Agency force being enhanced


KUALA LUMPUR: Malaysian Assurance Alliance Bhd (MAA Assurance) has rolled out its first batch of 63 chartered insurance agency managers (CIAM) with a view of adopting global best practices and achieving its target of RM2bil total life premiums for the year. 

“We want to be globally competitive, and one of the ways is by enhancing the professionalism and productivity of the agency force. It will help MAA Assurance achieve the RM2bil mark by year-end,” chief executive officer Datuk Ramlan Abdul Rashid said in an interview.  

Last year the company’s total life insurance gross premiums stood at about RM1.41bil. 

Ramlan said he hoped to have at least 25 people complete the CIAM-Limra (Life Insurance Marketing and Research Association) programme every year.  

The programme, conducted jointly with US-based Limra International, is designed for experienced agency managers and leaders.  

Datuk Ramlan Abdul Rashid with the CIAM brochure

He said that by having productive and quality agency managers, the agency force as a whole would stand to benefit as the managers would impart their knowledge and experience to their agents. The agents, he said, would then be able to offer excellent services to all policyholders. 

According to Ramlan, MAA Assurance first introduced the qualification, which requires seven stages to achieve, in October 2005.  

In less than two years since the programme started,the company had managed to register the highest number of CIAM-qualified people in the industry in a single intake, a remarkable feat which reflected the commitment of the company’s agency managers, he noted. 

The company’s life division has a total of 10,794 agents and managers. 

Another factor which MAA Assurance hopes would put the agency force on the global front is its Consultant Management Sales System, a software jointly designed by Indian information technology company I-Gate and MAA Assurance’s IT unit Maagnet Systems Sdn Bhd.  

Ramlan said the company had spent more than RM4mil in the software to date and would further enhance the system in due course.  

The software enables agents to make electronic submissions, obtain the clients’ financial needs analysis and do total financial planning and agency management, among others. 

He added that there were other initiatives in the pipeline that would help MAA Assurance become a global company whose agency productivity was on par with global standards and best practices. 

 MAA :  [Stock Watch]  [News]

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Quick take: Pineapple Resources shares on a roll
Ringgit marginally higher on better risk sentiment
RHB raises outlook on KLK on higher CPO price assumption
Bursa Malaysia rises on the heels of Wall Street optimism
Quick take: Widad up 6% after RM90mil contract win
Trading ideas: MMHE, Tasco, Luxchem
Malaysia's sovereign US dollar sustainability sukuk oversubscribed 6.4 times
Canadian Pacific CEO rules out raising bid for Kansas City rail
U.S. senators question Apple and Google on app store dominance
EU defends its push for rules on company 'green' reporting

Stories You'll Enjoy


Vouchers