PRUDENTIAL WEALTH PLANNERS
Today, insurance is something that many of us own, in one form or another. If you have ever purchased an insurance policy, chances are you would have bought it through an insurance agent who is either a family member, a friend, or a friend of a friend, and so on.
The reality is, more and more people are beginning to discover the beauty and the incredible opportunity for success and prosperity that exists in the insurance industry by becoming a part of this thriving business.
“In Malaysia, the financial landscape has been experiencing tremendous transformation and growth in the last decade … the performance of the life insurance industry remains strong amidst a very competitive environment,” says Prudential Assurance Malaysia Berhad chief executive officer Bill Lisle. “Nevertheless, there is vast opportunity for the market to grow, given that the percentage of the population insured is still relatively low at about 40%. Takaful, which is an alternate option to conventional insurance, has only about 6.8% penetration rate. With the country’s population continuing to rise, as does individual wealth, the demand for insurance will surely continue to grow in tandem,” he observes.
An Attractive and Truly Rewarding Career
The insurance industry has transformed into a more dynamic and rewarding one.
The enormous potential for growth – brought about by the largely untapped market, is perhaps one of the key factors that make the insurance business an attractive one.
No doubt, there is always the financial attraction to the business, which allows you to take full control of your income or earnings. Because most customers may not necessarily be proactive in buying insurance, it is up to the agent to do the job – with just a few simple attributes: time, effort and passion – clearly translating into what any typical human being is capable of, with a little bit of drive. To top it all, you don’t need start-up capital, so there is virtually no risk involved.
But as any insurance agent who has been in the industry long enough would attest to, a career in the insurance business offers more than just monetary rewards.
“Insurance is perhaps one of the very few industries around that offer you an opportunity to help others when they are in the most difficult of situations, and more importantly, give them hope for a better future. This is where the emotional satisfaction comes alive, because you are actually playing an important role in helping to plan and secure one’s financial future.
“This is a business that not only has the capability to help you change your life for the better, but also gives you the opportunity to make a positive impact on other people’s lives,” says Lisle, who has more than 20 years of experience in the life insurance industry.
The Success Stories
There are many individuals from all walks of life who have proved that this business can offer much success. For Kam Chee Meng, Prudential’s top agency manager for 2007, it is all down to a lot of hard work, perseverance and most importantly, having a sound understanding of what customers need.
Kam, who joined Prudential about 14 years ago and has since built a successful agency that comprises about 100 direct agents, believes that insurance today is no longer about selling policies and pushing products to the customers.
“Insurance is about understanding where people are in life currently, then recommending suitable products that are relevant to their needs. As a professional agent, it is not right to sell products that only benefit yourself, because that will not last you very long. We must grow with our customers in the long term,” he explains.
Another individual who has enjoyed equal success is Othman Shaharum, Prudential’s top unit manager for two consecutive years from 2006. Formerly from the construction industry, Othman decided to join the insurance business seven years ago as he wanted to provide a better life for his family.
“Insurance was ideal for me because I wanted a business with zero start-up costs. It was tough at first, having come from an entirely different industry. But due to sheer hard work, discipline and a strong belief in doing my business with utmost integrity and honesty, I am where I am today. Anyone can be successful in this business, as long as you have the right attitude and commitment levels,” says Othman.
From Insurance Agents to Wealth Planners
The myth of most insurance ‘agents’ knocking on doors or ‘hogging’ one’s time selling policies is fading away. While sales will always be a major pull for the industry, future wealth planners are finding that opportunities in insurance are diverse, dynamic and rewarding.
Agents have now evolved into ‘Wealth Planners’, who, at Prudential, play a critical role in educating the public on the need to secure their future, and help people plan for their complete financial needs, be it for protection, investments, retirement or estate planning. Prudential Wealth Planners are the new breed – with greater efficiency, new technology, innovative products, closer relationships, and perhaps most importantly, a face you can trust.
Article by Prudential Assurance Malaysia Berhad. Read about the new world of insurance through Prudential Wealth Planners, and how you can be part of an evolution in the next article.
Tips
Joining the Insurance Business
·Familiarise yourself with the insurance field. If you’re still in college or university, it would be a bonus to spend some time working or interning for an insurance company. Nothing like experience!
·Being equipped with a degree in business or economics is ideal. However, anyone who is willing to be committed to a job can succeed, with the right training
·Be up-to-date with technology! The use of technology in the insurance industry is becoming an increasingly demanding feature. Using the right technology can increase your efficiency and productivity.
Be up-to-date with technology.
·Get the right certificate for your insurance licence – you can take examinations for this after you join the right insurance company.
·The learning doesn’t stop – no matter where you are in life, there is always something new to learn – be up to date with the insurance industry, new products and services as well as technology. You can go a long way with this.
·Most of all – have a positive attitude and unleash that passion in you!
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