Dalila Hashim

🌟 Rising Insurance Premiums: A Wake-Up Call for Indian Healthcare and Insurance Industry! 🌟 Malaysia is grappling with skyrocketing insurance premiums, with insurers blaming rising hospital costs and claims. 🏥💸 But a deeper look reveals a systemic issue: the same procedure costs nearly double when billed through insurance compared to self-paying customers! 🤔 This brings us to India 🇮🇳—are we facing similar challenges? Let’s unpack: 🔹 Rising Premiums: Families are struggling to afford health insurance renewals due to increasing costs. 🔹 Inflated Hospital Charges: The gap between cash-paying and insured patients' bills is a concern, hinting at unethical pricing practices. 🔹 Systemic Risks: If unchecked, this could lead to delayed treatments, canceled policies, and eventually a broken healthcare ecosystem. 💡 What needs to change? ✔️ Transparent and standardized pricing for medical procedures. ✔️ Stronger governance and accountability from both insurers and hospitals. ✔️ Innovative, customer-centric products that ease affordability. ✔️ Collaboration between stakeholders to fix systemic inefficiencies. This isn’t just about healthcare or insurance—it’s about sustainability, ethics, and governance. 🌍 If we claim to be customer-centric, why are families left struggling? 🤷‍♂️ It’s time for a collective rethink to ensure healthcare remains accessible, affordable, and ethical for all. 🛡️ What are your thoughts? Are we heading towards a similar crisis? Let’s discuss! 💬👇 #Healthcare #Insurance #ESG #CustomerCentric #Strategy #India #Innovation #Sustainability

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Good commentary but sentiments aside - there is ZERO justification of the deal in terms of the go forward strategy and what Allianz brings to the table. The structure of the deal in and of itself is appalling - Allianz as majority shareholder will be calling the shots period. All this deal does is for shareholders to cash in on their chips- there are other mechanisms to allow this to happen instead of selling Income. Income - stay home, remain local and look after the insurance needs of all Singaporeans - you can do it as there is enough talent and capital in our country to help you to do what is right.

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Whenever I asked newly joined Life Planner of why they choose to join AIA full time, their answer is mostly about the income, the commission, the scheme and the bonus which in short, they're motivated to join because of money. Of course if I put myself in their shoes, I will answer the same thing too. But as a AIA trainer and a coach, it's part of my responsibilities to inspire them to think further. So normally after listening to their answer, my next question is always: What you plan to do with the money? There's where you started to see different answers coming out - some plan to use it to clear debt, some want to bring their parents to travel or to Umrah, some thinking to earn more to get married. That's where I will tell them that money is just a tool that helps you fulfill your dream. Keep these dreams as your goal and continue to motivate yourself that you're working hard not because of the money, but to shorten the time so that you can live with less financial headache, go travel with parent comfortably and give your loves one a memorable wedding. As a trainer and coach, we don't just provide training, but we also play a role to help our new Life Planner to understand how important is their dream, and to achieve all their dream and goals with solid financial foundation. What we do is more than just train, we inspire too.

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12 Days More To Go for SCI's Climate and Environmental Risk Management in ASEAN : Foundation Certificate. 📅 29, 30, 31 July 2024 💻 Online Course (Virtual) - 9.00 a.m. to 5.00 p.m. (Singapore Time) 🌴10% group discount for three (3) or more participants from the same company.🌴 What will you get from this course? An in-depth understanding of the insurance mechanisms designed to combat the impacts of environmental changes on economies, particularly focusing on Cambodia, Laos, Indonesia, Philippines, Thailand, and Vietnam. ENTRY REQUIREMENT: Candidates are required to complete this Foundation Micro-Cert before taking the country-specific Climate Risk Management and Environmental Risk Management. This Foundation Certificate is the first Micro Certificate of APID Module 2. Participants who have completed Module 1 and Module 2 of the APID will be awarded an APID Certificate by the ASEAN Insurance Council (AIC) and ASEAN Insurance Education Committee (AIEC). For more information, please click on this link: https://lnkd.in/gqD3w7Uy Registration: https://lnkd.in/g6DXJPQm Perry Tan #asean #diploma #climate #environmental #APID #insurancetraining

