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Mon, Sep 07, 2020 – 5:50 am
Singapore
CHINA Life Insurance (Singapore), which typically sells its insurance products through banks and finance companies, now plans to hire more than 500 consultants in Singapore over the next five years to provide more dedicated service to its clients.
The company on Monday launched a project called Agency Channel, which aims to serve as a bridge between Singapore and China to bring insurtech solutions to market.
China Life Singapore, a unit of Beijing-based insurer China Life, said it will develop a competitive compensation structure that will lead to multiple options in the career progression of its consultants.
All consultants will be required to pass the relevant Singapore College of Insurance exams and undergo a 90-day in-house training program to ensure that their skills meet the expectations of the company.
The company move comes as Singapore’s job market is going through a difficult period. Total employment saw the largest quarterly contraction recorded in the second quarter, according to preliminary data released by the Ministry of Manpower on July 29. Layoffs also doubled to 6,700, compared to 3,220 in the first quarter.
China Life Singapore agency department head Jerome Png said that his new consultants will provide the company’s clients with a new experience.
“We continue to enhance the best practices of our industry peers to create even greater value for both our consultants and our clients. Our digital transformation projects in the years ahead will elevate the customer experience journey – and when complemented with the staff of our human touch agents will strike the perfect balance. “
Executive Director Lin Xiangyang said that through Agency Channel, the company aims to build a highly efficient management team and a first-rate sales team, provide a high-value product range, and create a high-quality service system. technology. The consultants will serve high net worth clients.
The company said it is leveraging technology, such as process digitization, to optimize insurance business practices to improve its overall standards of service.
China Life Singapore added that its insurance plans, including protection, endowment, investment-linked insurance and hybrid plans, are highly customizable to offer value-added financial solutions to clients to meet their needs for risk protection, retirement, estate management and inherited planning.
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