Category: Intermediary

Death of the Agency Supporting Marketers Operating in an Insurance B2B Ecosystem 

What exactly is insurance B2B or business-to-business? Simply says, it is about intermediaries (including customer servicing personnel) using a point-of-sales (PoS) online platform to transact insurance requirements for or on behalf of their customers with the insurer(s) (i.e., principal). The…

What is so professional about an Insurance Agent?

Professional agents should be more concerned about the client’s exposures than even the client is because of the significant consequences of improper or missing coverages. Insurance is about saving your client from ruin!

Selling tools Insurance Agents want

I somehow got (over the last three years or so) to the point that agents are not interested in just products or product packaging that insurance companies could provide to them to sell; there is no shortage in new products or packaging of products including services that are available in the market, and certainty not when agents are allowed to represent two principals….

The insurance agents are actually

Malaysia ranks 9th in the world with 882 Million Dollar Roundtable members | Life Insurance

MDRT Malaysia has over the years created various channels of improvement for the life agency force and financial advisors nationwide such as mentoring programme, development supporting programme for agents to soar for the MDRT recognition, MDRT Network Channel for MDRT members nationwide to communicate as well as share information and….

Insurance Premium Refund under Financial Services Act 2013

No doubt about this, in the FSA the refund provision was worded in a manner that policy premium refund is to be paid directly to the policy owner and never under any circumstances be paid or credited to the agent’s account.

We have also underlined the phrase, “….pay directly to a policy owner….” and if read together with the other phrase, “….such refund shall under no circumstances be paid or credited to any insurance agent.”, there is no doubt the FSA has intended to provide no flexibility at all for any possible interpretation…. including allowing the policy owner to sign a declaration to assign the policy refund to the agent…. with intention to strengthen policy owner protection.

Foreign Workers Related Insurance Schemes | Pay Extra, Gain Competitive Advantages

Foreign Workers’ Insurance – from Foreign Workers Compensation Scheme (FWCS), Foreign Workers Hospitalisation & Surgical Insurance Scheme (or SKHPPA) to Foreign Workers’ Insurance Guarantee (FWIG)  , they provide a really handsome profit for the insurance industry.  Now, that’s the reason why…

Agents must complete tasks to earn their commissions in full

Agents must not rely on their principal’s goodwill to help them with part of their tasks (agency obligations to their customers) in delivering devices to their customers. This was highlighted in the following members’circular issued by the Persatuan Insuran Am…

Persatuan GIANTS (Gabungan Insuran Agent N Takaful 1Malaysia)?

insurance agency is perhaps something like this?

  This is interesting piece of news over Harakah Daily, thought of sharing this over here. And, you do read with a SMILE…. will you? At least for the…. 1Malaysia part of “Gabungan Insuran Agent N Takaful 1Malaysia”. This piece…

New Income Tax Rules A Pain For Insurance And Takaful Agents

What you see, you may not know about the new tax ruling

It is no great news for the Malaysian insurance agency fraternity…. More income tax coming your way! As announced in the 2012 Malaysian Budget, the proposed new Section 83A of the Income Tax Act 1967 requires every company making payments…

Roles of Insurance Agents | Rules and Regulations Perspectives

Life can be like that

Are you an insurance agent? Do you know what your roles are in as far as the governing laws are concerned? This may be of interest to you. Insurance agents must take their role as contracted personnel of an insurer…