Lee Ming Ching of Universiti Malaya bags RM17,000 cash as the Grand Prize and Best Video Award winner at the #IDAREYOUChallenge2017 Grand Finale

LIAM creates awareness on the importance of financial planning and protection among the young generation

Kuala Lumpur, 5 September 2018 – Lee Ming Ching, a solo participant from Universiti Malaya bagged a total of RM17,000.00 cash for the Grand Prize of RM15,000 and the Best Video Award of RM2,000 at the Grand Finale of the #IDAREYOUChallenge2017 held on 3 September 2018 at Lanai Kijang, Bank Negara Malaysia, Kuala Lumpur.

Lee Ming Ching outshined nine other finalists from three Universities with the most creative business plan and the best video on the topic, “Explain some ways on how the rural areas and underinsured markets can benefit from Life Insurance.” Lee  Ming Ching’s proposal won the hearts of the jury with her presentation and research work done in her hometown in Pulau Ketam, Selangor highlighting the needs for life insurance and financial protection among the residents.

The 1st Runner Up went to Group Eleven from the Asia Pacific University who took home RM7,500 cash with their winning topic, “Why Is Life Insurance Very Important in Everyone's Life Especially Today? The proposal from Group Eleven attracted the jury with an “out of the box” idea on how you can protect the lives of your loved ones just by one simple way - Giving a Gift, as life itself is a Gift.

Meanwhile the 2nd Runner Up went to Nathaniel, another solo participant from IACT College (Advertising, Communication and Technology College), who spoke on “How Can You Reach Out To Everyone To Have A Life Insurance?” which won him RM4,000 cash.

The People’s Choice Video Award which was based on public voting on Facebook went to UTAR’s Stormers, a duo from University Tunku Abdul Rahman Kampar who produced a video on the topic, “Explain Some Ways On How The Rural Areas And Underinsured Markets Can Benefit From Life Insurance.” UTAR’s Stormers took home RM2,000.

A total of RM50,000 cash prizes were up for grabs in the various categories at the Grand Finale. The event was graced by Assistant Governor, Bank Negara Malaysia, Encik Nazrul Hisyam Bin Mohd Noh, as the Guest-of-Honour, who presented the prizes and trophies to the winners.

Speaking at the event, Encik Nazrul praised LIAM for the innovative effort targeting the millennial and encouraged the industry to open more collaborations with other stakeholders to make the industry more attractive and exciting.

Meanwhile, LIAM President, Ms Anusha Thavarajah said the #IDAREYOUChallenge initiative is to realize LIAM’s aspiration to be closer to the young generation and raise the awareness among them on the importance of financial planning and protection which would subsequently help them plan their long term financial goals as they enter the working world.

According to Anusha, “As a progressive industry player who is open to changes, we want to hear from the youth, your ideas, your strategies and the best formula to enable us to make changes and stay relevant. In this era of digitalization, the way  we approach the millennial has changed from the traditional way. The use of digital technology and social media are imperative to enable us to capture the market and fulfill the evolving needs and demands of today’s consumers.”

In his welcome address, Mr Ramzi Toubassy, Chairman of Industry Promotion Committee of LIAM, said the #IDAREYOUChallenge competition encourages students to think out of the box, to develop creative and innovative business/marketing plan which was focusing on the theme - “What would you do to feel financially secure”?

“The competition helps to instil the positive value of life in the minds of the young people, who are leaders of tomorrow, on how important for them to plan for their future. It also develops creative thinking, innovative and a change in mindset towards LIFE and it will make them understand the value of LIFE.”

“Other than cash rewards, potential winners will get recognition and expose themselves to the various career opportunities in the industry,” Ramzi added.

The campaign was launched on 3 October last year and saw the participation of 20 Universities and colleges in Malaysia including Sabah and Sarawak. It had attracted over 2,500 Group entries from students from various races, disciplines and courses. It went through a few stages; from pre-awareness stage via 20 roadshows and 10 classroom engagement sessions to formation of groups; shortlisting the top  30 teams to attend a Bootcamp for a pitch presentation; selection of the best 16 Groups to present at the semi-final stage in preparation for the actual marketing presentation with video shooting and production; and shortlisting the top 10 to compete at the Grand Finale.

The 10 finalists were from Universiti Malaya (UM), Universiti Tunku Abdul Rahman (UTAR), International Advertising, Communication and Technology College (IACT) and Asia Pacific University of Technology & Innovation (APU).

Held in Multipurpose Hall, Lanai Kijang, Bank Negara Malaysia, the event was also attended by Encik Abu Hassan Alshari bin Yahaya, Assistant Governor of Bank Negara Malaysia who is also a board member of FINCO (Financial Industry Collective Outreach Programme). Also present were CEOs of life insurance companies, stakeholders, senior management and representatives from financial services sector, officials from the Ministry of Education, Bank Negara Malaysia and lecturers from the participating universities.

The finalists were judged based on the presentation of their marketing proposal and video production. Among the criteria includes innovation, relevance and content, confidence, eye contact and gestures, voice tone, narrative impact, audio, creativity, strength of story and cinematography.

The #IDAREYOUChallenge2017 is a creative collaboration between LIAM and its 16 member companies under its community service platform, Insurans Hayat Cares and supported by the Ministry of Education Malaysia. Visit www.idareyouchallenge.com