Insurance

Associations Launch Code To Boost Consumer Confidence In Insurance, Takaful Industry

By Nurunnasihah Ahmad Rashid

The Code of Practice on Personal Data Protection Act (PDPA), launched, is expected to further boost the consumer confidence in the integrity of the insurance and takaful industry.

The code is an initiative by three associations — Life Insurance Association of Malaysia (LIAM) Persatuan Insurance Am Malaysia (PIAM) and Malaysian Takaful Association (MTA) — to set up strict procedures to safeguard the use of personal data in the life, general and takaful insurance.

LIAM President, Toi See Jong, said under the PDPA, the consumer’s data would be properly capped, accurate and protected.

“Previously, the company individually applied the code of practice, but now we consolidate and put in together to ensure it is a consistent practice by the industry players.

“We (LIAM, PIAM, MTA) worked closely for almost one year to come out with the code, so that all the players will have the same practices, otherwise, it may be different in terms of how they handle the confidential customers’ data,” he told Bernama after the code’s launch and signing ceremony here today.

He said continuous training would be provided for all the insurance and takaful staff, especially the frontliners.

“Apart from the requirements under the code, all insurance companies and takaful operators have to put up privacy notices to their policyholders and potential customers through various media such as websites, letters or announcements,” he said.

— BERNAMA

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