In­dus­try Up­dates


Insurance - - INDUSTRY UPDATES - Source: Al­lianz Malaysia Press Re­lease, 23rd Nov 2015

Al­lianz Malaysia Ber­had took home the Out­stand­ing Achieve­ment Award at the in­au­gu­ral ASEAN Cor­po­rate Gov­er­nance Con­fer­ence and Awards (ACGCA) in Manila, Philip­pines on 14th Novem­ber 2015. Al­lianz was one of Malaysia’s top two pub­licly listed com­pa­nies (PLCs) in terms of most im­proved scores from 2013-2015 based on the re­sults of the ASEAN Cor­po­rate Gov­er­nance Score­card (Score­card). The Score­card, which was in­tro­duced in 2011, is a cor­po­rate gov­er­nance ini­tia­tive by the As­so­ci­a­tion of South­east Asian Na­tions (ASEAN), un­der the ASEAN Cap­i­tal Mar­kets Fo­rum (ACMF) Im­ple­men­ta­tion Plan for the de­vel­op­ment of an in­te­grated cap­i­tal mar­ket, to com­ple­ment other ACMF ini­tia­tives and to pro­mote ASEAN as an as­set class. The Score­card in­tended to raise cor­po­rate gov­er­nance stan­dards of PLCs in ASEAN coun­tries and in­crease their vis­i­bil­ity to in­vestors. Six ASEAN Coun­tries – In­done­sia, Malaysia, Philip­pines, Sin­ga­pore, Thai­land and Viet­nam – par­tic­i­pated in the re­gion’s most pres­ti­gious event which recog­nises com­pa­nies that im­ple­ment good cor­po­rate gov­er­nance as well as fur­ther ed­u­cat­ing and in­spir­ing com­pa­nies of the sig­nif­i­cance of in­still­ing and main­tain­ing good cor­po­rate gov­er­nance. The event was hosted by the Se­cu­ri­ties and Ex­change Com­mis­sion of the Philip­pines and ACMF and co­p­re­sented by the Asian De­vel­op­ment Bank, in part­ner­ship with the Philip­pine Stock Ex­change, the In­ter­na­tional Fi­nance Cor­po­ra­tion and the In­sti­tute of Cor­po­rate Di­rec­tors. MyLINK pro­vides a di­rect in­ter­face be­tween con­sumers and fi­nan­cial ser­vice providers. The app of­fers a direc­tory of con­ven­tional and Is­lamic bank­ing, in­sur­ance and Taka­ful com­pa­nies as well as small medium en­ter­prises (SMEs) and al­lows users to get in touch with the com­pa­nies. MyTabung of­fers a bud­get­ing tool that al­lows users to cap­ture in­comes, sav­ings, and re­cur­ring ex­penses with an on-the-spot dis­play of the user’s fi­nan­cial stand­ing and spend­ing pat­terns. The mo­bile apps are avail­able in both Ba­hasa Malaysia and English. It can be down­loaded for free from Ap­ple’s App Store and Google’s Play Store.

One Precinct is de­signed and built to com­ply to MSC (Malaysia Cy­ber Cen­tre) sta­tus with world-class phys­i­cal in­fra­struc­ture and lo­cated close to key lo­cales such as the Pe­nang In­ter­na­tional Air­port and Free Trade Zone. Tokio Marine will oc­cupy a to­tal of 12,000 sq. feet of the Ground Floor of­fer­ing easy ac­cess and con­ve­nience with am­ple se­cured park­ing for both cus­tomers and busi­ness part­ners alike. With this launch, Tokio Marine would also like to cap­i­talise to fur­ther strengthen its pres­ence in the north­ern re­gion of Malaysia which cur­rently con­trib­utes to 17% of the com­pany’s over­all busi­ness. Equally im­por­tant, this hub re­in­forces Tokio Marine’s sta­tus as one of the ma­jor in­sur­ers in the sur­round­ing re­gion and this move is mo­ti­vated by Pe­nang’s GDP growth of 6.4% in the last five years. “Through the new re­gional hub, we will achieve bet­ter op­er­a­tions ef­fi­ciency to serve the north­ern re­gion’s busi­ness needs to meet cus­tomers’ de­mand. It gives us the op­por­tu­nity to pro­vide the next level of ser­vice to our present cus­tomers – some­thing that our part­ners have been ask­ing for and ex­pect, and through this, we en­hance busi­ness and qual­ity that creates good­will in the mar­ket place. We would like to be the heart­beat of the larger com­mu­nity giv­ing us the ad­van­tage of ex­pos­ing the busi­ness to a wider au­di­ence,” said Ms Yen Saw, CEO of TMIM.

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