New on the judging panel this year is Laura Hoi, representing MDRT, Membership Communications Committee ("MCC") as S.E.A. Zone Chair, and a Private Wealth Consultant at Prudential Assurance Company, Singapore.
As Zone Chair for S.E.A. MDRT MCC, Laura helps to oversee and promote the level of professionalism and productivity of the financial services industry across 8 countries. She regularly speaks and conducts workshops to help raise the standards of financial practitioners around the world. Laura believes that everyone should never stop learning.
She is a Chartered Financial Consultant as well as an affiliate member of Society of Trusts and Estate Planners (STEP).
We find out from her the qualities she would be looking for in selecting winners and her thoughts about the Awards and the industry.
Q What qualities would you be looking out for in selecting winners?
I look forward to seeing agents who not just possess the professional skills required, but more importantly also display the passion and love in what they do, making a lasting impact and difference in the lives of the people and community they serve.
Q Why should the industry participate actively in the Awards?
In the light of the public, advisers are very often just seen as an individual providing financial advice, or in some other countries, selling products. They do not see the many other facets of the work we do, especially by individuals who have gone the extra mile to give back to society, to better the overall lives of many people they come into contact with. This Awards is a good opportunity for the industry to show the public that the industry recognises and promotes professionalism amongst the thousands of advisers in Asia, encouraging them to be a better adviser to their clients.
Q How do you see distribution in the insurance industry evolving in the years to come?
The constant advancement of technology and social media has been impacting the way we live our day-to-day lives, with one of the biggest impact being the speed and extent to which we have access to information. Consumers now have a myriad of information available to them regarding insurance and financial matters at the press of a button.
However, insurance is not usually bought, but sold. People still need trusted agents and advisers to provide them trusted advice with regards to insurance matters. Hence, I foresee that distribution in the insurance industry will still be largely through face-to-face human interactions. In fact, the recent LIA Singapore report showed that only 0.2% of all sales’ weighted premium was through the online direct channel.
Q What must advisers do to continue to stay relevant?
It is important that advisers must always be kept abreast of industry changes given that consumers are more well-read and aware. Advisers need to be even more well-read and aware than consumers, so that they can trust us to provide professional advice.
Never stop learning and never stop growing. For example, go for seminars, take up professional certifications, read up on the economy, on market trends, and on changes in regulations.
The 5th Asia Trusted Life Agents & Advisers Awards (“Awards”) has just gotten bigger and better this year. It is unlike any Awards in Asia for the insurance industry as it goes beyond production to focus on values such as persistency, moral and ethical code, integrity, giving back to the community and professionalism.
In order to identify true excellence within the insurance community in Asia, the Awards is made up of close to 30 esteemed judges, comprising of CEOs, Presidents, senior executives and industry leaders. The judging process is independently audited to ensure transparency and impartiality across the competition.
Moving onto our 5th year as a regional and neutral platform, this year’s search for the best professionals in the insurance industry to honour and recognise them is on.
The Awards is organised by Asia Insurance Review and Asia Advisers Network with LIMRA as co-organiser, AIA as strategic partner, and strong industry support from leading insurance associations and organisations.
Check out the Awards website here: https://www.asiaadvisersnetwork.com/awards2020
My satisfaction comes from the success of each member in my team - Jason Chu, Rookie Insurance Agency Leader of the Year
#throwback: Check out our past interview with Mark Tucker in "The Leader"
Insurance Agent of the Year - Chia-Chun Liu
Young Executive of the Year 2019 - Sabrina Ong
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