CEO: Financial education crucial to improve life-insurance penetration rate

Allianz Life Insurance Malaysia Bhd CEO Joseph Gross

PETALING JAYA: Continuous financial education is crucial to improving life-insurance penetration rate in Malaysia.

Citing the country’s relatively low life-insurance penetration rate at 54% currently, compared with the government’s initial target of 75% by 2020, Allianz Life Insurance Malaysia Bhd CEO Joseph Gross notes there is strong growth potential for the industry in Malaysia.

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