Insurance awareness is still low in Malaysia because most people unaware about general insurance(besides motor insurance) and what it covers. Hence, they only associate life insurance with insurance. You can also sign up as a general insurance agent with general insurance companies like, Allianz General, MSIG, Lonpac and etc.
As very few people study insurance at university, there is a shortage of experienced staff in the general insurance industry despite all the recent M & A activities. Quite a few people I know were headhunted and offered jobs in Singapore too.
Because of a few bad apples and lack of regulation previously, most people perceive life insurance agents in a negative manner, and it is not easy to be a life insurance agent without the right contacts and sales skills.
In my opinion, its easier to sell general insurance(like motor/ foreign worker/ fire insurance) because it is required by authorities/banks. Hence, most banks and vehicle dealers are now agents for general insurance companies to earn additional income, and the commission rate range from 10-25% annually.
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Sep 22 2012, 05:52 PM
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