KUALA LUMPUR, 20 January 2021: Liberty Insurance Malaysia Berhad (Liberty Insurance) has disbursed RM270,887 in settlement claims to policyholders in flood affected areas thanks to its proprietary state-of-the-art Video Appraisal technology. This timely development comes as part of the company’s digital adoption initiatives, and as a result, policyholders of Liberty Insurance’s House Owner, House Holder and Private Car EZY Plus (Comprehensive) protection plans with a flood cover will now be able to have their claims processed within just two to three working days, from up to seven days previously. This more than halves the average turnaround time for such claims. 

According to Mr Puneet Pasricha, Liberty Insurance Malaysia Berhad’s Chief Executive Officer, the company is cognizant of the dire situations facing the Rakyat, particularly in flood-ridden states such as Johor, Kelantan, Terengganu, Pahang, Selangor, Perak and Sarawak. 

Entering 2021, the Malaysian automotive industry is still in for a tough year. Total industry  volume (TIV) was originally forecast by RHB Research to be at 580,000 units, which is still  below the pre-pandemic level of 604,287 sales units recorded in 2019, but certainly higher  than 2020’s circa 500,000 sales units (final figures expected to be announced by the  Malaysia Automotive Association by end Jan). 

A bulk of the forecasted recovery hinges on the recently announced extension of SST  exemption for Completely Knocked-Down (CKD) and Completely Build-Up (CBU) cars, from  the original deadline of 31 December 2020 to 30 June 2021. But the reimposition of  Movement Control Order (MCO) in many key market centres complicates matters. The  situation is still too fluid to make a reasonably strong forecast. 

Malaysia – January 20, 2021 – Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces Part 3 of its Intelligent Automation Benchmark Study, a Forrester Consulting thought-leadership paper commissioned by the company. As the global pandemic pushes organizations to accelerate digital transformation initiatives, business leaders increasingly must decide which automation projects to fund. According to the study, the guidance is clear: automating workflows with a “DNA” including document intelligence, process orchestration and connected systems yields the greatest return on investment. 

“Companies seeking to remain relevant and competitive in the digital economy are aggressively investing in low-code automation platforms to digitally transform internal operations and customer interactions,” says Chris Huff, Chief Strategy Officer at Kofax. “Industry winners will leverage automation with a focus on outcomes and experiences increasing organizational capacity, driving operational efficiency, empowering employees, and enhancing customer experiences.”