How does Semak Kasih aim to improve the efficiency of claim payments?

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Semak Kasih Enhances Claim Payment Efficiency Through Easier Verification and Provider Contact

The "Semak Kasih" portal, launched by Bank Negara Malaysia (BNM), aims to streamline the claim payment process by simplifying the verification of insurance and takaful coverage for beneficiaries. By providing a centralised platform, it allows individuals to readily check for policies or certificates held by deceased family members and subsequently connect with the relevant insurance or takaful providers. This direct access is intended to expedite the process of claiming death benefits, addressing a situation where an estimated 50,000 policies and certificates remain unclaimed.
Facilitating Beneficiary Verification and Provider Identification

The core function of the "Semak Kasih" portal is to empower beneficiaries to ascertain whether they are entitled to unclaimed insurance or takaful benefits. Developed by BNM, the portal serves as a digital tool for individuals to confirm the existence of coverage and identify the specific insurance or takaful company associated with the policy. This verification step is crucial, as many families may be unaware of existing financial protection left by their loved ones, as highlighted by BNM Deputy Governor Adnan Zaylani Mohamad Zahid.
Bridging the Gap for Unclaimed Benefits

With an estimated 50,000 insurance policies and takaful certificates involving death benefits yet to be claimed, according to figures from the Malaysian Takaful Association (MTA) and the Life Insurance Association of Malaysia (LIAM), the portal addresses a significant gap. Current methods to reach beneficiaries, such as sending letters and utilising agents, have limitations. "Semak Kasih" is designed to overcome these challenges by offering a more accessible and efficient channel for beneficiaries to initiate the claim process.
Streamlining the Claim Initiation Process

By making it easier for beneficiaries to check for coverage and directly contact the relevant provider, "Semak Kasih" aims to improve the overall efficiency of benefit claim payments. This improved accessibility is expected to ensure that rightful family members can receive their entitled benefits more promptly. The initiative is part of broader efforts to enhance financial literacy and protection within Malaysia, ensuring that insurance and takaful serve their intended purpose of supporting families during difficult times.

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How does Semak Kasih aim to improve the efficiency of claim payments?

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