Sun Life Malaysia cements strategic alliance with CIMB-Principal
KUCHING: Sun Life Malaysia officially cemented its strategic alliance with CIMBPrincipal Asset Management Berhad ( CIMB- Principal) recently.
Since its foray into the Malaysian insurance industry back in 2013, Sun Life Malaysia has been focused on growing its core bancassurance business through its exclusive partnership with CIMB Bank.
The venture into the Agency channel is an extension of its multi-channel distribution strategy to reach out to even more Malaysians.
An official launch event was held in Kuala Lumpur whereby present at the event were Claude Accum, President of Sun Life Financial Asia, Raymond Lew, CEO & President / Country Head of Sun Life Malaysia, Effendy Shahul Hamid, CEO, Group Asset Management & Investments, CIMB Group, Munirah Khairuddin, CEO of CIMB-Principal and over 300 consultants of CIMB-Principal’s distribution channel - CWA, and management members of both organisations.
During the occassion, Lew said, “We are very excited over this long-term collaboration with CIMB-Principal. It enables Sun Life Malaysia to offer its wide range of innovative and affordable insurance protection solutions, through CWA’s over 6,000 certified consultants.
“The collaboration will help increase the awareness on the importance of life insurance among Malaysians, and also supports our government’s objective to achieve an insurance penetration rate of 75 per cent by 2020.”
“Our purpose is to provide lifetime financial security that is centered on easy and affordable access to insurance and Takaful coverage,” he added.
Munirah Khairuddin, chief executive officer of CIMB-Principal said, “CIMB-Principal is pleased to partner with Sun Life Malaysia to enhance our customer value proposition through our agency platform, CWA.
“We are confident that this strategic partnership with Sun Life, a leading global insurer with an impressive track record, will further boost our life insurance products’ offerings as part of CWA’s holistic financial solutions to meet customers’ needs at every stage of their lives.”
In conjunction with the launch, Sun Life Malaysia also took the opportunity to introduce a total of four key solutions available immediately for CIMB-Principal’s consultants to introduce to their customers.
Sun Prime Link-i is a first-inthe-market takaful back-end load investment- linked plan which enables our clients to grow their investments faster than many existing plans while attaching relevant protection-based optional riders.
Meanwhile, Sun Wealth Protect-i is a simple death and critical illness Takaful plan, offered together with CIMB-Principal’s existing Unit Trust (UT) and Private Retirement Scheme (PRS) plans.
The third plan is Sun MediMaxi, a medical top-up Takaful plan aimed at enhancing our clients’ existing medical coverage, offered together with CIMB- Principal’s PRS plan. The final plan is Sun Hajj, a Universal Takaful savings plan with a focus on helping our clients save for Hajj while providing relevant protection.
Since its establishment in 2013, Sun Life Malaysia has consistently achieved remarkable growth and is highly rated as one of the fastest emerging organisations in the industry.
CIMB Wealth Advisors (CWA), a distribution arm of CIMBPrincipal is dedicated to create, protect and preserve wealth through a multi-product platform that integrates the distribution of unit trust funds together with protection plans, trust nomination and estate planning solutions.
Through this holistic approach and strategic alliances with reputable partners, CWA’s range of products and services are tailored to suit everyone’s needs.