Life is full of uncertainties for sure — one can have everything but lose it all unexpectedly in just a snap. One can never know what will happen next in their lives. That is why it is important to be prepared for the mishaps that may occur and minimize the cosmic damage these may cause.

Non-life or general insurance policy is any type of insurance policy other than a life insurance that provides coverage for an individual's life and fixed health benefits like critical illnesses. General insurance policy, on the other hand, covers people, properties, vehicles, health, travel, legal liability, and more, and usually provides annual contracts in which premiums have to be paid as a lump sum. This type of policy can cover partial or full payment for accidental losses. (Source)

One major benefit of buying a non-life insurance policy is having financial security from any financial troubles due to unforeseen events. It can give one peace of mind as they are ensured that their valuables are protected by their entrusted insurance provider. (Source)

Without insurance in place and the right insurer, unexpected damage expenses could cost an individual loads of money.

Choosing an insurance company also plays a crucial role in securing your own and your family's financial future. It requires trusting them with your hard-earned money. Therefore, it is of utmost importance that you make a wise and informed decision while selecting the appropriate insurer. Here is a list of what to look for when looking for an insurance company as a general insurance partner. (Source)

Is it transparent with its customers?

Transparency is crucial for gaining trust and promoting accountability with customers. The insurance company should provide clear and concise information about their policies, pricing, and coverage without any hidden information. They should explain the terms and conditions of their services to their clients in a language that is easy to understand. Transparent insurers are more likely to be trusted with sensitive and important information which can help the company craft policies that best fits an individual.  (Source)

What value-added benefits do they offer?

Non-life insurance companies usually offer value-added services that go beyond the premiums clients pay for. These extra services enhance base coverage of the policy that differentiate a company’s offerings from its competitors and benefit policyholders in many aspects of their life. It has four different categories which includes (1) self-service category which include services that equip customers with tools and techniques for insurance management, (2) advice and assistance provided by experts to clients in managing lifestyles, property, or funds, (3) anticipation of customer needs, and (4) collaboration and engagement that cultivates customer relationship. (Source)

Does it have good customer service?

When selecting an insurance company, it is essential to consider how they treat potential customers. You should evaluate whether the insurers are readily available to answer any queries you may have, whether it be on the phone or in person. Attending client concerns helps improve policy provision. (Source)

Is it financially stable?

When it comes to selecting an insurance company, it's important to look at their financial stability. Take a closer look at key indicators like total assets, market share, and growth ratio in new business premiums to determine whether the company has the financial capacity to meet your claims, if any arise. (Source)

Does it keep pace with the changing times?

For insurance companies to stay ahead in the market, provide exceptional customer experiences, manage risks efficiently, and comply with regulatory requirements, it is essential to modernize their technology.

By embracing contemporary technology, insurance firms can adapt to the ever-changing market dynamics, reduce costs, and position themselves for long-term success in a rapidly evolving sector. Addition to this, digitalization in their service ensures enhanced, convenient, and more secure experience for their clients. (Source)

How long have they been established?

It is important to consider its track record. Factors such as the number of years the company has been operating, the ratings of the company by independent rating agencies available on their websites, the effectiveness of their online platform, the amount of gross premiums written, and the overall reach and network of the company should be taken into account. These aspects can help you determine the reliability, credibility, and trustworthiness of the insurance company. (Source)

It is crucial to ask yourself these questions before making a final decision to ensure that you choose the right insurance company for you.

Take Malayan Insurance for example; Offering reliable and trustworthy non-life insurance service for 94 years—for nearly a decade—Malayan Insurance continues to give clients peace of mind through providing service excellence, quality insurance protection, and faster transactions today. In fact it has received numerous recognitions, awards, and favorable ratings for its strength and creditworthiness despite market fluctuation and natural disasters for many years.

To date, Malayan Insurance has a wide network of 35 branches and service offices in the country and is currently underwriting Motorcar, Personal Accident, Residential Fire and Travel, Aviation, Engineering, Property, Marine, and Miscellaneous Casualty Insurance, and Surety/Bonds. (Source)

For more information about their insurance services, visit https://malayan.com/ and make sure that your assets are protected starting today!