Allianz life aims to recruit more agents in collaboration with INSEAD

KUALA LUMPUR: Allianz Life Insurance Malaysia Berhad (Allianz Life) aims to recruit 500 graduates into its life insurance agent ecosystem this year following its partnership with renowned business school, INSEAD.

Allianz Life Chief Sales Officer Raymond Cheah said the number only covers the middle of this year until the end of 2023 when the graduating program will be in full swing and will get 1,500 graduates next year to promote its insurance agent recruitment program.

“The collaboration with INSEAD, which is one of the world’s leading business schools, is to create a training and certification program aimed at transforming and improving the salesforces of Life and Health business agencies,” he told Bernama recently.

He said this six-month program is a performance-based qualification initiative that recognizes and rewards top producing agents in seven Asian markets and is designed to enhance and transform the learning experience of agents licensed in the Life and Health business.

“Specially designed and jointly created by Allianz and INSEAD, the program follows a hybrid training model consisting of both online and face-to-face content,” he said.

On the uniqueness of the collaboration with INSEAD, Cheah said that the program allows access to world-class professors, panel speakers, and industry practitioners, while the curriculum covers a wide range of topics from organizational leadership and customer management to marketing, sales and business strategy, agents will also be able to interact with their peers across the region through proven education and expand their network while learning from each other.

“Fully sponsored by Allianz Asia Pacific, the program offers agents the latest skills and knowledge to stay ahead in a rapidly evolving industry.

The top qualifiers will also have the opportunity to complete their training program at the INSEAD campus in France, exchanging learning experiences with their counterparts for a truly global educational experience,” he said.

“Allianz Life is focusing on recruitment this year, especially with its flagship recruitment program, known as the Career of Excellence and Opportunities (CEO) Programme, which acts as a training academy to attract the next leaders.

“This is a 24-month program. We provide comprehensive training, fixed income like an entrepreneurship fund to make them strong in this industry. The aim is to provide full-time, dedicated professional agents who can sell all insurance solutions not only in life insurance but also in general insurance,” he said.

Cheah said another program that should be good for part-timers is the Flexi Entrepreneur Program (FEP), which is made for those who don’t want to commit full-time while having a part-time job as a gig economy proprietor.

This he said was because some agents did not like the idea of ​​being terminated if the quota was not reached.

“Under this flexi mechanism, there is no need to fill any quota for the year they join and the following year. Such agents can relax and sell policies as much as they want.

“When they get closer to the business, come to training, try it and get some success, they will gain confidence and then they can decide if they want to join the CEO Program. And that is more on a full-time basis,” he said.

Another program is the Allianz LEAP (Learning, Engagement, Apprenticeship, Purpose) program in collaboration with all major universities in Malaysia.

Cheah said under Allianz LEAP, there is a Student Entrepreneur Program (SEP) that offers students the opportunity to become an agent while they are still in school, to gain basic knowledge of financial planning and insurance protection, and join Allianz Life through a contract to slowly cultivate an interest in entrepreneurship.

“When they are ready, after graduating they can move to the CEO program. The SEP is to expose them early on the importance of financial planning especially in the field of insurance protection,” he said.

Cheah also stressed the importance of insurance coverage as statistics show that Malaysians lack insurance coverage.

“For the past 10 years, the rate of medical inflation has been between 10-15 per cent per year, so it will be a huge burden for the government in the future as more Malaysians age.

“And when they reach the age of 50 or 60 years and there is no protection in terms of personal health policy, then the government has to bear that cost,” he said.-Bernama

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