MAY 2017
QUARTERLY NEWSLETTER
The Detariffication Of Motor
Insurance In Malaysia
What does it
mean for you?
ALL THINGS AXA
MAY 2017
CTO’S MESSAGE
Preparing For Detariffication
“At AXA, we have already
taken
the
necessary
measures to prepare for
detariffication.
We
are
looking forward to offer our
customers a better pricing
model, with premiums that
reflect their risk profiles.”
Motor detariffication has been a hot topic
for Malaysian insurers and even the man on
the street coming into 2017.
When detariffication takes place, there will
be greater competition for insurers, but also
more flexibility in product availability and
pricing in the market. At AXA, we have
already taken the necessary steps to
prepare for detariffication. We are looking
forward to offering our customers a better
pricing model, with premiums that reflect
their risk profiles, and also to offer new
innovative products and services to provide
an overall enhanced customer experience.
In a detariffed market, customer experience
will become an even more important
differentiating factor for us. At AXA, we are
continuing our efforts to bring customers
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more seamless and pleasant experiences in
our dealings or touchpoints and during
moments of truth. Personalization of
customer experiences, and automation of
back-end processes to deliver faster and
seamless services to customers as well as
improvement of claims services, are areas
which we will be focusing on to provide a
superior customer experience that is
uniquely AXA.
I would like to take this opportunity to
acknowledge all the hard work the Detariff
project team and all those involved, a big
Thank You!
Soo Wai Har
Chief Technical Officer
AXA Affin General Insurance Berhad
WHAT'S NEW @ AXA
ALL THINGS AXA
MAY 2017
AXA Group Crosses €100 Billion
Revenue Mark
For the first time in the history of AXA Group, we
generated €100 billion in revenue on the back of
€5.7 billion record earnings, while maintaining an
extremely stable balance sheet and a solvency
ratio of close to 200%.
We are on track on headline targets of our
Ambition 2020 plan, focusing on the execution of
clear management levers, and pursuing the
transformation of the Group towards becoming the
innovation leader in insurance and empowering
people to live a better life.
“With the commitment and the engagement of our teams, we
have delivered a strong performance in the first year of our new
Ambition 2020 plan”, said Thomas Buberl, Chief Executive
Officer of AXA.
East Malaysia
Surpasses RM 100
Million GWP
More good news! AXA Affin GI has surpassed RM100
million gross written premium (GWP) mark for the first
time in East Malaysia. This was achieved in just 11
months last year. The strong growth in East Malaysia, as
well as in other regions nationwide, have all contributed
to the overall continued growth of the company while
solidifying our position as a top three general insurer in
Malaysia.
We would like to take this opportunity to thank all of our
agents, business partners and customers, who have
supported us all the way in making this possible.
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ALL THINGS AXA
WHAT'S NEW @ AXA
MAY 2017
Sammi Cheng
Stars As
CEO Of AXA!
AXA ENTERTAINMENT NEWS
AXA was featured in the latest romantic
comedy by Hong Kong superstar Sammi
Cheng – Love Contractually. In the movie,
Sammi stars as the CEO of AXA, who goes
through many ups and downs in life in her
quest for true love in comedic fashion.
Love Contractually was on screen in
cinemas mid-February, in conjunction with
Valentine’s Day. Have you seen it yet?
AXA Customer Day Is Back...
Bigger And Better!
in KL on 13 April 2017. To demonstrate how
customer centricity is practiced at all levels of
the organization, our Heads of Departments
took over the roles Customer Service
Representative by serving walk-in customers,
handling customer calls while performing
day-to-day functions like insurance purchase,
renewals, and general enquiries. Guests were
also treated to fun filled activities.
AXA Customer Day 2016 was a big
success in bringing us closer to our
customers. This year, we are bringing it
back, bigger and better, by hosting our
agents and customers in 8 branches
across the country.
The 1st AXA Customer Day of 2017 kicked off
with a bang at our Customer Service Centre
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Be sure to join us at any AXA Customer Day
coming to our branch near you soon!
Branch Name
Tentative Event Date
Time
Seremban
May 9 th (Tue)
9am - 1pm
12 th (Fri)
Malacca
May
Kota Kinabalu
May 16 th (Tue)
9am - 12pm
Johor Bahru
May 18 th (Thu)
9am - 2pm
10am - 4pm
WHAT'S NEW @ AXA
ALL THINGS AXA
MAY 2017
A Personalized Experience For
Our SmartCare Optimum Customers
From April 2017 onwards, our SmartCare
Optimum health insurance customers will
receive a unique personalized video that
acts as a welcome message to new
customers, and a renewal reminder to
existing customers. Customers will receive
the video via SMS and email, and it will
remind them about their personal plan
benefits, sum insured and annual premium,
while providing an easy step-by-step guide
for smooth admission at panel hospitals.
We are the 1st general insurer in Malaysia to
introduce welcome notes and renewal
notices via personalized videos, with the aim
to enhance customer experience, build
closer relationship, trust, customer loyalty
and retention. Catch a glimpse of our
personalised video here!
HEALTH PLAN
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ALL THINGS AXA
INSURANCE TIPS
MAY 2017
6 Things You Need To Know
About Motor Detariffication
Did you know motor insurance in Malaysia will be detariffed starting
1st July 2017? What is detariffication and what does it mean for you as
a customer?
1. What is Motor detariffication?
AFTER DETARIFFICATION
Motor insurance in Malaysia is currently
tariffed, premiums are standardized across
the industry.
Insurance companies can determine your
premium based on multiple factors,
including both your vehicle and your
driver profile. Some examples include:
After detariffication, insurance companies
will be able to practice risk-based pricing,
and use their own method to calculate
premiums for car insurance, based on the
risk profile of the customer.
