MII Capacity Building Projects
The Malaysian Insurance Institute (MII) has introduced 29 CBPs with the aim of improving and enhancing capabilities in developing human capital across the insurance industry.
Capacity Building Projects (CBP) were initiated by Bank Negara Malaysia in 2009 as one of the tools to uplift the standards and quality of the training institutions.
To date, the Malaysian Insurance Institute (MII) has introduced 29 CBPs with the aim of improving and enhancing capabilities in developing human capital across the insurance industry.
PILLAR 1: RESEARCH & THOUGHT LEADERSHIP (CONTENT FRAMEWORK AND QUALIFICATIONS)
The objective under this pillar is to identify key milestones in professionalising training to meet the requirements of the insurance industry. MII has been developing a number of professional qualification programmes to promote higher standards of professionalism within the insurance industry. Currently, MII has developed 77 modules for life and general insurance practitioners that have attracted 29,117 participants since 2010. In addition, MII through PIAM, LIAM and MITBA is committed to building a pipeline of young talent to meet the talent gap in the industry. Internships programme has been established in order to equip talent with relevant insurance knowledge to increase their competitiveness and marketability. A total of 231 interns from the general, life insurance and broking segment have participated in this programme and the average retention rate of graduates recorded as of May this year is 60%.
PILLAR 2: TALENT MANAGEMENT
The objective under this pillar is to develop world-class professionals across the insurance industry. AIF’s Project Management Office (PMO) has been instrumental in ensuring proper governance throughout the implementation of the capacity building programmes. PMO also ensures the smooth management of projects and effective delivery according to project budgets and timelines as agreed by the trustees. A CBP Impact Study was conducted in 2014 and 2016 which reflected MII had met its CBP objectives.
PILLAR 3: SYSTEMS TRANSFORMATION
This pillar leverages on technology to achieve sustainable and effective organisational development. With the implementation of an enterprise wide integrated learning management system, MII can now leverage on technology to increase operational efficiency and accelerate the execution of its human capital development strategies. The new system is able to accommodate more than 100,000 active users. Currently, MII is able to administer an average of 6,000 exams monthly. As an enabler to drive human capital development in the insurance industry, MII continues to provide the industry with wider access to MII’s training programmes and modules via the e-learning platform accessible through www.mii4u.org.
PILLAR 4: KNOWLEDGE MANAGEMENT
The objective under this pillar is to consolidate MII’s position as a leading content provider for the insurance industry. MII has made a wide range of books, magazines, journals and periodicals accessible to practitioners to help them keep abreast of the latest updates and new developments in the industry.
As of June this year, the Research and Resource Centre at the MII City Centre has 22,739 traditional and electronic materials including books, magazines, journals and periodicals. A total of 32,273 e-books and audiobooks were accessed and 4,606 by members.
The electronic database, available at the MII City Centre, enables users to easily find relevant reference materials.
Under this pillar, MII has also revised and published 21 insurance books for its professional qualifications, namely the Associateship of The Malaysian Insurance Institute (AMII) Levels 1 and 2.
This programme is designed to equip participants with technical knowledge and practical skills relevant to the insurance industry. MII has also published two new books, Customer Service Excellence in Insurance and Managing Insurance Operations Profitability, with eight books currently being developed.
PILLAR 5: BRAND BUILDING AND INDUSTRY ENGAGEMENT (ENHANCING FACILITIES)
The objective under this pillar is to enhance the image of MII and the products and services it offers, nationally and regionally.
In line with the objective to strengthen the brand equity of MII, initiatives were undertaken to create awareness of and generate interest in MII amongst students, participants, experts, trainers and the industry as a whole.
MII has nine international affiliates within the ASEAN region and has established strategic partnerships with Japan, Singapore, Taiwan, Bangladesh.
The new MII City Centre was established in a centralised location at Wisma Sime Darby to service industry practitioners. MII has received positive feedback on its location from its customers due to good accessibility via public transportation and the availability of parking facilities.
As of June, the new MII City centre has recorded a total of 44,669 visitors since it opened in 2015.
The CBP has managed to provide a strong platform for MII to progressively raise its standards and improve its product development to better meet the industry’s needs.
“AIF has done well in identifying the capacity needed for the industry.
“ILMS system to be rolled out for the Insurance Industry use is a step in the right direction as it will improve accessibility to training programmes and is in line with the move towards IT applications in the younger generation,” said Dato’ Koh Yaw Hui, Great Eastern Life Assurance CEO.
“The move to the new MII City Centre is a good move as it has improved the accessibility, facilities and security for students.
“The subsidised courses conducted by MII have had some impact on the organisations,” said Datuk Francis Lai, Progressive Insurance Berhad CEO.