MRC signs agreements to provide data and tools for vehicle insurance industry

Motordata Research Consortium Sdn Bhd (MRC) has signed agreements with Thatcham Research, Proton Holdings Bhd and The General Insurance Association of Malaysia (PIAM) at its annual symposium to help improve vehicle repair and claims processing in the country.

Under the new agreement with Thatcham Research, MRC will license software that will be able to aid in standardising claims of motor vehicle insurance. This could help streamline the process, which will make things easier both for consumers and manufacturers. In the agreement that it made with Proton, MRC also has a Memorandum of Understanding (MOU) with the local automaker to research and distribute data on local vehicle repair times. Such data will provide a clearer picture of vehicle repair information in the country and will help lower the cost of repair works but boost quality as well.

Steve Miller, CEO of the MRC said, “The new agreements will bring great benefit in terms of giving us a benchmark and standards for motor vehicle repair and claims processing, especially once the motor insurance is fully liberalized in July. I am very happy to continue extending our collaboration with Thatcham Research, whereby the MRC can leverage the experience and expertise that Thatcham already has in this industry”.

Through the three agreements, MRC is committed to be the sole provide in data collection for the insurance industry. As a means to cement that notion, it has singed an extended agreement with PIAM to provide training and accreditation programs for employees in the motor vehicle repair industry. These accreditations come with an international award from the Institute of the Motor Industry (IMI).

MRC has been conducting regular training programs in vehicle damage assessment since 2012. The programmes are certified by the IMI and are said to be globally recognized. The company is also working towards accrediting the entire industry here in Malaysia by the end of 2017 as part of its ‘Duty of Care’ quality standards.

We can only hope that these efforts eventually trickle down to us, car buyers, making it easier and more affordable to claim for vehicle repair costs from our motor vehicle insurance providers.