Friday, September 26, 2025
  • Hype
  • Murai
  • Lipstiq
  • Miss Murai
  • Varnam
  • Moviedash
  • Autofreaks
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zoneUpdated
    • ViewnetUpdated
    • Sri ComputersUpdated
    • StartecUpdated
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables
No Result
View All Result
Lowyat.NET
No Result
View All Result
Home Transportation

BNM Enhances Motor Insurance Claims For Faster And Fairer Settlements

One of the main changes is the reduced turnaround time for the claims.

by Keran
September 2, 2025
Insurance Claims

Image: Motorist Malaysia

91
SHARES
Share on FacebookShare on Twitter

When an accident occurs, the one thing that many worry about, other than the injuries and the damage to the vehicle, is the insurance claims. However, this may no longer be the case as Bank Negara Malaysia (BNM) has revised its Claims Settlement Practices Policy Document (PDCSP) to simplify procedures, improve service standards and accelerate approvals for motor insurance claims.

In a recent BFM podcast, BNM Deputy Director of Consumer & Market Conduct Department Lailatul Akma said that the bank has been working closely with insurers, the Ministry of Transport , JPJ, Puspakom as well as repairers to enhance consumer service and to improve and revise the document. From this process, one of the improvements that can be expected is a faster turnaround time for claims, which sets clearer expectations for insurance providers to simplify the claim process. “The revised policy has reduced the timelines for each stage of the claims process from claims notification until claims payment, including how quickly insurers have to get back to you so that you are not left waiting in the dark,” she said.

Insurance Claims
Image: Paultan.org

Lailatul further explained that the time taken for own damage claims has been reduced by 20 working days and for theft claims has been reduced by 80 working days. “So, we expect this will help to cut the average time taken to settle motor claims by about half,” she added. “On top of that, claims can now be made online via the digital roadside assistance (DRA) through your insurance app or website with just a few clicks.”

ALSO READ:  ShopeePay, Allianz General Unveil Insurance Plans; Priced From RM20

The revised policy also introduces a new requirement for insurers to establish a motor customer service charter. The purpose of this, according to Lailatul, is to provide a transparent guideline of the service motorists can expect from their insurers. She also added that the charter should be easily accessible by motorists, as insurers are required to publish it on their website.

Accident claims
Image: The Sun

“For example, you can find the service standard and turnaround time for the entire claim process in the charter, including applicable criteria and thresholds for expedited or fast-track claims,” she said. “So, with the charter, you can hold your insurer responsible and accountable if they do not adhere to their own standards and timelines or fail to keep you informed.”

She noted that all insurance companies are now required to provide 24/7 roadside assistance, either through their mobile applications or websites. This measure is intended to support motorists while reducing their reliance on unauthorised tow trucks after an accident. Lailatul also highlighted that many people are still unaware of the Own Damage Knock-For-Knock (OD-KFK) policy. Under this option, motorists with a comprehensive policy who are not at fault in an accident can make a claim directly through their own insurance provider. To do so, they simply need to submit a police report along with the required documents to their insurer.

(Source: BFM Podcast)

Filed Under bnminsurancePDCSP
Updated 4:06 pm, Tue, 2 September 25
https://lowy.at/e6yjw
Share36Tweet23SendShare

Follow us on Instagram, Facebook, Twitter or Telegram for more updates and breaking news. 

No Result
View All Result

TRENDING THIS WEEK

  1. 1
    News

    Here’s How The BUDI95 Verification At Fuel Pumps Work, Thanks To “Pak Cik Shell”

  2. 2
    Transportation

    MyKad Mechanism Confirmed For The RON95 Fuel Subsidy

  3. 3
    Automotive

    BUDI95 Eligibility Checks Open Online And At Petrol Stations Starting Tomorrow

  4. 4
    Mobile

    Xiaomi Pad Mini, Redmi Pad 2 Pro Launches In Malaysia; Starts From RM999

  5. 5
    Electric Vehicles

    Honda Unveils Its First Fully Electric WN7 E-Bike

NETWORK

  • Hype
  • Murai
  • Lipstiq
  • Miss Murai
  • Varnam
  • Moviedash
  • Autofreaks

ABOUT

  • Advertise
  • Careers
  • Privacy Statement
  • Contact Us
  • Editorial Policy
  • Terms & Conditions

©2025 VIJANDREN RAMADASS. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zone
    • Viewnet
    • Sri Computers
    • Startec
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2025 VIJANDREN RAMADASS. ALL RIGHTS RESERVED.

No Result
View All Result
  • News
    • Lifestyle
    • Computing
    • Hardware
    • Internet
    • Rumours & Leaks
    • Software
  • Forums
    • Kopitiam
    • Tradezone
    • Property Talk
    • Finance & Business
    • Fast and Furious
  • Gaming
    • PC Gaming
    • Console
    • Esports
  • Mobile
    • Apps
    • OS
    • Tablets
    • Phones
    • Telco
      • Celcom
      • DiGi
      • Maxis
      • Tune Talk
      • U Mobile
      • Buzzme
  • Pricelists
    • Compu-zone
    • Viewnet
    • Sri Computers
    • Startec
  • More
    • Automotive Tech
    • Drone
    • Enterprise
    • Entertainment
    • Fashion
    • E-Hailing
    • Wearables

©2025 VIJANDREN RAMADASS. ALL RIGHTS RESERVED.