I read your blogs with written topics concerning the readiness of our agency force with interest. We can refresh with the following blog materials:
Having been around the industry for quite awhile I find it absolute true that our agency force is not prepared for the many imminent changes ahead. Many of the agents are merely relying on their principals to supply information to them or provide the necessary training for them to deal with the changes that PIAM has planned. PIAM has never wanted to recognise the existence of PERWAKIM, thus rendering association of non-life insurance agency irrelevant and therefore will never be part of the industry mainstream planning.
It is sad indeed, if the Klang Valley agents are not at all well-versed with the latest development how then would those in east malaysia be kept within the mainstream development? Perhaps it is time PIAM should work out something with PERWAKIM so that their association members can be kept informed of impending changes in the industry.
In addition, PIAM has to work towards various options for the agency force, ie. to allow them to either operate “with two-principal” or as “independant agency” regime. This would give the agents more scope to operate; no difference from the independant agency force in US. Of course we do have the independant financial advisers but they are more of Life insurance and investment segments rather than for the non-life industry. Moreover a different set of licence is required.
Internet-based website marketing is also one area agency can explore further but this may work if agents are more tech-savvy and have the willingness to blog information for their customers to read and understanding insurance better. Agents are already there, only thing they are not aware or short of acknowledging it – just imagine the motor insurance transactions we have done for our customers with the PC before submission to the principal(s). These transactions are already internet-based. Do take a tour of our blogsite on “Tracking insurance-eCommerce” – we are trying to capture the growth of e-commerce in the dispensing of insurance by our Malaysian insurance agency force. Do give us feedback especially telling us of your ecommerce works for the industry and for those who wanted to make forray into this new channel of selling, do contact us through the comment form and providing your email address.
While the insurance industry may have been blamed for not doing enough for this very important fraternity, agency force should not view this as the end of all good things but instead relook at the industry from another perspective; perhaps also it is good to take to the cyberspace to add on to your already street smartness ability……if that be the word!
Looking hard and far? You have to be!