Bank Negara demands insurance industry step up with tailored solutions for Malaysians

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Bank Negara Malaysia Nouvelles

Insurance Industry,Adnan Zaylani Mohamad Zahid

KUALA LUMPUR, Aug 28 — Bank Negara Malaysia (BNM) has urged insurance players in the country to continue advancing local insurance solutions specifically tailored to meet the...

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“Together, through these focused efforts, we can further strengthen the resilience of the ringgit and foster sustainable economic growth,” he said in his keynote address at the launch of the LIAM Starter Pack Insurance Fund here today. He added that LIAM’s role has been central in driving the awareness and financial education initiatives on life insurance to promote greater financial resilience for individuals and households through many initiatives.

“This also shows acceptance of life insurance products not just as protection, but also for medical coverage and investment purposes. “As we anticipate this positive trajectory to continue, it is crucial to build on this momentum by advancing structural reforms that will enhance our resilience, competitiveness and long-term growth prospects.

“In addition, many Malaysians are still deemed to have an inadequate level of protection against life shocks, serious illnesses and death. To address these intertwining challenges, Adnan Zaylani said a multi-faceted approach is critical, of which focus should be channeled towards enhancing financial education, simplifying product offerings and cultivating continuous trust-building actions.

 

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