Once my family and I plan to travel to europe, our flight will be at Changi because we stay in JB. Call tunepro enquire about the insurance, i were informed they are unable to cover my family and I because our flight is in Changi even our journey begins in JB by land transport.
After that i contacted MISG, they do cover my situation. The next day i sold tunepro at 1.5x and never return again.
KL_82, Tunepro should learn from the mistake and improve it. However, I think they seem like lack of motivation to do so. Just look at their products range. it makes people feel that it goes no way and all are the same things, not innovative as AirAsia's. How do you want people to buy their insurance products.
These could be the personnel problems. Hope the new seniors will make the change.
tunepro- recently all bad news have been out (changes of insurance policy, high motor vehicle claims) and it was reflected the current price. recently funds are buying it. short term target of 1/20/
Haha, compulsory travel insurance, they got too much free time and $ to spend for this kind of useless and unnecessary study. Free market is up to individual to decide and shoulder their own risk. Motor driving license also unable to resolve.
Earnings below estimates Lower PAT in 2QFY17 attributable to higher claim cost in Motor and soft demand from travel insurance business Company’s initiatives showed solid progress Travel insurance business is expected to recover by the end of FY17 Maintain BUY with unchanged TP of RM1.47 Earnings below estimates. The company recorded 6MFY17’s earnings at RM26.80m, which accounted for 35.4% and 37.7% of ours and consensus’ full year forecast respectively. However, we had expected 2QFY17 to be challenging. This led 1HFY17 earnings to decline by - 50.2%yoy. On quarterly basis, 2QFY17’s PAT declined by -54.6%yoy.
Higher claim cost in Motor. The drop in earnings was mainly driven by higher claim cost in motor segment. This led to the increase in company’s overall combined ratio of 94.7%, +23.5ppt higher than in 2QFY16. Travel insurance business continued its downtrend mainly due to the effect of MAVCOM’s opt-in ruling.
Positive growth in GWP. Despite the drop in earnings, 2QFY17’s GWP growth advanced +11.4%yoy, mainly driven by Motor, Offshore Oil & Engineering, and Travel from B2B in the Middle East Market. The overall take-up rate from Global Travel business segment trended marginally higher, +0.2ppt sequential increase to +9.9% in 2QFY17. Management expected the rate to reach 15.0% in 2HFY17, as it extended its product bundling to more markets starting in the 3QFY17.
Partnership with Cambodia Angkor Air. The company secured its 4th airline partnership with Cambodia Angkor Air. It is slated to commence in 3QFY17, and expected to contribute higher premium income to the company’s overall Global Travel business. Additionally, transformation initiatives are showing positive signs with few products already underway such as Tune Protect Motor Easy. Among other initiatives, the company is also expected to launch its mobile application, concentrating its focus on acquiring more customers in the mass retail space. We opine that the company’s early attempt to reach out to customers via the digital space will leave a positive impact, which we expect coming in FY19 earnings. We believe that it will provide sustainable growth to its long term earnings’ stream due to the benefits of first mover’s advantage.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
willc48
723 posts
Posted by willc48 > 2017-08-25 10:10 | Report Abuse
Failed to atract other insurance companies