KUALA LUMPUR: The Life Insurance Association of Malaysia (LIAM) is enabling the members of the public to verify the status of the insurance agents by the short messaging system (SMS) and via the Internet.
LIAM, which has about 85,000 agents registered with it, said on Friday the move was not only to instil professionalism in the agency force but also to help the public check the authenticity of the persons whom they are dealing with.
The association recently introduced public enquiry facilities via Internet and SMS to enable the public to ascertain whether individuals they are dealing with, to purchase life insurance products are registered with LIAM as an authorised agent.
LIAM president Toi See Jong said” “The online and SMS verification are intended to help the public to check the authenticity of the people they are dealing with, on matters related to the purchase of life insurance products for themselves and their loved ones.”
“The public enquiry facilities are part of the initiatives undertaken by the industry to protect the consumers in championing our efforts to nurture an industry that embraces accountability, integrity and competency,” he said.
He added the public should ensure the people they are dealing with are registered with LIAM. Only LIAM members are authorised to promote, market and distribute life insurance products in the country.
LIAM has garnered strong support from the 16 member companies and it works very closely with regulatory authorities and stakeholders to build a high standard of professionalism among its practitioners, instilling good business practices and upgrading the image of the industry through self-regulation.
Those keen to be insurance agents have to pass the pre-contract Examination and Certificate of Investment Linked Examination before they can be registered as members.
Agents undergo training and continuing professional development each year to maintain their contracts.
In raising the professionalism of the distribution channels, LIAM also introduced examinations and basic agency management course for agents and advocated the code of ethics to inculcate the highest degree of standards and integrity among its practitioners.
The public can call LIAMt at 03-26916168, 26916628 and 26918068 or e-mail their enquiry to liaminfo@liam.org.my if they encountered any unauthorised agents promoting, marketing and distributing life insurance products in the market.
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