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[𝐑𝐞𝐯𝐢𝐬𝐢𝐨𝐧 𝐨𝐟 𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐈𝐥𝐥𝐧𝐞𝐬𝐬 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧] Do you know that most insurers in Singapore follow the CI (Critical Illness) definition that is determined by LIA (Life Insurance Association) of Singapore? LIA periodically revises the CI definition for a couple of reasons: (1)    Enhance clarity of the respective definitions (2)    Alignment with advances of medical technology Last revised version was 2019 (https://lnkd.in/gDK5uTCb), and the main reason for the revision in 2019 have also been explained by LIA themselves: “𝘛𝘩𝘦 𝘤𝘩𝘢𝘯𝘨𝘦𝘴 𝘮𝘢𝘥𝘦 𝘵𝘰 𝘵𝘩𝘦 𝘊𝘳𝘪𝘵𝘪𝘤𝘢𝘭 𝘐𝘭𝘭𝘯𝘦𝘴𝘴𝘦𝘴’ 𝘥𝘦𝘧𝘪𝘯𝘪𝘵𝘪𝘰𝘯𝘴 𝘢𝘯𝘥 𝘯𝘢𝘮𝘦𝘴 𝘢𝘳𝘦 𝘮𝘦𝘢𝘯𝘵 𝘵𝘰 𝘦𝘹𝘱𝘳𝘦𝘴𝘴 𝘵𝘩𝘦 𝘪𝘯𝘵𝘦𝘯𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘤𝘰𝘷𝘦𝘳𝘢𝘨𝘦 𝘸𝘪𝘵𝘩 𝘨𝘳𝘦𝘢𝘵𝘦𝘳 𝘤𝘭𝘢𝘳𝘪𝘵𝘺, 𝘴𝘰 𝘵𝘩𝘢𝘵 𝘤𝘶𝘴𝘵𝘰𝘮𝘦𝘳𝘴 𝘥𝘰 𝘯𝘰𝘵 𝘮𝘪𝘴𝘶𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥 𝘸𝘩𝘢𝘵 𝘪𝘴 𝘣𝘦𝘪𝘯𝘨 𝘤𝘰𝘷𝘦𝘳𝘦𝘥 𝘢𝘯𝘥 𝘸𝘩𝘢𝘵 𝘪𝘴 𝘯𝘰𝘵. 𝐓̲𝐡̲𝐞̲𝐫̲𝐞̲ ̲𝐢̲𝐬̲ ̲𝐧̲𝐨̲ ̲𝐜̲𝐡̲𝐚̲𝐧̲𝐠̲𝐞̲ ̲𝐭̲𝐨̲ ̲𝐭̲𝐡̲𝐞̲ ̲𝐢̲𝐧̲𝐭̲𝐞̲𝐧̲𝐝̲𝐞̲𝐝̲ ̲𝐬̲𝐜̲𝐨̲𝐩̲𝐞̲ ̲𝐨̲𝐟̲ ̲𝐜̲𝐨̲𝐯̲𝐞̲𝐫̲𝐚̲𝐠̲𝐞̲, 𝘸𝘩𝘦𝘯 𝘤𝘰𝘮𝘱𝘢𝘳𝘦𝘥 𝘢𝘨𝘢𝘪𝘯𝘴𝘵 𝘵𝘩𝘦 𝘥𝘦𝘧𝘪𝘯𝘪𝘵𝘪𝘰𝘯𝘴 𝘰𝘧 2014.” (https://lnkd.in/gSvda4Bk) Heads-up, the definition will be revised again in 2024, and insurers are expected to implement Version 2024 definitions by July 2025. Some questions that are often raised by consumers: a.      Does this affect my existing CI coverage that I purchased previously? No, your contractual rights will not be affected. b.      Is it necessary to top-up my CI pay-out before July 2025? It depends, do not feel obligated to do so. Purchasing decision should be based on needs and not because of updated directions. Based on my personal assessment, LIA is again enhancing clarity of definitions, with minor changes to some to reflect advances in medical technology. I do not think this is detrimental for future consumers. Conversely, this protects consumers against vague and erroneous contractual terms. Feel free to read the comparison (2019 vs 2024) here. Link here: https://lnkd.in/gmiF4jzq 𝐖𝐢𝐭𝐡 𝐭𝐡𝐚𝐭, 𝐡𝐞𝐫𝐞 𝐚𝐫𝐞 𝐬𝐨𝐦𝐞 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧𝐬 𝐭𝐡𝐚𝐭 𝐈 𝐰𝐨𝐮𝐥𝐝 𝐥𝐢𝐤𝐞 𝐭𝐨 𝐚𝐬𝐤 𝐲𝐨𝐮: Do you have clarity on what your portfolio entails? Are you clear of your contractual rights for pay-out and claims? Do you know what to do if you feel that you are eligible to get a pay-out / make a claim? Feel free to reach out to me to conduct a private and confidential audit of your existing portfolio. Photo Credits: Income Insurance