Driving
Experience
Different age groups
may be rated as having
different levels of risk.
Gender
One gender may have
different driving behavior
or profile than the other.
Vehicle
Make
Vehicles with high risk
of theft rate will be
considered higher risk.
Others
Different insurers may
consider different factors
such as claim history,
where the car is
usually parked, anti-theft
installations and others.
2. How will my car insurance
premium be calculated?
BEFORE DETARIFFICATION
Your car insurance premium
determined using only 2 factors:
is
1) The value of your vehicle (sum insured)
2) The size of the engine (cc)
Everyone with the same sum insured and
engine size will be charged the same
premium.
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INSURANCE TIPS
ALL THINGS AXA
MAY 2017
3. How will this affect me as a
customer?
6. Why should I choose AXA Motor
Insurance after Detariffication?
Customers with good claims history and
lower risk profile may enjoy better premium
rates; and the opposite is true for those with
multiple claims history and higher risk
profile.
AXA Motor Insurance not only offers you
competitive insurance premiums, we also
provide:
Complete on-the-road protection
with options to add-on protection
for windscreen, flood, personal
accident and more.
4. How do I choose the right
motor insurance for me after
Detariffication?
Insurance premium rates should not be the
only factor when selecting your motor
insurance. Customer service standards,
efficiency in claims handling and track
record of insurers are other important
considerations.
5. What are the changes to AXA
Motor Insurance features and
benefits after Detariffication?
You will continue enjoying the same features
and benefits offered by AXA Motor Insurance
even after detariffication. You will also be
able to purchase optional Add-On benefits.
24/7 Motor Roadside Assistance
which provides you with free
towing services, 6-months repair
warranty and more.
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Fast claims service, we process
your claims within RM5,000 in 5
working days.
The best professional agents who
can assist you in getting the best
coverage and to make a claim.
For further information, you can consult any of our
professional AXA agents, or our Customer Service at
(603) 2170 8282 /[email protected], or
visit www.axa.com.my
Watch this video
to learn more
about
Motor
Detariffication
in 2 minutes!
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ALL THINGS AXA
MAY 2017
INSURANCE TIPS
5 Tips To Choose The Best
Home Insurance
1
CONSIDER THE RISKS
BASED ON YOUR LOCATION
2
GET YOUR BUILDINGS
& CONTENTS COVERED
3
INSURE FOR THE REBUILD
COST OF YOUR HOME
4
TAKE INVENTORY OF
YOUR POSSESSIONS
5
DON’T PANIC,
CALL YOUR AGENT
Live in a flood-prone area? Or an area with tall trees? Have there
been many break-in cases in your neighbourhood? Consider all
these factors when deciding what type of cover you need.
Remember to consider protection for two parts: the building, and
contents within.
Insure your home for its replacement value, not just what you paid
for it. You want your insurance coverage to reflect what it costs to
rebuild the home if it's damaged totally.
Make a list of all your home’s contents and the value of those
items based on receipts and purchase dates. You may even want
to take photographs of the items on your list, and remember to
keep receipts for all new items purchased.
In the face of an emergency, contact your agent immediately and
get their assistance to start your claim process right away, so that
you are able to receive your claims in a timely manner.
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HEALTH TIPS
ALL THINGS AXA
MAY 2017
All the following foods are examples of carbohydrates.
MILK
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ALL THINGS AXA
TRAVEL TIPS
MAY 2017
Top Kids-Friendly Holiday
in Asia
Destinations In
From amusement parks to sunny beaches, here are some of the best
holiday destinations for a family getaway in Asia.
Hong Kong
Besides Disneyland, Hong Kong also offers
8 UNESCO Geoparks for a relaxing family
getaway. If you want to experience parks but
not stray from the city, the public Hong Kong
Park in the middle of the urban setting has
ponds that are home to koi fish and turtles.
If you’re a fan of quality views, Peak Tower or
the Hong Kong Ferris Wheel is guaranteed
to deliver breath-taking views of the city.
Bangkok
Foreigners often stereotype this city to be
dirty and crowded but there are actually
quite a few fun activities for children. Dream
World amusement park, Siam Ocean World
aquarium and the Safari World zoo to name
a few. The most kid-friendly destination
would definitely be Kidzania at Siam
Paragon - an educational theme park
offering a replica of city where children can
role-play various careers and earn money.
Penang
Penang is arguably the food haven of
Malaysia. For physical activities, Penang
offers the Escape Theme Park, a park with zero
machines for an absolutely physical experience
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for the entire family. Georgetown, the capital of
Penang, has various destinations where kids
can learn about history such as Fort
Cornwallis and the Georgetown Heritage
site. Penang also has various museums to
add to the historical destinations count such
as the War Museum and Toy Museum.
Singapore
Singapore is easy to explore as getting
around the city easy and stress-free. Not
only that, is it also one of the cleanest cities
in the world, hosting many beautiful gardens
such as Singapore Botanic Gardens and the
Gardens by the Bay which has an interactive
children’s garden. Sentosa Island, known as
Asia’s Favourite Playground is a subway ride
from downtown. Sentosa Island is also
known as Asia’s Favourite Playground where
the tallest ferris wheel in the world, the
Singapore Flyer is located.
Are you planning a family trip this
coming school holiday? Travel with
peace of mind by getting
AXA SmartTraveller here!
VIDEO
ALL THINGS AXA
MAY 2017
3 Business Protection Tips For
Business Owners
Are you a Business Owner?
Watch this video to:
1) Know Your Business
Risks
2) Get the Right Type of
Protection For Your
Business
3) Get Instant Help from
AXA's Professional
SME Experts
5 Reasons Why Should You Get
Help From An Insurance Agent
Find
out
how
an
insurance agent can help
when it comes to a
matter as personal and
important as buying
insurance.
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