribution channel.

“Our customers are at the heart of everything we do at AIA. In today’s digital age, customers are more financially savvy and expect more access to professional financial advice. The new AIA FA is well-positioned to empower individuals with personalised and quality financial advice. By strengthening our distribution network, with AIA Singapore’s market-leading tied Agency Force and