iBanding Services Sdn. Bhd., an independent knowledge-based company that provides transparent insights about the local insurance industry, today awarded Syarikat Takaful Malaysia and Allianz Malaysia for the Best Motor Takaful Company and Best Motor Insurance Company in 2016 respectively. The awards are based on the results of a study conducted by iBanding, which ranked insurance companies in Malaysia on actual feedback from Malaysian motor vehicle drivers.
(L-R) Dato’ Sri Mohamed Hassan Kamil, Group Managing Director of Syarikat Takaful Malaysia, accepting the Best Motor Takaful Company 2016 award from Luke Roho, Co-Founder of iBanding
The study revealed that both Takaful and Conventional Insurance policy holders cited quoted price, quality of service and policy benefits as top considerations for recommending a preferred Insurance provider. Both Syarikat Takaful Malaysia and Allianz Malaysia were cited as top Insurance providers in 2016 to meet such a criteria.
The Motor Insurance Awards by iBanding comes at a time when the motor insurance industry is preparing for Motor Detariffication, where motor insurance prices will no longer be regulated by the Central Bank. This means that insurance companies will be able to set their own prices and offer a variety of differently priced services to consumers.
iBanding’s yearly ranking of motor insurance companies for both Takaful and Conventional motor insurance provides consumers with the knowledge and confidence to choose the best insurance company that is right for them after Motor Detariffication is implemented.