Terjemahan daripada See Hua Daily. Sabah masih kekurangan ejen insurans!
Media Title: See Hua Daily Page: A15
Section: General News
Translation: “Sabah is facing the shortage of life insurance agent,” according to Bong Khee Chin, President of National Association of Malaysian Life Insurance Agents (NAMLIA) during a press conference.
With a population of approximately 3.9 million, Sabah has only to date 2600 life insurance agents, which means on average every agent is serving more than a thousand of policy holders.
The market potential is huge and there is still plenty of room to grow. Life insurance managers must work harder to recruit as many agents as possible in order to meet Bank Negara Malaysia’s target to increase the insurance penetration rate to 75% in 2020.
“Statistics by the National University of Malaysia shows that the average sum assured in every family in Malaysia is about RM43,000, which is far below the ideal amount one should be insured for. Apparently, the sum assured has to be increased to further RM553,000 for a more comprehensive protection. Insurance agents, therefore, have to work harder in order to achieve the mission,” he added.
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Since the implementation of the balanced scorecard system on 1 January 2018, the unofficial statistics gathered for the first quarter has shown some positive results. Under the new system, members of NAMLIA would have to improve their professionalism, service level and productively in order to pass the assessment. In order to encourage Malaysians to own a medical card, NAMLIA will continue to lobby for the exemption of the 6% GST on life insurance medical card. The exemption of GST once approved, would also help to boost the growth of life insurance sector, and to achieve the targeted 55% insurance penetration rate.