tip (latest)

24
Toyota Insurance Package

Upload: hafidzy-haidzir

Post on 24-Oct-2014

141 views

Category:

Documents


4 download

TRANSCRIPT

Toyota Insurance Package

Team Members in Motor Franchise &Dealers Dept.

Deputy Chief Executive Officer : Mr Jayakumar

Technical Advisor : Mr Akira Kanetake , Mr Kota Arai

Asst. General Manager : Ms Audrey Fun

Marketing

Senior Manager : Mr Choong Yoon Hee,

Manager : Mr Jazrul Fuad

Ms Ashley Chan, Ms Vivienne Tang,

Executive : Ms Jalina, Mr Heng Wen Siang, Ms Nur Hidayahtul Akma, Ms Mandy Fan

Ms Veronica Len

Team Members in Motor Franchise &Dealers Dept.

Administration

Manager : Ms Chang

Office staff : Ms Diane, Ms Mahani, Ms Jamilah, Ms Suk Yin, Ms Bani, Ms Azzreen, Ms Fiza, Mr Izzi, Mr Afiq

Office Number

03-2783-8383

Tokio Marine Insurans (Malaysia) Bhd

Head Office

29th – 31st Floor, Menara Dion, 27 Jalan Sultan Ismail, 50250 Kuala Lumpur.

No. of Branch

23 Branches

Paid-up Capital

RM278,000,000.00 (as at Dec 2008)

Total No. of Employees

840 (as at Feb 2009)

Gross Premium (2009)

RM700,000,000

Tokio Marine Insurans (Malaysia) Bhd

History

1957 Started business in Malaysia(United Prime → Berjaya General Insurance)

1999 Acquired Wing On General and change name to Tokio Marine Insurans(Malaysia) Bhd

2002 Acquired Amanah General Insurance

2007 Acquired Asia Insurance

2009 Acquired Pan Global Insurance

Benefits of Toyota Insurance package

Benefits of Toyota Insurance Package

• No Loading & No Excess

• 24 Seven Road Assist

• Speedy Claim & Genuine Parts

• Betterment

• Agreed Value

24 Seven Road AssistBasic

CustomerAll the buyer of

UMW Toyota

Free towing limit Up to RM250

Home assistance service

Not available

Privilege

Those who renew insurance with Panel insurer

Up to RM400

available

What is Home Assist?A nationwide 24hours 365days a year emergency helpline you can rely on. Call center can dispatch a reliable contractor to you.

For Example : Plumbing service, Locksmithing, Roof repair, Electrical wiring, Air-Conditioning service

In the event of an accident or breakdown, please call:

Hotline: 1-800-888-247

Toyota 24Seven Road Assist Call Centre

When making a call, please provide:1. Your Personal Particulars.

2. Your Immediate Contact Number.

3. Particulars of Your Vehicle.

4. Nature of Call (Accident / Breakdown / Enquiries)

5. Particulars of Incident or Enquiries.

No Excess, No LoadingGuaranteed for Toyota cars up to 10 years old• In the market, some insurance companies impose excess

and/or loading for certain model

What is Excess?Example:

Your car met with a traffic accident and the repair cost is RM2,000.00 however there is excess RM600 (1% excess of Sum Insured)

RM1,400

Borne by Insurance Company

RM600

Borne by insured

No LoadingSome insurance companies impose loading on the premium. It is additional premium charge on top of gross premium

Example:

Premium - RM1,500.00Loading 5% + RM 75.00Total Premium - RM1,575.00

What is compulsory excess?

If any person mentioned below drive a car and meet an accident, compulsory excess of RM400 will apply.

Under the age of 21 years old

Who is the holder of a Provisional(L) driving license

Who is the holder of a Full driving license of less than 2 years

Who is not named in the schedule

Efficient & Equivalent Claim Settlement• Accident Repair Claim

< RM10,000.00No Adjuster is required. Proceed to repair after consultation with Tokio Marine’s personnel.

> RM10,000.00Adjuster will be appointed by UMW Toyota within the day or not exceeding 48 hours after survey, authorized repairs on the spot.

> RM20,000.00Adjuster prepares & submits report within 5 working days to Tokio Marine. Within 2 days, after viewing adjuster’s report, approval letter will be issued to commence repair.

