LIAM’s youth engagement programme creates awareness on the importance of financial planning and protection among the young generation

 

Lanai Kijang, Kuala Lumpur, 3 September 2018 – Ten finalists from four Universities today pitched their creative business plans and videos to the life insurance industry at the Grand Finale of the #IDAREYOUChallenge, an innovative youth engagement programme organized by the Life Insurance Association of Malaysia (LIAM).

 

A total of RM50,000 cash prizes were up for grabs in the various categories at the Grand Finale held at Lanai Kijang, Bank Negara Malaysia.  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 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.

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