Page 40 - LIAM Annual Report 2021

Life insurance association of MaLaysia 38

rePort of tHe ManageMent coMMittee

#Myduitstory 2.0 Video coMPetition

#MyDuitStory 2.0 Video Competition is a financial education initiative by the Financial
Education Network (FEN), in collaboration with the insurance and takaful industry
(LIAM, MTA and PIAM), to highlight the importance of insurance and takaful protection.
#MyDuitStory 2.0 was officiated by Deputy Finance Minister Yang Berhormat Tuan
Mohd Shahar Abdullah during the closing of FLM2021 on 30 October 2021.

With the theme focusing on Insurance and Takaful, #MyDuitStory 2.0 is targeting over
100 universities and teacher training colleges. Participants are required to produce a
short video with the most creative and dramatic way in creating awareness on personal
financial risk management.

A briefing by the industry on the topic, “Personal Financial Risk Management”
was conducted on Facebook live and was well attended by over 1,000 students on
26 November 2021. The session aimed at providing a better understanding of financial
risks management among students and the actions they need to take in managing
financial risks in their daily life.
A total of RM30,000 worth of prizes will be up for grabs for the #MyDuitStory 2.0
competition and the video submission by students will take place in the first quarter
of 2022.

insurance and takafuL industry data
cHecking initiatiVe

BNM issued a policy document in 2019 on the data checking arrangement
with Jabatan Pendaftaran Negara (JPN). This initiative aims to enhance the
claims process for payment of death-related benefits for life insurance
policies and family takaful certificates, encourage insurers and takaful
operators to be more proactive when handling claims as well as to
strengthen the level of trust in the insurance and takaful industry.

Moving forward, the industry hopes to be able to reach out to more policy/
certificate holders to check if there are benefits which may be payable. As
part of this initiative, the industry also embarked on awareness campaigns
to educate the public on the importance of making nominations.