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Malaysian health insurance. As a consumer, dont have a great relationship with these providers. Both my wife and daughter have had big challenges which have caused our family both stress and financial impact. we need to address what is being allowed to perpetuate here - aggressive premium hikes, lack of portability freedom, and under-insurance - all with impact to consumers. I sense and hope that this will open up malaysia to more international insurance competition, which I hope, will improve overall integrity and cx. My further comments are under Shu-Tze Tan 陈.舒芝's post.

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Claim Settled for FWD Takaful Policyholder A client's foresight in starting a critical illness policy with FWD Takaful in May 2021 turned out to be a wise decision. With a manageable monthly contribution of RM92, they were covered for the unexpected. Fast forward to January 2024, the client sadly passed away due to respiratory issues. The good news is that FWD Takaful swiftly approved the death claim, amounting to RM39,908, which will be directly transferred to the named beneficiary—no complications, no hassle. Takaful isn't just about coverage; it's about smart saving and peace of mind, knowing your loved ones are taken care of. #TakafulBenefits #SmartSaving #PeaceOfMind

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Missed our latest webinar on Parametric and its application? Catch up now !! Watch the replay as our expert shares the latest development and success story.

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All my heartfelt support for the amazing people of Lao PDR. It’s amazing to see the solution we worked so hard on last year working to support so many people & their communities. This demonstrates the real value of the insurance industry & the vital role we play in people’s lives. #seadrif #parametricinsurance #riskmanagement

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It's worrying to see insurance and takaful becoming more profit-focused than service-oriented. Rising premiums, reduced benefits, and complex policies are making it harder for people to get the protection they need. We need greater transparency and a renewed focus on customer well-being in these industries. #insurance #takaful #consumerprotection"

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Malaysians have just being hit by a tsunami of double and triple-digit percentage increases in medica insurance premiums. Insurance companies like Allianz, AIA Prudential plc, and GREAT EASTERN blame rising hospital costs and claims. Meanwhile, a health think tank blames Bank Negara Malaysia for the late directive for insurers to review their repricing strategy for a more reasonable increase in premium. But here’s the question: the same procedure costs RM 10,000 for a self-paying customer, yet RM 20,000 when billed through insurance. What is the cause of a 100% difference between the two? If insurance companies are willing to pay the ‘marked-up price,’ the hospitals will continue to be ‘encouraged’ to do so. How is that ethical? Are we funding inflated systems at the expense of consumers? If this is about ESG, where’s the governance to ensure ethical pricing? And if it’s customer-centric, why are families struggling to keep policies alive? This isn’t just a healthcare issue—it’s a wake-up call. Who is benefiting here?! How would KPJ Healthcare Bhd, IHH Healthcare, Sunway Medical Centre and the like explain this? While the finger-pointing is happening, people are suffering. Some have delayed treatment, and others have cancelled their policies. We are facing a MAJOR SYSTEMIC issue!!! If this is not addressed promptly, we risk ending up with a broken healthcare system, which could lead to a broken society similar to what some developed countries are currently facing! Let’s hear your thoughts on this. #Healthcare #Insurance #business #sustainability #strategy

