PETALING JAYA: Manulife Malaysia recorded overall growth of 1.3% for its financial year in 2022, due to product innovation and digital support.
The insurance company said bancassurance recorded 17% annualised premium equivalent (APE) growth despite the market shrinking by 7%, while Manulife Labuan recorded 21% year-on-year (y-o-y) APE growth. Additionally, its agency force saw an increase in headcount, growing 11% y-o-y while the market shrank 3% y-o-y.
Currently, Manulife Malaysia is on a mission to provide greater access to the uninsured and underserved in Malaysia, making insurance more accessible to all with increased awareness, education and customer touchpoints through partnerships with lifestyle as well as digital providers.
Group CEO Vibha Coburn said the company is committed to helping Malaysians secure a better financial future.
“Our customers have always been at the core of what we do. Through our solutions and services, we have the opportunity to make the lives of everyday Malaysians better,” she said in a statement.
Under Coburn’s leadership, its agency force grew significantly and became the world’s third best amongst international insurers in terms of Million Dollar Round Table membership. It also strives to continue its innovation in product design and effort to build an awareness on health, savings and retirement solutions.
Meanwhile, it has accelerated its digital support for its agents, with the implementation of ePOS-On-The-Go, an online platform where customers can securely access to upload documents, sign forms, as well as make online payments anytime, anywhere.
In January 2023, an e-Learning platform – ManuAcademy, was launched to provide an enhanced interactive approach to its agents’ online learning experience.
The company said that it is dedicated to providing a professional, digitally enabled agency force to better serve their customers, with improved efforts to spur recruitment through their Agency Leader Corp, coupled with various recruitment drives and activities.
In September this year, it will be celebrating its 60th anniversary in Malaysia. Recently, the company won the award for the ‘Best Child Coverage Plan’ in the Motherhood Choice Awards
Vibha Coburn
Source: The Sun Daily
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