Mohamed Hassan:
WHILE life insurers and takaful players can enjoy higher profit margins over time, the move to have a direct channel for the sale of commission-free products could act as a double edge sword, impacting agents’ income and dampening the penetration rate of insurance.
National Association of Malaysian Life Insurance Field Force and Advisers (Namlifa) secretary-general Maj Leow Nan Chung tells StarBizWeek the move to buy insurance from a direct channel, for example via online, could reduce the income of agents and create a sense of insecurity in the agency force.
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