As posted in my previous blog post, implementation of Motor Insurance Detariffication by Bank Negara Malaysia had started since 1st July 2017. This is a good move by BNM to improve the services by Insurance Company to their customers. If you had read thru my post on the Understanding of Detariffication, you will surely get what I meant.
As a customer, likely you would choose the Insurance Company that provide the cheapest premium. But certain customers would prefer the speed and conveniency of the renewal process, and some would go for the quality service. So..it really depends on the type of behaviour each customer has.
Customers’ Buying Behaviour are Changing!
It is really interesting to see that the behaviour on how customers buy motor insurance are changing from 15 years ago till to date. Plucking researches throughout the internet, I had came out a summary as below:
15 years ago – where we named it the traditional agents method, people are queuing up in agents office for their motor insurance renewal. During this time, most car / motor dealers are also insurance agent themselves. These are the places where you buy your car and get your insurance together with the loan from banks.
10 years ago – Gigantic Insurance Company had increased their branches all over and they get banks and Post offices to act as their agents too where renewal can be done at either of these places. With all these branches around, people will surely go for the nearest branch instead of travelling for some distance to reach the traditional agent.
5 years ago – where the internet is blooming, and everyone gets to access the internet where ever they are, the researches shows that more and more people are buying their motor insurance online instead of travelling to branches and spend time waiting for the queue. Of course, the first mover to have their web-based platforms to sell insurance directly online via their webpage will be those huge insurance companies like Etiqa Takaful or Takaful Ikhlas and soon those big agencies are coming up with their own web portal too. Small area of the customers starting to use the web portal renewal service.
Compared to 5 years ago, there has been a significant increase on the number of peoples renewing their car insurance and roadtax online. People now has more trust to the Internet. It is not necessary for them to travel for just a renewal of car insurance and roadtax. Everything can be done online, roadtax can be send right to your doorstep in just a few days time. Why do you still want to waste your petrol and time travelling and queuing ?
We have more than 25 years of experience in this line of general insurance and roadtax renewal service. If you would like to have your car insurance and roadtax renew online, please feel free to use our web portal here . There are step by step guidance on how to use our web portal for renewal in the page. If you need further assistance, you may use our live chat service (during working hours) available at our web.
Kem Yong Enterprise