In­spir­ing Young Lead­ers

Insurance - - CONTENTS -

It has be­come a tra­di­tion for IN­SUR­ANCE to fea­ture an in­ter­view with the win­ner of the Young ASEAN Man­agers Award (YAMA). It is a tra­di­tion that I re­ally like be­cause the win­ners are all so in­spir­ing and open to shar­ing their ex­pe­ri­ences. This year’s win­ner, Pichet Jiara­ma­nee­taveesin, Head of Cor­po­rate Ac­tu­ar­ial of Amer­i­can In­ter­na­tional As­sur­ance Com­pany Limited Thai­land, has achieved a great deal for both his com­pany and his pro­fes­sion. What I find par­tic­u­larly im­pres­sive is the enor­mous time that Pichet de­votes to­wards mak­ing sure that he con­trib­utes not only to his job but also to his pro­fes­sion. In his words, “a leader should be a good rep­re­sen­ta­tive for the in­dus­try, show­ing his or her will­ing­ness to speak hon­estly to the pub­lic about the chal­lenges fac­ing the in­dus­try to en­cour­age col­lab­o­ra­tion among stake­hold­ers.” With young man­agers who think like Pichet, I be­lieve the in­dus­try can look for­ward to an ac­tive, in­spir­ing and ded­i­cated team of lead­ers in the com­ing years.

From one ex­treme to the other – on the one hand, we have fea­tured Pichet’s pos­i­tive con­tri­bu­tion to the in­sur­ance in­dus­try. On the other hand, in this same is­sue, we also fea­ture the ugly side of hu­man na­ture – fraud in the in­sur­ance in­dus­try. As Rebecca C., points out in her ar­ti­cle, In­sur­ance Fraud in Malaysia, “For as long as the in­sur­ance in­dus­tries have thrived in Malaysia, so too have in­di­vid­u­als and or­gan­ised crime syn­di­cates been rak­ing in mil­lions with false claims.”

Whilst in­sur­ance fraud is too large an area to cover in one is­sue, we have se­lected prac­ti­cal ar­ti­cles to trig­ger ideas for read­ers to bat­tle against it. Par­tic­u­larly de­tailed and in­ter­est­ing is John Hoswell’s step-by-step ex­pla­na­tion of what is in­volved in the sci­en­tific in­ves­ti­ga­tion of a fire claim. It is cer­tainly a very thor­ough ap­proach. Whilst John’s ar­ti­cle con­cen­trates on phys­i­cal in­ves­ti­ga­tion, a great deal can also be gleaned from data anal­y­sis as a method of high­light­ing red flags for po­ten­tial fraud­u­lent claims. Helen Lim con­cen­trates on the an­a­lyt­i­cal as­pects of fraud de­tec­tion in her ar­ti­cle, Fraud De­tec­tion Ap­proaches.

In this is­sue we also con­tinue our se­ries of ar­ti­cles on knowl­edge man­age­ment. Rumesh Kumar ar­gues that as Malaysia moves along the K-econ­omy mas­ter plan, knowl­edge as­sets are keys to a high per­for­mance cul­ture. Rumesh writes in his ar­ti­cle, Man­ag­ing Knowl­edge As­sets in the Fi­nance & In­sur­ance In­dus­try that un­for­tu­nately, “De­spite enor­mous ef­forts un­der­taken by the govern­ment and pri­vate en­ter­prises to in­tro­duce knowl­edge man­age­ment in the fi­nance and in­sur­ance in­dus­try, the re­sponse in terms of suc­cess­fully im­ple­ment­ing knowl­edge man­age­ment in this sec­tor has been luke­warm. There is a gen­eral sense of re­luc­tance to ac­cept knowl­edge man­age­ment as a tool to im­prove bot­tom line per­for­mance.” As an in­dus­try we clearly have a long way to go along the knowl­edge man­age­ment path and in IN­SUR­ANCE we will con­tinue to do our part by pro­vid­ing good, prac­ti­cal ar­ti­cles and ex­pe­ri­ence shar­ing ar­ti­cles in the area.

Khadijah Ab­dul­lah

Edi­tor in­sur­anceed­i­tor@mii.org.my

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