Etiqa - Poised To Become The People's Chioce

KUALA LUMPUR, Nov 15 (Bernama) -- Mayban Fortis Holdings Bhd, the insurance and takaful arm of Malayan Banking Bhd, is poised to reshape Malaysia's assurance landscape with the launch of its new brand, Etiqa.

In an industry where there is little product differentiation -- where agreements and policies are typified by triplicate and the use of jargons that are difficult to understand in small print -- Etiqa aims to make the process easier for people by being clear and transparent.

Etiqa will be the single master brand for all conventional and takaful businesses under Mayban Fortis.

In a statement here Thursday, chairman Tan Sri Mohamed Basir said that rising living standards and better education had resulted in a new breed of consumers with more sophisticated financial requirements and demanding needs.

"Today, they are not satisfied with just having great products and delivery channels. Sure, these factors remain critical but they now need to be complemented by strong brand affinity and brand values as consumers seek a relationship beyond their basic needs.

"More than ever, we need to be totally consumer-driven to give them that differentiated experience that will set us apart," he said.

Meanwhile, Mayban Fortis chief executive officer, Aminuddin Mohd Desa, said at the core of the Etiqa brand was the essence of humanising insurance and takaful.

He said with simplification and empowerment, Etiqa was able to offer value-added benefits such as RM1,000 advance for funeral expenses in times of bereavement, over-the-phone settlement for green lane claims, immediate general policy approval via Etiqa Oneline and claims processes that are faster than industry average.

"These qualities encapsulate our behaviour, the way we work, the way we treat our customers, and most importantly, providing our customers a whole new positive experience when dealing with us.

"At the same time, we want to change our customers' perception of insurance, and once again lead the wave of change," he said.

Buffet Style Investment

MOST people would know that Warren Buffett is one of the world's richest men. Most would also know that he is easily the most successful investor the world has ever witnessed.

As a result, many of us would like to know his secret in investing and what makes him so successful. Many of us would like to emulate him, if not in terms of investment performance, then, at least in terms of investing style. And yet in another sense, he is not that smart. Buffett has said that you do not need to have the IQ of Einstein or understand complex mathematical formulas in order to invest successfully.

One of Buffett many realisations were that “when you find a really good business run by first-class people, chances are a price that looks high isn’t that high. The combination is rare enough; it’s worth a pretty good price.” Hence his huge investments in stocks like Coca-Cola and other large corporations which was not cheap by conventional standards proves that cheap is not always best.

Many investors have blamed the BSKL or global stock market for losses or poor returns. Many have said that the Buffett investing style cannot be successfully applied. Many investors do not realize that the real culprit of their losses or poor performance is themselves. Do not get us wrong. We are not saying that stock market and the listed companies are perfect. But part of the fault also lies with the investing style of investors and perhaps also the investment philosophy or goals. As we usually tells our participants, be open and expand your knowledge in financial education so that you create better opportunities.

As quoted by Robert Kiyosaki in one of his many books, "There are two things you can invest, time and money. Since most people do not invest time, they lose their money."