MII Virtual Classes
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Usage Based Insurance – Current and Potential Applications
18 August 2021

About The Course
In recent years, the development of telematics and connected vehicles has enabled usage based motor insurance to develop significantly around the world.

Combined with other society trends such as the sharing economy, it seems inevitable as vehicles become more and more connected that the popularity of usage based insurance with the market’s customers will accelerate.

In this programme, we will discuss how insurers around the world have developed usage based insurance products in the motor market, and how they are looking to develop other usage based products in other lines of business to increase revenue in the future.

Course Content:
• What is usage based insurance?
• Technologies which enable usage based insurance
• Success stories of usage based insurance around the world
• What’s next – how the insurance market can seize the opportunities of usage based insurance

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Parametric Insurance – Current and potential applications
9 September 2021

About The Course
Although the development of parametric insurance products is primarily explained by our ability to leverage digital developments such as the Internet of Things (IoT) and smart contracts, their future popularity is more likely to be based on the expectations of the 21st century consumers for speed and convenience.

As the products are also usually not based on the age old principle of indemnity they also challenge traditional insurance thinking.

This programme will discuss the parametric insurance products that are being developed around the world and what potential benefits similar insurance products may bring to customers.

Course Content:
• What is parametric insurance
• Key elements of a parametric insurance product
• Advantages and disadvantages of a parametric insurance product
• Examples of parametric insurance products around the world
• Risks to insurers and reinsurers of parametric insurance products
• Opportunities offered by parametric insurance products

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Four business interruption scenarios you should use to test and demonstrate the coverage provided under your customers’ business interruption insurance policies
22 September 2021

About The Course
The COVID-19 pandemic revealed the fact that many customers and indeed brokers do not always fully understand the benefits and limitations of traditional Business Interruption insurance coverage.

This programme will help identify and describe four different scenarios which could cause major interruptions to commercial customers, and which can be used to demonstrate both the benefits and limitations of conventional business interruption insurance coverage.

Key Learning Outcome:
• Purpose of property damage / business interruption insurance
• How business interruption is designed to work
• Key elements of business interruption insurance
• Four scenarios which demonstrate the benefits and limitations of business interruption insurance

Contact Info

The Malaysian Insurance Institute 197701004772 (35445-H),
Level 6, Bangunan AICB,
No. 10 Jalan Dato’ Onn,
50480 Kuala Lumpur, Malaysia 

Tel : +603 2712 8882

Email : customercare@mii.org.my

Customer Service Virtual Office: Open from 10:00 a.m. to 12:00 p.m., Mon-Fri

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