Extracts from the address of the Chairman,

Mr Eddie Lim

at the 4th Annual General Meeting held on 28th March 2003

NICS has successfully carried out several activities to benefit members from the claims fraternity within the industry.

The motivating factor for the formation of this Society was the need for a platform for Claims Managers and Claims Examiners in the industry to meet and exchange views concerning claims services and management, customer services, and other related matters such as issues concerning fraud and claims leakages. The Society is also intended as a conduit for members to interact and network effectively.

Since its formation four and a half years ago, the EXCO has concluded that the formative days are over as the Society has gain more recognition throughout these years as more colleagues have heard of this Society and its objectives. However, the EXCO is not prepared to rest on its laurels as there are still a lot to be done to fulfill the Society’s objectives.

For the term 2002 / 2003, we started off with a bang in that a seaport trip was organised and successfully concluded in August 2002. This educational trip to Westport in Port Kelang is in line with the Society’s commitment to provide continuous training and education to its members in the area of cargo handling and its related potential liabilities. The participants, a total of 44 from 16 insurance companies, had a first hand experience of the Port facilities.

In September, as part of the Society’s networking commitment, a cocktail reception was organised at the Equatorial Hotel for the Claims Managers and Claims Examiners. The highlight of this cocktail reception, was the presentation of the Claims Workflow Process in an attempt to impart and share knowledge and experience with other claims staff from the industry.

September also witnessed the Society’s 2 days Seminar on Fraud and Claims Investigation where 50 participants from 18 insurance companies met in a leading hotel in the City to attend this seminar. Distinguished speakers include, police officers from Bukit Aman, private investigators, lawyers and claims in-house investigators delivering their papers and experience. The seminar materials include the Fraud Indictors prepared and published by the Society for the benefit of the industry in the area of claims investigations and detection.

In October, the EXCO members of the Society was granted an audience with the new Director General of Insurance of Bank Negara, Mr. Donald Jaganathan, to a 2 hours courtesy call discussion with his team of senior Bank Negara officials. The exchanges touches on the aims and objectives of the Society, the role the Society can play in support of the Central Bank, PIAM and other related bodies. The cordial meeting concluded successfully in that Mr. Donald Jaganathan and his team has agreed to provide the moral support to enable the Society to achieve its aims and objectives. The DGI has also given the Society a Draft on the GPI 14 on Claims Settlement and Procedures for the Society’s feedback and view on the proposed amendments during the meeting.

In the month of November, 3 of the EXCO members were invited to Ipoh to attend the Federation of the Automobile Workshop Owners’ Association of Malaysia annual State Level meeting. The discussion, include the request by the Association to the Society on how to work together to come out with the best practices in vehicles repairs and claims settlement and procedures.

The following month, one of our EXCO member has been invited to deliver a paper on Best Practices to the Workshop Association training seminar held in K. L.

In the year 2003 in March, the EXCO members were granted an audience by the Director of Persatuan Insurans Am Malaysia (PIAM), Mr. C F Lim and his team for a two hours dialogue. During this courtesy call, the Society held discussion on Best Practices and exchange views on how the society can contribute to PIAM and the Industry effectively.

Mr. C F Lim of PIAM commented that he and his team are interested to pursue the area of training and education with the Society and we will work out how effectively this can be done.

The Society was formed with laudable intentions. However, for the Society to be truly effective it will require the members’ support and involvement. This is your Society and belongs to you. The Society’s 4th Annual General Meeting for the election of the new office bearers for the new term 2003/ 2004 will be held today. We hope that the new office bearers will continue to work hard to carry on the good work of the past office bearers in bringing the Society to greater heights in achieving our set objectives.

From experience, we know that running a Society is by no means an easy task. We face many constraints and heartaches from within the Society and the Industry. What makes us soldier on, is the firm belief and conviction that the Society will one day achieve its objectives and be part of an accreditation body to certify trained professionals for the Industry. We also begin to see many committed EXCO members who are prepared to contribute effectively to the Society having understood its aims and objectives. This is the source of inspiration and drives us further.

With the advent of globalisation, the development of a professional and highly competent claims management workforce, is paramount to any insurance companies’ operations as Claims Management and Services has taken on a forefront role in today’s hardening markets.

This will continue to be the case as claims settlement is a tangible transaction in this highly complicated service Industry which is not readily understood by the insuring public.