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The 1st ASEAN Professional Insurance Diploma (APID) Academic Committee Meeting 2024 The 1st ASEAN Professional Insurance Diploma (APID) Academic Committee Virtual Meeting was held on 10 June 2024. The academic committee, composed of AIC training providers, has chosen Perry Tan as the Chairperson. Perry currently serves as the Head of Technical Training Department of Singapore College of Insurance (SCI). The Academic Committee is happy to note that the Micro-Certificates of Module 1: ASEAN Insurance Market Practices (Underwriting and Claims) from Indonesia, Malaysia, Philippines, Singapore and Thailand were completed in the first half of the year. Module 2: Climate Risk Management and Environmental Risk Management in ASEAN will be delivered starting with the Foundation Certificate which will be held on 29, 30, and 31 July 2024. This Foundation Certificate is SCI’s cutting-edge course on climate and natural catastrophe insurance, tailored for professionals navigating the complexities of climate risks and natural disasters in Southeast Asia. This program provides an in-depth understanding of the insurance mechanisms designed to combat the impacts of environmental changes on economies, particularly focusing on Cambodia, Laos, Indonesia, Philippines, Thailand, and Vietnam. For more information and to register, please click on this link: https://lnkd.in/g6DXJPQm #SCI #APID #climateriskmanagement #environmentalriskmanagement

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In Indonesia, roughly half of who is considered insurance literate ended up buying the product, while leading insurance players’ current operations are concentrated in few major provinces. Those nuances are hard truth the market is facing and it calls for solution from every stakeholders so the growing population and economy of Indonesia could get the protection they and their family deserve. It was a pleasure to speak with Yashish Dahiya, Co-Founder of Policy Bazaar & Group CEO at PB Fintech, and Roopa Malhotra, Head of Customer & Digital, Asia Pacific at Zurich Insurance and discuss how various stakeholders can work together to close protection gap in our region through multi-faceted approach that involves education, government support, industry innovation and consumer awareness. You can watch the full episode below… #insurance #protectiongap #innovation #emergingrisks #insuranceawareness #ZurichInsurance #ZurichIndonesia #ZurichTopasLife #createabrighterfuturetogether

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Dear actuarial friends and connections, especially Malaysian. I am giving a talk on diversity next month and I would really love it if you can fill out a 5 minute anonymous survey (unless you have any case studies you would like me to highlight). This will really help me a lot. Doesn't matter if you are a qualified actuary, analyst taking exams, or an actuarial graduate who decided to work in an unrelated field. I really want to hear your experiences. The big picture is: 1. We need to ensure under represented communities are aware of how amazing actuarial science is. 2. We need to ensure there are actuarial programs in universities catering to under represented communities. 3. We need to celebrate employers who encourage diversity. Of course no one purposely focuses on one group or community to the detriment of another, but the devil is in the details, which is what I hope to dig into through the survey. Thanks so much!!! #SOA, #IFOA, #actuaries, #diversity #DEI https://lnkd.in/gcNkzY-j

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Many years ago, someone from AIA insurance company approached me about joining their team in the insurance industry. Although a career in insurance was never part of my plan, I politely declined. However, this individual’s unwavering persistence inspired me. I truly admire his determination and attitude. Like many others, I often feel wary when approached by agents trying to sell products, especially since I already have coverage. I'm inundated with calls and messages from agents introducing themselves with lines like, "Hi Pauline, I'm Audrey from Prudential, a new service agent. Are you free to catch up?" I typically don’t respond, as these messages often feel indistinguishable from one another. This highlights an important truth: if you’re in the insurance industry and aim to sell your products, how you engage your audience is crucial. Capturing their attention is vital if you want to inspire responses. By adjusting your approach—perhaps sharing exciting promotions in food and beverages or enticing travel deals—you could ignite their interest. Building familiarity with your clients is essential; rushing to sell can deter them. Securing contracts requires both strategy and dedication. If you're targeting large corporations, remember they usually have their own agents and are hesitant to change suppliers. Therefore, forging relationships with well-connected individuals is key, along with your persistence in maintaining contact with potential clients. Every industry has its challenges; we often hear that sales are struggling and that we must push harder. No sector is without its difficulties, and corporate professionals face unique trials in their quest to excel. Ultimately, finding the right fit within an organization can be transformative and play a significant role in a company’s success.

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