Between October 2017 and January 2018, over 8,600 Malaysians have shared their experiences with their motor insurance in an independent online survey, conducted by ibanding.my, that ended on January 31st, 2018. The survey has allowed us at iBanding to analyze all the responses gathered in order to identify the Best Motor Insurance and Takaful companies in Malaysia and produce rankings of insurance and takaful companies based on satisfaction level of the Malaysian vehicle owners.
Based on this study, Etiqa Group and Syarikat Takaful Malaysia Bhd (Takaful Malaysia) emerged the winners of the 2017/2018 Motor Insurance Award. An annual award that is given out to the top insurance and takaful companies as recognition of their degree of excellence and effort in customer satisfaction
Commenting on the rankings, iBanding Chief Executive Officer Luke Roho said: “The rankings of motor insurance and takaful companies provide transparency to Malaysians on which insurance companies provided the best service. Malaysia has over 20 companies that sell motor insurance. The rankings can help consumers in their decision to select the right company for them.”
He also emphasised that price is not the only factor consumers should look at when selecting an insurance provider. “The services that companies provide, especially during claims, are also important. This is why the Motor Insurance Award and insurance ranking take into account the claims experience of the drivers. They can help consumers decide which insurance company to choose. Etiqa and Takaful Malaysia have done an outstanding job in providing excellent service to its customers, which we recognize through the awards. ”
In the motor takaful category, Syarikat Takaful Malaysia ties with Etiqa Takaful Bhd at number one with 88 points. This is the second time Syarikat Takaful Malaysia wins the Motor Takaful Award. Malaysia has 4 Takaful companies that sell Shariah compliant Motor Insurance. The other two companies are Takaful Ikhlas and Zurich Takaful.
In the conventional insurance category, Etiqa Insurance Bhd ranked number one out of 17 companies. Second place is taken by Allianz Malaysia Bhd, who was ranked first last year.
“We are truly delighted to be named the winner of these two prestigious awards, not only for Motor Insurance, but also for the Motor Takaful. At Etiqa we have always recognized the importance of providing exceptional customer service, and it’s an honour to be held in such high esteem by consumers. You can be sure that we will continue with our efforts to ensure that dealing with Etiqa is fast and easy, whether it’s through our claims processes, sales processing or post sales servicing.”
Kamaludin Ahmad, CEO Etiqa Group Insurance & Takaful
“We are pleased to be recognized as the nation’s top choice for motor takaful for the second consecutive year. This recognition reflects the consumers’ approval of our motor takaful product and validates our brand as the preferred choice for insurance. Winning the award for the second time in a row gives us an advantage to further instate confidence and trust amongst the public. This is a good platform for us in getting the word out and entice car owners to make the switch to Takaful Malaysia to enjoy the great benefits and excellent customer service experience that we offer.”
Dato’ Sri Mohamed Hassan Kamil, Group Chief Executive Officer of Takaful Malaysia
Malaysia has over 20+ conventional insurance companies and 4 Takaful companies that sell motor insurance. It can be difficult to find the right company that fits you the best. iBanding’s Annual Ranking helps you compare how the companies have been voted by over 8,600 Malaysian in our annual motor insurance survey.
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.
The award is announced alongside the ranking of the Insurance and Takaful companies. The goal is to provide the Malaysian consumers with independent information to help them decide from which insurance company to buy their motor insurance.