Are you wondering which company provides the Best Life Insurance and Family Takaful in Malaysia? Here are the winners of the 2019 Awards from iBanding.
The Life Insurance and Takaful Award was established in 2019 and is Asia’s first independent award based on actual customer feedback and not based on a jury or popularity vote. The awards help Malaysians to better compare insurance companies by providing transparent and neutral information on customer service and products that each company offers. The 2019 survey was conducted online from November 2018 to March 2019, and over 10,000 Malaysians participated.
Many times awards are given out to companies because they have paid for the top position or a group of people in a jury selected the winners. With people involved in the decision process, you cannot be sure that the results are neutral. iBanding’s ranking and selection of winners use actual customer reviews and a sophisticated statistical model to provide impartial, unbiased results. This best reflects what Malaysian consumers believe about the service level of a company. iBanding then awards stars from 1 to 5 to each company to indicate the type of service level that they provide. It works like websites such as Booking.com or TripAdvisor, but instead of hotels, we provide insights into Malaysian insurance and takaful companies. A company with five stars offers better service and products than a company with only 1 star.
Left: Raymond Lew, CEO & President / Country Head, Sun Life Malaysia Assurance
Right: Meng Chau Chia, CEO iBanding
“This Award is a fabulous acknowledgement of the progress of our Client for Life strategy which puts the Client at the centre of everything we do, by making it easier to do business with us, being more proactive and personalised, and improving our problem resolution. To be honoured with an Award that is based on our service level and actual clients’ reviews are a validation of how every function across our company is focused on providing outstanding value to our clients. Our business is about making a meaningful difference in people’s lives, and this is in line with our Business Purpose to help them achieve lifetime financial security and live healthier lives,” says Raymond Lew, CEO & President / Country Head, Sun Life Malaysia
Raymond Lew, CEO & President / Country Head, Sun Life Malaysia Assurance
Left: Zafri Ab Halim, CEO Etiqa Family Takaful Berhad
Center: Meng Chau Chia, CEO iBanding
Right: Zaharudin Daud, CEO, Etiqa General Takaful Berhad
“Zafri Ab Halim, CEO Etiqa Family Takaful Berhad said, “At Etiqa, we are all about delivering fast and easy services to our customers whilst ensuring we provide advice that has their best interest at heart. Thus we are thrilled to receive this inaugural Award, as voted by the Malaysian public.”
Zafri Ab Halim, CEO Etiqa Family Takaful Berhad
In 2019, Malaysia has 11 Family Takaful companies and 14 Life Insurance companies that sell insurance. It can be challenging to find the right company that fits you the best. iBanding’s Annual Ranking helps you compare what Malaysian consumers think of the company. Over 10,000 Malaysian have participated in the annual survey and shared their experience through their ratings and reviews.
Note: The below rankings do not rank all the Malaysian companies because for some companies, not enough data was collected to represent the actual score of the company.
The Malaysian Insurance and Takaful award is an award organized by iBanding an independent insurance education website. The Award is given out to the Best Insurance and Takaful companies voted by Malaysians.
Luke Roho, Director of iBanding, explains: “Our reports and rankings help Malaysians to understand better the quality of service that companies provide. In today’s age with so much information at our fingertips, it is not a secret anymore whether a company offers excellent or bad service. Malaysians freely write and share exceptional customer experience to help their friends and families to enjoy the same benefits. On the other hand, if they experience bad service, consumers are also quick to share it on social media to help others from making the same mistake. Our iBanding’s survey and model captures that experience independently and summarises it in a ranking so that every Malaysian can benefit from that information. ”