Document background
The Insurance SLA is a crucial document used to establish and maintain service standards between insurance providers and their clients in the Malaysian market. This agreement is particularly important when setting up or reviewing insurance service arrangements that require specific performance metrics, compliance requirements, and operational standards. The document addresses key aspects of insurance service delivery including response times, quality metrics, reporting requirements, and compliance with Malaysian regulatory requirements, particularly the Financial Services Act 2013 and Bank Negara Malaysia guidelines. It's designed to protect both parties' interests while ensuring adherence to local insurance regulations and industry standards, making it essential for both conventional insurance and Takaful operations in Malaysia.
