03-Aug-23 11:00

Queenie Wong, Director for Customer Advisory, SAS Malaysia

The Malaysian life insurance market is poised for substantial growth, as recent studies forecast gross written premiums (GWP) to reach an impressive US$15.9 billion by 2027 (about 22.3% growth from 2022 GWP of US$13.1 billion). However, along with the promising growth in premiums, there is also concern of a potential rise in fraudulent claims. Allianz statistics reveal that motor insurance claims fraud alone costs RM1 billion per year, posing a significant challenge for insurance providers. We sit down with Queenie Wong, Director for Customer Advisory at SAS Malaysia and discuss how analytics help insurance companies better understand their customers.