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Malaysia Medical Insurance Organisation (MMI) News & Events and Video for Malaysia Medical Insurance and Health Insurance information and Malaysia Insurance Latest Update

INSURANCE COMPANIES AND HEALTHCARE SECTORS ARE URGED TO LEVERAGE BUSINESS CHALLENGES AND OPPORTUNITIES TO DRIVE GROWTH

12/May/2011
INSURANCE COMPANIES AND HEALTHCARE SECTORS ARE URGED TO LEVERAGE BUSINESS CHALLENGES AND OPPORTUNITIES TO DRIVE GROWTH
Thursday 12/05/2011
KUALA LUMPUR, 13 May 2011 -

There is a growing need in both the healthcare and tourism with the introduction of medical travel. With Malaysia offering a number of advantages in terms of availability of private hospitals, better pricing and world-class quality services and offerings, this new potentially growing industry will boost the economy with the attractive number of foreigners visiting the country for health purposes. There has been a growth of foreign medical visitors around 30 – 35% per year recently, with an estimated 374,063 visitors in 2008.

This is where the insurance industry should take hold on the growing opportunity in the healthcare industry. There is a great potential for strong business and revenue growth, considering the potential new products that can be developed and new marketing strategies that can be implemented to take advantage of new development for the benefit of the nation and at the same time creates a long term competitive advantage for the company towards becoming the market leader”, commented The Malaysian Insurance Institute’s (MII) Chief Executive Officer, Khadijah Abdullah.

This new development is one of the topics that will be discussed at the FAIR International Health Insurance Conference 2011 which is co-organised by The Malaysian Insurance Institute (MII) and the Federation of Afro-Asian Insurers and Reinsurers (FAIR) on 6 and 7 June 2011 in Kuala Lumpur.

According to Suresh Ponnudurai, Chief Executive Officer of Malaysia Healthcare and also one of the speakers at the conference, "Medical tourism is enabling people the choice of health care services in different destinations both local and global at prices that meet one’s budget. Currently, insurance companies have found this opportunity to retain members by offering family trips to cheaper destinations for treatment. And the public has the opportunity to benefit from the services offered by insurance companies”.

In-line with its theme, "Leveraging Business Challenges to Drive Growth” the conference will focus on the areas of health tourism, health market, business development, strategic management, claims and underwriting discipline, marketing, regulation and consumer. 12 world-renowned practitioners from the insurance and medical fields will gather at the event to speak on the various key topics namely, "Taking health to the next level with medical tourism for insurers”,” Future system development / medical technology required for health claims or underwriting”,” Meeting the protection needs of the next generation” and "The product development and underwriting challenges” as to name a few.

The conference which is expected to attract 150 local and international participants will serve as a meeting of minds for those involved in the insurance and medical fields. Participants will have the opportunity to network with international experts besides discussing pertinent issues on health insurance with fellow industry members.

To find out on how you can participate in this conference, please contact MII Conference Department at 03-2087 8882 and speak to Fazlan (ext. 364), Azizi (ext 262) or Hairul (ext 250), or visit the MII website at www.insurance.org.my

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