MII Achieved Bet­ter Per­for­mance in 2011

Insurance - - EVENTS -

2011 was an­other mean­ing­ful year for MII, dur­ing which the In­sti­tute’s per­for­mance was pushed to greater heights with the pas­sion of its team, and sup­port from the in­surance in­dus­try and Bank Ne­gara Malaysia. MII ex­ceeded most of its KPIs and achieved sig­nif­i­cant fi­nan­cial per­for­mance de­spite its po­si­tion as a non-profit or­gan­i­sa­tion. In 2011, MII’s rev­enue in­creased by 16% to RM17,672,941 from RM15,225,424 in 2010, due to higher par­tic­i­pa­tion in its ex­am­i­na­tions, train­ing pro­grammes and con­fer­ences. The pos­i­tive per­for­mance earned MII a higher sur­plus af­ter tax of 81% at RM1,945,410 com­pared to RM1,074,007 in 2010. The higher rev­enue re­ported was also de­rived from its con­tin­u­ous ef­forts in in­tro­duc­ing new train­ing and ed­u­ca­tion pro­grammes, pen­e­tra­tion of new mar­kets, in­crease in the con­duct of the ex­am­i­na­tions and pru­dent cost man­age­ment. Among the ma­jor achieve­ments in 2011 was the in­creased num­ber of can­di­dates tak­ing MII ex­am­i­na­tions through­out the year. In 2011, MII achieved a phe­nom­e­nal fig­ure of 115,609 can­di­dates tak­ing its ex­am­i­na­tions at nine Com­put­er­Based Ex­am­i­na­tion (CBE) cen­tres, 22 man­ual ex­am­i­na­tion cen­tres na­tion­wide and at MII in­ter­na­tional cen­tres as com­pared to 112,000 can­di­dates in 2010. This contributed to an in­crease of 3,670 can­di­dates in­volv­ing 1,096 ex­am­i­na­tion ses­sions. The num­ber of pro­fes­sional, tech­ni­cal and non-tech­ni­cal pro­grammes re­mained strong with over 200 classes con­ducted in 2011, at­tract­ing 7,996 par­tic­i­pants. The year also saw MII re­ceiv­ing more in­ter­na­tional par­tic­i­pa­tion in its train­ing and ed­u­ca­tion pro­grammes with 427 for­eign par­tic­i­pants from Bangladesh, In­done­sia, Iran, Sey­chelles, Kaza­khstan, Bhutan, Mon­go­lia, Viet­nam, Nigeria, Mal­dives and Saudi Arabia, among other coun­tries. 2011 was an­other mile­stone in the en­hance­ment of knowl­edge amongst the in­surance com­mu­nity. Last year, MII or­gan­ised seven con­fer­ences which drew 3,613 par­tic­i­pants and 81 speak­ers. MII also achieved steady progress and de­vel­op­ments in its mis­sion to pro­mote in­surance knowl­edge and in­for­ma­tion. MII Knowl­edge Cen­tre re­ceived 6,576 vis­i­tors in 2011, an in­crease of 21% over 2010. The Knowl­edge Cen­tre made numer­ous achieve­ments in im­prov­ing con­tents, ser­vices and fa­cil­i­ties, all of which are in line with one of MII’s ob­jec­tives to pro­vide a spe­cialised in­surance knowl­edge cen­tre the in­dus­try can be proud of. MII also takes pride in hav­ing been given the man­date to lead the Knowl­edge Man­age­ment Task Force (KMTF). KMTF, which con­sists of MII, Asian In­sti­tute of Fi­nance (AIF), IBFIM, In­sti­tut Bank-Bank Malaysia (IBBM), and In­ter­na­tional Cen­tre of Ed­u­ca­tion in Is­lamic Fi­nance (INCEIF). This unit looks into the in­te­gra­tion and ra­tio­nal­i­sa­tion of knowl­edge man­age­ment re­sources, tech­nolo­gies and ex­per­tise among its mem­bers. MII also launched the first Com­pe­tency Frame­work for the Malaysian In­surance and Taka­ful In­dus­try (CF-MITI) last year. CF-MITI was devel­oped to­gether with LIMRA/LOMA USA and The Aus­tralian and New Zealand In­sti­tute of In­surance and Fi­nance (ANZIIF), Aus­tralia. The frame­work serves as a com­plete set of Com­pe­tency Frame­work for ma­jor key job pro­files in the con­text of the Malaysian in­surance

and taka­ful in­dus­try. CF-MITI will be the fore­most per­for­mance stan­dards (guide­line), in tech­ni­cal and be­havioural ar­eas, for in­surance and taka­ful in­dus­try in Malaysia. In line with Bank Ne­gara Malaysia’s Fi­nan­cial Sec­tor Blue­print to es­tab­lish tal­ent devel­op­ment sup­port to build a dy­namic fi­nan­cial sec­tor in Malaysia, by de­vel­op­ing tal­ent at en­try level, pro­mot­ing con­tin­u­ous learn­ing for the ex­ist­ing work­force and en­sur­ing an ad­e­quate sup­ply of skilled tal­ent to meet the chal­lenges are the pri­mary ob­jec­tives. MII will con­tinue to gen­er­ate im­proved learn­ing and ed­u­ca­tion pro­grammes and fa­cil­i­ties to meet th­ese needs. MII or­gan­ised its 34th An­nual Gen­eral Meet­ing on 29 June 2012 at The Ritz-Carl­ton Kuala Lumpur. Dur­ing the meet­ing, three new direc­tors were elected to join the MII board of direc­tors and they are En Md. Adnan Md. Zain, CEO of MCIS Zurich In­surance Ber­had, Mr Chua Seck Guan, CEO of MSIG In­surance (Malaysia) Ber­had and Mr Fran­cis Lai Vun Sen, CEO of Pro­gres­sive In­surance Ber­had.

(From left) Pn Khadi­jah Ab­dul­lah, CEO of MII, En Hashim Harun, Chair­man of MII and Mr M. Chan­drasegaran a/l S. Mu­ru­gasu, com­pany sec­re­tary

Mem­bers at­tend­ing the meet­ing

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