Celebrating twenty-five years of CAB
The Central Administration Bureau (CAB) was established in 1995 to help centralised computerised and online-centred CABFAC and CABCO make the facultative reinsurance and coinsurance procedure more potent for members. Monitored from the Malaysian Reinsurance Berhad, CAB Malaysia’s workplace is positioned in Damansara Heights and recognised its 25th wedding anniversary in 2020.
CAB’s Board, Group and Stakeholders
The CAB Table works with a Chairman, a lasting member from Malaysia Re, a PIAM representative and four supervisory table members. Its internal procedures are beneath the handling of an Assistant (Bureau Manager), while an Operation Head directs the Secretary’s Finance and, yes, it Model report. CAB’s customer portfolio is composed of greater than 70 nearby and offshore insurance coverage business stakeholders.
CAB’s Online-Structured Software
Insurance coverage reconciliation obligations usually call for a full working day to approach. CAB supplies centralised web-dependent methods, such as the CABFAB and CABCO, which people jointly fund. The sites assist in on-time settlements, eliminate reconciliation difficulties, and make a recovery more effective for facultative reinsurance and coinsurance businesses.
The CABFAC Process
CAB’s Facultative Reinsurance System is the first computerised web-centred system in Asia to provide facultative reinsurance dealings. The program has four modules, the underwriting element, declare element, offer module and confirming unit. In facultative reinsurance, leading insurance providers obtain protection to pay for organisation dangers to guarantee solvency and safety in the experience of any activities.
Comprehending the CABCO System
In 2011, a digital internet-based CAB Coinsurance Program (CABCO) was developed by Persatuan Insurans Am Malaysia (PIAM) to give coinsurance purchases. Below coinsurance, several insurance providers supply protection for consumers thinking about spreading company risks among numerous parties. The CABCO system includes the declare element, revealing module and underwriting element.
CAB Account Rewards
Jointly financed by members, CAB’s electronic ecosystem improves your company by implementing organised procedures, clear rules and fixed change-around time. For insurance coverage and takaful operators, a one-off joining fee of MYR41,465 and a twelve-monthly charge of MYR 7,195 is required for broker agents, an annual cost of MYR1,500, as well as a monthly fee of MYR50, is used.
CAB’s Comprehensive Member Stock portfolio
CAB’s associate portfolio consists of insurers and reinsurers, takaful and retakaful operators, brokers and offshore reinsurers and broker agents, with renowned board participants such as Allianz General Insurance policy, AIG Malaysia and Takaful Ikhlas. Get a registration today to take advantage of a web-based-structured process that elevates facultative reinsurance and coinsurance operations.
Apply to become Participant
Facultative management has always desired intensive labour that contributed to numerous errors. Since 2004, CAB Malaysia has fully transitioned and digitalised its process and solutions to supply a trustworthy system because of its participants to facilitate productive transactions — instilling certainty inside the facultative reinsurance and coinsurance business for twenty-five years.