Asia Advisers Network, together with Co-Organiser Jensen Siaw International, and sponsor GoalsMapper, organised the first-ever Insurance Inspired - Winning in the New Normal virtual summit by bringing together 18 of the biggest names in the insurance industry in Asia. Chinmay-Low of Asia Advisers Network brings you the highlights of day one which took place on 28 July.
Opening address speaker Jensen Siaw, Chief Motivator, Jensen Siaw International, kicked-off the three-day summit with his inspiring keynote on winning in the new normal from on-street to on-screen.
What exactly do you need to win in the new normal? Drawing from the four segments that include agility, communication, digital engagement and having a blueprint that is a model for every moment’s choice, he emphasised on having a respond ability mindset regardless of how long one has been in the industry and to continue to move, create and lead in the new normal.
The mindset is to take the next step even if it is only with one aim, and just move. He said: “2020 will be an outcome of your decision, not the situation that remains the same for all markets.”
Winning the hearts and minds of the C-suite is to seize every opportunity, and be bold and confident, said Jaslyn Ng, one of the top five rookie insurance agents in the Asia Trusted Life Agents & Advisers Awards in 2019.
Being authentic and consistent are amongst the essential elements to attract senior executives and high net worth customers who are strategic thinkers and astute decision-makers. She advised financial advisers to think and communicate like the C-suite and to become knowledgeable beyond their own profession to connect emotionally and intellectually.
C-suite executives have social currency and their reputation is at stake when giving referrals. Hence, Jaslyn said financial consultants should help make it easy for C-level executives to refer them to others by being consistently beyond excellence.
Navigating through these uncertain times as financial practitioners, Laura Hoi, zone chair, South East Asia, MDRT membership communications committee (MCC), shared four lessons she learnt from the pandemic including being adaptable, creative and that the need for human connection that will never go away.
She encouraged the participants to connect with people more effectively by checking in with friends and clients, genuinely help others without expecting anything back, leveraging on social media and always finding opportunities to add value and make an impact.
The fourth lesson is to live a balanced life as she emphasized the importance of the Whole Person Concept that embraces the other equally important aspects of life that include relationships, community service, health, education, spirituality and finance.
While the morning sessions were filled with speakers from Singapore, the afternoon sessions saw a lineup of international speakers.
Thanathon Karnjanisakorn (Nam), top five digital agent of the year 2019, from Thailand, said: “Even if you are not perfect, you are limited edition.” She added that one can be different to succeed in the online marketing space.
At her workshop, she urged financial advisers to find a nickname a customer can call and relate to and start listing skills and interests on the top (three) social platforms to help customers to find them.
She also listed the 7Cs on becoming a well-known financial adviser on social media that includes connection, commitment, communication, creativity, consistency, comparison not with others but with yourself and the “can-do” spirit in believing in yourself. She encouraged everyone to be the first, the best and be different.
Liu Chia-Chun, winner of insurance agent of the year 2019, from Taiwan, said: “To stay on top, we need nothing but the second curve.” She added that “we have to push the start engine of the second curve before the first curve of ours reaches the apex” to continue to improve and excel to avoid regressing by being complacent.
How to get started? Firstly is to provide customers with the best in class service experience with top-notch digital technology, and secondly is to utilise a “WIN strategy” to give customers a “Wow” experience and do consulting with Innovative thinking and through Networking. Life is not about being perfect, she said and encouraged everyone to be brave enough to show what is right and what is love, for self, and for the people around.
Wave Chow, winner of insurance agency leader of the year 2019 and newly-crowned Digital Agency Leader of the Year 2020, from Hong Kong, talked about the current challenging environment and likened it to “rain” - COVID-19, impact of quantitative easing (QE) and regulatory implications of RBC that will affect the insurance industry as a whole.
Hence, financial advisers will have to adjust their sales strategies accordingly, which he believes also means therein lies golden opportunities. While focussing on winning in the new normal, he also stressed that some success principles do not change, for example, persistency and hard work.
He also reminded fellow practitioners, “not to forget to play when working” and “don’t wait for the storms of your life to pass, learn to dance in the rain”.
Held in conjunction with the Asia Trusted Life Agents & Advisers Awards (27 July – Winners unveiled), the three-day Insurance Inspired Virtual Summit (28-30 July) continues today at 9.30am (GMT +8) at Insurance Inspired.
This conference summary was written by Chinmay-Low from Asia Advisers Network and Asia Insurance Review.