DEFINITION of ‘Detariffing‘ The act of removing the pricing regulations of an industry, set forth by tariffs created by a regulatory body. Detariffing allows an industry to price its goods or services at market value, as regulation is discontinued to promote market equilibrium.
Tariff or base “price rate” removal.
Simple words. Price will vary from each brand to how they see fit for each risk they absorb. Might as well decline to accept a risky proposal.
“Detarif” – will be imposed for comprehensive risk proposal dated July onwards
Leading the market, Etiqa has further improved their billing system recently on May 6th. We’ve seen significant changes done to its business system, experiencing first-hand new learning curve & actively adapting to the new era of Malaysian insurance & takaful.
Others will follow.