The insurance industry in Malaysia is currently booming, we’ve seen the rise of many new players in the insurance industry and new strategies adapted to those who are veteran in the industry such as Prudential, Takaful Ikhlas, Allianz, AIA and many more. These companies are trying to tap the untouched market of Malaysia population which are still without life or medical insurance, estimated about 70% of the Malaysian population.
As the insurance industry is very rewarding, insurance companies are compensating and rewarding their agents with high commissions. Bank Negara have made it compulsory for these agents to obtain license through the Malaysian Institute of Insurance and the minimum quota of 12 cases per year which are needed to renew their license. The government are making sure that the agents have the right qualities in servicing the public.
The commission given can even be up to 35% which would be reduced annual, they also have more than one type of bonuses and even incentive such as overseas trips when you meet certain quota. My say is that it’s worth the effort to venture in this…more to come
As the insurance industry is very rewarding, insurance companies are compensating and rewarding their agents with high commissions. Bank Negara have made it compulsory for these agents to obtain license through the Malaysian Institute of Insurance and the minimum quota of 12 cases per year which are needed to renew their license. The government are making sure that the agents have the right qualities in servicing the public.
The commission given can even be up to 35% which would be reduced annual, they also have more than one type of bonuses and even incentive such as overseas trips when you meet certain quota. My say is that it’s worth the effort to venture in this…more to come
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