Page 62 - LIAM Annual Report 2021

Life insurance association of MaLaysia 60

REPoRt oF thE managEmEnt committEE

EngagEmEnt with consumERs association oF PEnang

LIAM organised a virtual engagement session with the contribute to medical inflation and the reasons behind the
Consumers Association of Penang (CAP) for the first time on increase in premiums.
15 November 2021.
The industry looks forward to fostering a fruitful collaboration
The team from LIAM, headed by its CEO, Mark O’Dell, shared with CAP to serve Malaysian consumers better.
a presentation deck on the overview of LIAM, its role and
functions, as well as the latest activities and developments
undertaken by the industry.

Meanwhile, CAP was represented by its president, Mohideen
Abdul Kader, who shared some complaints pertaining to the
increase in medical and health insurance (MHI) premiums,
insurance claim disputes, etc.
It was a fruitful session as LIAM had the opportunity to explain
how medical and health insurance policy works, factors that

malaysian insuRancE institutE

LIAM has formed a cordial working relationship with the Malaysian Insurance Institute (MII) over the years particularly on matters
concerning licensing examinations and education/training for the agency force. LIAM CEO, Mark O’Dell, is also a member of the
MII’s Academic Quality Assurance Committee.

During the year, MII had an engagement session with LIAM members on Agent Licensing Examination Registration on 26 October
2021, during which MII had shared the findings of its survey of the licensing examinations and incidents of breaches in the
examinations.

During the session, MII also highlighted the issue of candidates’ readiness for the examination and sought the agency staff
assistance to ensure that candidates come prepared for the examinations.

MII organised a session with LIAM and PIAM members on 3 August 2021 to present its proposal on an industry-wide data maturity
assessment to understand where insurers are at in the journey of becoming data-driven organisations. A follow-up session,
specifically for LIAM members, was held on 3 August 2021 for them to better understand the requirements of the study.