Saturday, March 14, 2020

These are the Best Automotive Insurers According to Motodata Research Consortium (MRC) - Winners of the MRC Industry Awards 2019



Recently, the winners of the prestigious Motordata Research Consortium (MRC) Industry Awards 2019 have been announced by MRC. The MRC Industry Awards are given out annually to honour outstanding insurance companies that demonstrate great initiative and commitment in the highly volatile motor insurance industry. In other words, this could be the automotive insurance companies that you may like to try the next time you buy insurance for your vehicle as their claim approval seem to be the fastest. According to this award that is...


Anyway, a bit on MRC. This consortium was established in 1998 at the request of Bank Negara Malaysia and the Malaysian Insurance Association (PIAM). Thei fundamental mission is to reduce subjectivity in motor claims’ estimation and compensation while recognising the need to ensure that vehicles damaged in an accident are repaired using the right methodology, equipment, and skills, to be safely put back on the road.

From what was informed to us, MRC has implemented a single, and standard database of replacement motor parts nomenclature, price reference and repair times. These criteria was based on the internationally recognized standards – to enable the electronic preparation and transmission of repair estimates MRC collects motor insurance claims information from each insurer in Malaysia and uses its statistical analysis and reporting application to determine the winners for the awards. 

The MRC Annual Awards 2019 winner's list is as follows as :

The Fastest Estimating Claims Approval Time for Own Damage Claims 2019: 
AmGeneral Insurance Berhad

The Fastest Estimate Claim Approval Time for Own Damage Claims 2019 (Takaful Operator):
 Etiqa General Takaful Insurance Berhad

The Most Improved Average Estimate to Approval Time for Own Damage Claims 2019: 
Zurich General Insurance Malaysia Berhad

The Most Accurate Average Estimate to claims Approval Amount in 2019:
AXA Affin General insurance Berhad

The Most Committed Organisation to The MRC Accreditation Programmes in 2019:
Perodua Sales Sdn Bhd

Special Appreciation in support on the opening of the MRC Training and research centre in 2019: Etiqa General Insurance Berhad

Steve Miller, CEO of Motordata Research Consortium presented the awards to the insurance companies at MRC’s new vehicle repair training facility in Kuala Lumpur.

One must note that Perodua has been recognised as the most committed car maker in Malaysia in terms of their authorised service centres submitting insurance claims. Maybe it would be good for you to send your Perodua to an authorised centre if you want proper and speedy approval of your insurance claims. 

Of course, one must make the decision based on insurance prices also and the services they offer aside from these winners. But in the event of an accident, you could say to them that. "Hallo? You recently won an award for fastest estimate claim approval time. Why are you taking so long to complete my accident claim?"

So think about this and congratulations to the winners.

Steve Miller, CEO of Motordata Research Consortium (3rd from left) presenting the Fastest Estimating Claims Approval Time for Own Damage Claims 2019 award to Darren Ryan, Chief Claims Officer, AmGeneral Insurance Berhad (2nd from left).

 Steve Miller, CEO of Motordata Research Consortium (2nd from left) presenting the Most Accurate Average Estimate to claims Approval Amount in 2019 award to Tan Chew Ee, Vice President of Motor, AXA Affin General insurance Berhad (3rd from left)

 Steve Miller, CEO of Motordata Research Consortium (3rd from left) presenting the Fastest Estimate Claim Approval Time for Own Damage Claims 2019 (Takaful Operator) to Muhammad Azlan Che Mat, Executive Vice President, Etiqa General Insurance Berhad (4th from left).


 Steve Miller, CEO of Motordata Research Consortium (3rd from left) presenting the Special Appreciation award to Muhammad Azlan Che Mat, Executive Vice President, Etiqa General Insurance Berhad (4th from left).

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