Taking Stock of 2016
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 firstname.lastname@example.org rg.my