Malaysian Motor Insurance Award 2024

Malaysian Motor Insurance Award 2024

What is the Malaysian Motor Insurance/Takaful Award ?

The Malaysian Motor Insurance and Takaful Award was established in 2016 and is Asia’s first independent motor insurance and takaful awards based on customer feedback.
Every year iBanding conducts an online survey and asks actual Malaysian customers what they think of their current insurance and takaful company. The results are then published in the annual ranking of the companies. The best companies are awarded the Motor Insurance and Takaful Award. The goal of the awards is to help Malaysian consumers to better compare insurance companies, by providing transparent and neutral detailed information on the best motor companies in Malaysia.

Many times awards are given out to companies because they have paid for the top position or a group of people in a jury or panel 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 complex statistical model to provide neutral, unbiased results. This best reflects what Malaysian consumers believe about the service level of a company. It works like websites such as or TripAdvisor, but instead of hotels, we provide insights into Malaysian insurance and takaful companies.

Malaysian Motor Insurance Award Winner

Winner and Rank #1: 

Generali Insurance Malaysia


Berjaya Sompo Insurance

Best Car Insurance Ranking 2023/2024
  1. Generali Insurance Malaysia – Car Insurance
  2. Berjaya Sompo Insurance – SOMPO Motor 
  3. Etiqa Insurance – Car Insurance
  4. Tokio Marine – Motor Insurance
  5. Allianz Malaysia – Motor Comprehensive
  6. MSIG Motor Insurance – Comprehensive Private Car
  7. RHB Insurance – Motor Insurance Saver
  8. Zurich General Insurance – Z-Driver
  9. Liberty General Insurance – EZY Plus
  10. LonPac Insurance – Motor ezSecure Comprehensive

What is iBanding’s Motor Insurance Award (MIA)?

The Motor Insurance Award (MIA) is an annual award organized by iBanding an independent insurance education website. The Award is given out to the Best Motor Insurance and Takaful companies voted by Malaysians.

Roho, 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. “

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Why is the Motor Insurance and Takaful Award important? How does it help?

Since the start of the Motor Detariffication or also known as “Liberalization of the Motor Insurance Tariff”, insurance companies are allowed to set their own prices for their motor insurance products, unlike the previous system where all prices were controlled by Bank Negara. With more and more insurance companies starting to charge different prices for their products, it has become increasingly important for Malaysians to compare not only the price for their motor insurance policies but also the quality offered by different companies.

Everyone can check the prices for insurance online now. Over 10 companies offer online quotation. You can find the latest list of insurance here.

However it is difficult to compare the service quality between the insurance companies. iBanding conducts the Motor Insurance Survey every year identify how good the customer service and claims service levels are. The best company in each category conventional insurance and takaful are awarded with the Motor Insurance Award.

Our Motor Insurance Award is not a recommendation to buy. Instead, it offers a guidance on which insurance or takaful company has provided the best service to the Malaysian that participated in the survey. This year over 8,600 Malaysians participate.

How does the ranking work? How are the winners selected?

iBanding ranks the insurance and takaful companies on actual feedback from Malaysian motorists with valid motor insurance policies. The final score is calculated based on multiple factors, such as customer satisfaction, years with the insurance company and claims experience.  The actual scoring model is not shared to avoid manipulation of the results. However, the model takes into account how much experience and touch points a customer has with their insurance company.

The Motor Insurance Survey is not paid or funded by any insurance or takaful company to ensure full independence, so that there is no conflict of interest.

Why are not all insurance companies listed?

The insurance survey was answered by 10,000+ participants, but not all insurance companies received enough response to give a fair judgement of their service and customer satisfaction level. Companies that did not reach the minimum number of responses are not listed.

Press Coverage
the sun daily malaysia
About iBanding

Established in October 2016, iBanding comprises a team of members with over 15 years of experience in the insurance industry. iBanding, is an independent webpage that provides education about insurance and takaful.  Here is a short clip of what iBanding does to help Malaysian customers.

Past Award Winners and Rankings

Best Motor Insurance Malaysia 2021/22

  1. Etiqa Insurance – 81 points

  2. Tokio Marine – 80 points

  3. AmGeneral & Kurnia – 79 points

  4. Pacific & Orient – 77 points

  5. Great Eastern General – 75 points

  6. Berjaya Sompo – 75 points

  7. AIG Malaysia – 73 points

  8. AXA Affin – 72 points

  9. Allianz Malaysia- 72 points

  10. Lonpac – 71 points

  11. MSIG – 70 points

  12. RHB – 67 points

  13. Liberty – 66 points

  14. Zurich Malaysia – 65 points

  15. Tune – 63 points

  16. MPI Generali – 60 points

  17. Pacific Insurance – 57 points

Best Motor Takaful Malaysia 2021/22

  1. Syarikat Takaful Malaysia – 82 points

  2. Etiqa Takaful – 81 points

  3. Takaful Ikhlas – 77 points

  4. Zurich Takaful – 71 points

Best Motor Insurance Malaysia 2019/20

  1. Tokio Marine

  2. Etiqa General

  3. AXA Affin General

  4. Allianz Malaysia

  5. MSIG

  6. AmGeneral & Kurnia

  7. MPI Generali

  8. Great Eastern General

  9. Tune Insurance

  10. Zurich General Insurance

  11. Pacific Insurance

  12. Lonpac

  13. RHB Insurance

  14. AIG Malaysia

  15. Chubb

  16. Berjaya Sompo

  17. Liberty Insurance

  18. Pacific & Orient

Best Car Takaful Malaysia 2019/20

  1. Etiqa Takaful

  2. Syarikat Takaful Malaysia

  3. Takaful Ikhlas

  4. Zurich Takaful

Best Motor Insurance Malaysia 2017/2018

  1. Etiqa General

  2. Allianz

  3. MPI Generali

  4. Tokio Marine

  5. MSIG

  6. Liberty Insurance

  7. AXA Affin General

  8. AMGeneral & Kurnia

  9. AIG Malaysia

  10. Lonpac

  11. Zurich General Insurance

  12. Berjaya Sompo

  13. Great Eastern General

  14. RHB Insurance

  15. Tune Insurance

  16. Pacific Insurance

  17. Pacific & Orient

Best Motor Takaful Malaysia 2017/2018

  1. Syarikat Takaful Malaysia

  2. Etiqa Takaful

  3. Takaful Ikhlas

  4. Zurich Takaful

Best Motor Insurance Malaysia 2016/2017

  1. Allianz General Insurance

  2. Etiqa

  3. AXA Affin

  4. AmGeneral & Kurnia

  5. MSIG Insurance (Malaysia)

  6. AIA

  7. Zurich Insurance Malaysia

  8. RHB Insurance

  9. Lonpac

  10. AIG Malaysia

  11. Tokio Marine

  12. Berjaya Sompo

  13. Liberty, formerly Uni.Asia

  14. Chubb, formerly known ACE Jerneh

  15. Pacific Insurance, formarly MCIS

  16. Pacific & Orient

Best Motor Takaful Malaysia 2016/2017

  1. Syarikat Takaful Malaysia

  2. Etiqa Takaful

  3. Takaful Ikhlas

  4. Zurich Takaful, formerly known MAA Takaful