Tak­ing Stock of 2016

Insurance - - EDITOR’S NOTE -

This year's global eco­nomic data has been a mixed bag, at best, as we see 2016 out. The re­gion's big­gest economies – China and Ja­pan – re­main dor­mant for now and with cen­tral banks are ex­haust­ing their mon­e­tary pol­icy sup­port. Back in Malaysia, the World Bank ex­pects our GDP to hit 4.2% by year end on the back of a soft econ­omy.

At MII, which re­lies heav­ily on in­dus­try sup­port, we are also try­ing our best to ad­dress the eco­nomic chal­lenges. We very much grate­ful for the back­ing we have been re­ceiv­ing thus far. Con­struc­tive com­ments from mem­bers are more than wel­comed.

As we look ahead to 2017, MII is on track to tackle the fu­ture since the next decade is fore­casted to house seis­mic change in tech­nol­ogy and hu­man be­hav­iours. With each ad­vance­ment or change, the in­dus­try is chal­lenged to stay a step ahead and pivot to en­sure favourable re­sults. For in­di­vid­u­als, th­ese changes push us to ad­dress is­sues dif­fer­ently and with fresh eyes.

Let's have open dis­cus­sions on how MII and the in­dus­try can col­lab­o­rate and lever­age on each oth­ers' strength. MII can play a vi­tal role in help­ing to pro­vide com­pa­nies with life­long learn­ing, pro­fes­sional de­vel­op­ment ed­u­ca­tion and skills train­ing. It will close the gap on skills and tal­ent short­age.

Cur­rently, we are de­lighted at new re­quests from com­pa­nies to de­velop and con­duct com­pe­tency assess­ments, CPD, cer­ti­fied tech­ni­cal pro­grammes for their staff and agents, and com­pe­tency train­ing. We are open to dis­cuss such op­por­tu­ni­ties with other com­pa­nies.

In ad­di­tion, MII re­cently un­veiled its Fel­low­ship pro­gramme, aimed at As­so­ci­ate­ship hold­ers and se­nior lead­ers to en­hance their knowl­edge, ex­pe­ri­ence and pro­fes­sional recog­ni­tion. We have in­vited sev­eral lead­ers and CEOs to par­tic­i­pate, and com­ments so far have been en­cour­ag­ing.

Mean­while, the new AMII ex­am­i­na­tion takes off this quar­ter with some "heavy" sub­ject be­ing split and in­tro­duc­tion of new sub­jects to help young stu­dents. Self-study stu­dents will have con­tin­u­ous as­sess­ment. We hope this will in­spire them to stay on track.

In the com­ing year, the Malaysian in­sur­ance in­dus­try will con­tinue the im­ple­men­ta­tion of the LIFE Frame­work, where one of its ob­jec­tives is to en­sure that 75% of the pop­u­la­tion are in­sured by 2020. In­sur­ance De­vel­op­ment De­part­ment Di­rec­tor Yoon Yew Khuen also opens up on his new role and the im­me­di­ate the fo­cus on the im­ple­men­ta­tion of LIFE Frame­work and lib­er­al­i­sa­tion of the mo­tor and fire classes of busi­ness.

LIAM Pres­i­dent shares views on the in­dus­try stay­ing rel­e­vant and take ad­van­tage of the in­ter­net as an al­ter­na­tive chan­nel for prod­ucts. On the sub­ject of con­duct­ing busi­ness via the in­ter­net, one should stay abreast with the de­vel­op­ments of cy­ber threats that seek to dam­age busi­nesses.

In clos­ing, sing, I would like to wish our read­ers,aders, part­ners and MII mem­bers ers a fruit­ful jour­ney ahead. . Merry Christ­mas and a Happy New Year!

Dato’ Haji Syed Mo­heeb Syed Ka­marulza­man aman Editor in­sur­anceed­i­tor@mii.org.my rg.my

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