Claim ratio of medical and health insurances in Malaysia 2014-2023

The incurred claims ratio of the medical and health insurance sector in Malaysia in 2023 was at 65.9 percent, indicating an increase of 4.6 percent compared to the previous year. The claims ratio is the proportion of claims paid by the insurance against the premiums received.

High claims payment

The medical insurance industry is a budding sector with an annual net premiums value of more than 916 million Malaysian ringgit in 2022. Based on the claims ratio, more than 60 percent of the claims were paid, which means Malaysian consumers could expect substantial repayment of their medical claims. In that same year, medical and health insurance had the second-highest incurred claims ratio among other types of non-life insurance.

Public vs private healthcare

Medical and health insurance was one of the leading types of insurance purchased by Malaysian consumers in 2022. This was likely because patients with this insurance would be able to access private medical services, which complements the Malaysian public healthcare system. Although the standard for low-cost medical treatment at government-owned hospitals is still considerably high, they are often overcrowded with patients. With more private hospitals available in Malaysia, people can expect better customer service and facilities .