ISM Insurance Services Malaysia Berhad (ISM) was conceptualized in 1998 by the General Insurance Association of Malaysia (PIAM) as the Malaysian Insurance Rating Organisation (MIRO) project. The objective of MIRO was to put in place databases to support pricing and reserving in a liberalised pricing environment. The project took shape in 2000 when PIAM established the MIRO department and employed an Actuarial Manager to coordinate the project. more
To be a strategic enabler of growth and development for the insurance and takaful industry through quality, reliable and efficient services.
To be the center of excellence in providing statistical, database and technology centric solutions while continuously expanding the range of services that is focused on industry’s needs.
- Provide infrastructure of databases and analytics that allows members to make informed decisions and support liberalized pricing environment.
- Build competencies in quantitative underwriting and technical pricing.
Increase efficiencies in operations by:
- Providing online access to shared information
- Utilization of information technology solutions
- Providing effective fraud detection systems and capabilities
Awards & Recognition
ISM Insurance Services Malaysia Berhad is a MSC Status company. We are also ISO/IEC 27001:2013 certified, a premier certification for information security management.
Board of Directors
The Board of Directors of the company consists of 7 elected and 2 appointed Directors. The 7 Directors are to be elected amongst the Members or corporate representatives of the Members at an Annual General Meeting. Meanwhile, the 2 appointed Directors are respectively nominated by the Management Committee of the General Insurance Association of Malaysia (PIAM) and the Malaysian Takaful Association (MTA).