Kurnia counters impact of declining car sales TEAMCAR - Kurnia Insurans (Malaysia) Bhd is implementing various measures, including a strategy to increase its motor insurance renewal ratio, to counter the impact of the expected contraction in new car sales this year.

Kurnia Asia Bhd’s chief executive officer Datuk Adrian Loh said among the measures, it planned to recruit more agents, strengthen its relationship with bank partners, and offer more innovative products, including hybrid packages for its customers.

The Malaysian Automotive Association now expects passenger car sales to contract by 8% this year on the back of higher interest rates and fuel prices as well as falling used-car prices, instead of its earlier forecast 3% growth.

Kurnia Insurans, a wholly owned subsidiary of Kurnia Asia, has about 7,000 agents nationwide.
“We are going to spend a lot of time to work hand-in-hand with our agents to improve the renewal ratio. If we can increase our renewal ratio, we can at least protect our premium base,” Loh said.

SOURCE : THE EDGE  ¶ 11:39 PM