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Malaysia Achieves Next Level Growth with Asia Pacific Life Insurance Congress (APLIC)

May 5, 2017 Conferences No Comments Email Email

Malaysia will be attracting more than 5,000 life insurance practitioners from 13 countries as NAMLIFA gears towards hosting the 16th Asia Pacific Life Insurance Congress (APLIC) from the 17th to 19th, May 2017 at Resorts World Genting, Genting Highlands.

(from left to right) Mr. G Saseedaran – Project Admin Director 16th APLIC, Mr. Tan Kim Chuan – General Manager, Corporate Communications & Promotions Sin Chew Corporation, Ms. Yee Shiao Fong – Head of Brand Marketing & Comm, Zurich Malaysia, Mr. Daniel Toh – Chief Agency Officer, Zurich Malaysia, Mr Tang Kia Sing – Organizing Chairman of 16th APLIC, Mr S.K. Samy – APFinSA Chairman, Mr. James Bong – NAMLIFA President, Ms.Tan Mei Phing – Manager , Events Support MYCEB, Mr. Raymond Lew – Deputy CEO, Sunlife Financial, Mr. Andy Ng  – Sr. Vice President & Head of Centre For Excellence, Great Eastern Life Malaysia, Mr Ganesan – Head of Agency Development, MCIS Insurance Berhad, Ms. Sharon Leong – Senior Vice President  Kenanga Investors Berhad

The congress themed “Together As One” is expected to generate RM45million through foreign spending. Through this event, NAMLIFA will take lead for the inaugural National Insurance Day celebration to bring forth the message on the importance of insurance protection for the Malaysian public, in line with Bank Negara Malaysia’s aspiration to achieve 75% insurance penetration rate by 2020 from the current 54% recorded in 2016.

“The 16th APLIC being an international event, is set to promote Malaysia as an international Meetings, Incentives, Conventions & Exhibition destination in Asia.  As we target at least 60% of foreign participation, the inflow of foreign participants will also boost the tourism industry in Malaysia that will have direct and spillover effect on the local economy,” said Mr Tang Kia Sing, Organising Chairman of the 16th APLIC event. “This time around, we have lined up over 30 speakers from different parts of the world to share their expertise and experiences with the participants.”

As of 2016, a total of 12.6 million lives were covered, with per capita sum assured standing  at RM41,055. The figure appears below the average mortality protection gap of about RM150,000 for each member of a family, thus, with the APLIC event there is tremendous opportunity for growth and moral responsibility as practitioners to close the gap.

“Consequently, the APLIC congress is a forum for advocating critical developmental issues, agenda for the good of the insurance business and the ultimate benefits of countries in the sub-region,” said James Bong, President of NAMLIFA.

Our working committee members consist of approximately 300 volunteers who are members of NAMLIFA and through this we hope to seek opportunities to network with industry participants from virtually every country,” added Bong.

For many decades, the insurance industry has been striving to spread awareness of various products. In today’s connected world, it becomes essential to create a common platform for life insurance practitioners to come together, learn and upgrade professionalism and inspire one another in an environment of warm fellowship.

“The need to have this congress calls for the need to increase competence of the agency force through education. We foresee a rapid and healthy economic growth and rising disposable incomes which will continue to boost for demand of insurance products in many Southeast Asia markets. We are sure the participants of the 16th APLIC are going to benefit tremendously through effective learning from all the great speakers,” said Mr.S.K.Samy, Chairman of Asia Pacific Financial Services Association (APFINSA)(For full story and photo, please see attachment)

Your kind assistance in providing  media coverage in your esteemed media is very much appreciated and thanked in advance.

Issued on behalf of National Association of Malaysian Life Insurance Fieldforce and Advisors (NAMLIFA).

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