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The initial phase of liberalization of motor and fire tariffs, enacted on July 1, 2016, aimed to evaluate its impact on insurance companies and policyholders. This initiative granted insurers operators the freedom to introduce new products and expand coverage at competitive market rates. This liberalization enabled insurers to tailor premiums based on individual needs, fostering intense competition and sustainability. Larger companies with substantial capital could dominate the market by absorbing slim profit margins. The research aimed to enhance insurance company competitiveness amidst this liberalization in Malaysia by identifying influential factors and subfactors and prioritizing them. Financial strength and solvency emerged as the most significant factor, outweighing others such as product service innovation, market segmentation and targeting, operational efficiency, cost optimization and customer service and engagement.

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Factors that Influence the Sustainability of Insurance Companies in Malaysia in Facing the Issue of Phase Liberalization

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  • 发表日期：

    2026年

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  • Mohd Sharifuddin Ahmad,
  • Ahmad Faizal Ahmad Fuad,
  • Mohd Saiful Izwaan Saadon,
  • Norlinda Mohd Rozar,
  • Loke Keng Bin

摘要

The initial phase of liberalization of motor and fire tariffs, enacted on July 1, 2016, aimed to evaluate its impact on insurance companies and policyholders. This initiative granted insurers operators the freedom to introduce new products and expand coverage at competitive market rates. This liberalization enabled insurers to tailor premiums based on individual needs, fostering intense competition and sustainability. Larger companies with substantial capital could dominate the market by absorbing slim profit margins. The research aimed to enhance insurance company competitiveness amidst this liberalization in Malaysia by identifying influential factors and subfactors and prioritizing them. Financial strength and solvency emerged as the most significant factor, outweighing others such as product service innovation, market segmentation and targeting, operational efficiency, cost optimization and customer service and engagement.