• Theft Claim

Claim settlement period: 3 months (Subject to full required documents submitted)

According to Normal scale: 15%

RM1,500 x 15% = RM225 Customer pay

Normal Scale

Age of Vehicle Percentage %

1 – 4 years 0%

5 15%

6 20%

7 25%

8 30%

9 35%

10 & above 40%

TIP Scale

Age of Vehicle Percentage %

1 – 6 years 0%

7 15%

8 20%

9 25%

10 30%

11 35%

12 & above 40%

Improved Betterment Scale

Example:

Car – Toyota Vios

Age : 5 years old

Damage : Bumper

Replacement cost : RM1,500But if it is TIP scale, up to 6 years no betterment applies→Customer no need to pay

Agreed Value

Months

1 - 3

4 - 6

7 - 9

10 - 12

13 - 15

16 - 18

19 - 21

22 - 24

% of New Vehicle Sum Insured

100%

97%

94%

90%

87%

85%

82%

80%

Basic Knowledge in Insurance

• Documents Required for submission

• Procedure to Obtain NCD

• Premium Scale

• Premium Calculation

• Average Clause

• NCD Scale

1. e-Cover Note

2. Duly Signed Proposal Form

3. Registration Card

4. MyKad & Driving License

5. NCD Documents (if applicable)- Original NCD Endorsement

Documents Required for Submission

Procedure to obtain NCD Either one of the documents as mentioned below is required to obtain NCD

1) Cancel Previous Policy (Cancel Before the Inception Date)Documents Required are: i. Original Certificate of Insuranceii. Authorisation Letter for Cancellation of Previous Policyiii. MyKad

2) Withdrawal of NCD from Previous Policy (Withdraw Before the Inception Date)Documents Required are: i. Copy of Policy Scheduleii. Authorisation Letter To Withdraw NCD from Previous Policyiii. MyKad (Optional)

3) Provide Renewal Notice

4) Provide Expired Previous Policy (Expired Before the Inception Date)

5) Provide NCD Endorsement (Require Original Copy)

Procedure to obtain NCD

Short payment will occur if withdrawal of NCD is after the Inception Date

Very Important To withdraw NCD before the Registration of New Vehicle

1/1/11 31/12/1115/1/11

14365

x RM1,125.02 = RM 43.20Amount of 55% NCD

of Sum Insured RM70,000 and cc 1.5

Premium ScaleCubic CapacityNot Exceeding

Comprehensive Third Party

1400 RM225.20 RM72

1650 RM251.50 RM81

2200 RM277.90 RM90

3050 RM304.20 RM99

4100 RM330.50 RM108

4250 RM356.80 RM117

4400 RM383.20 RM126

Over 4400 RM409.50 RM135

RM26For each RM100 or part thereofon value

Premium CalculationSum Insured : RM70,000

1st ThousandRM 251.50

69,000 x RM26RM 1794.00Basic Premium RM 2045.50Add: Loading / Surcharge ___ % RM -Less: No Claim Discount 55 % RM 1125.02

Sub-TotalRM 920.48OPTIONALLLOP RM -LLP RM -All Drivers / Additional Driver RM -Windscreen : Sum Insured RM 800 RM 120.00Strike, Riot & Civil Commotion RM -Flood RM -Others RM -

Gross Total (*)RM 1040.48Add: Service Tax (5% of Gross Total (*) If applicable) RM -Stamp Duty RM 10.00Gross Premium Payable RM 1050.48

Identify 2 criteria

a) Sum Insuredb) Cubic Capacity

• Example Toyota Vios

• Cubic Capacity 1495

• Year of Make 2007

• Market Value RM 70,000/-

Average Clause

What happens if customers vehicle is under insured?

Market Value : RM100,000Sum Insured : RM70,000Partial Loss Amount : RM10,000

Average Formula:

Sum Insured------------------- x Loss AmountMarket Value

RM70,000 ---------------- x RM10,000 = RM7,000RM100,000

We Pay = RM7,000Customer Pay = RM3,000

Private Car

Scale of No Claim DiscountPeriod Discount

After the first year 25%

After the second year 30%

After the Third year 381/3%

After the Fourth year 45%

After five or more 55%

THANK YOU