Life Insurance Industry launches its first intake of students under LIAM Structured Internship Programme

Young talents were trained to develop good leadership and sharpen communication and presentation skills at a 2-day motivational workshop
Kuala Lumpur, 30 November 2016 – The Life Insurance Association of Malaysia (LIAM) in collaboration with Ministry of Higher Education (MOHE) and the Malaysian Insurance Institute (MII) yesterday launched its first intake of students under the LIAM Structured Internship Programme (LIAM SIP) with some 30 undergraduates/graduates from universities in Malaysia.
In conjunction with the launch, the young talents were trained to develop good leadership and sharpen communication and presentation skills at a 2-day motivational workshop scheduled on 29th November 2016 and 2 December 2016 at MII Training Centre in Kuala Lumpur. The students were also briefed on industry’s landscape, regulatory environment and key issues during the workshop.
Speaking at the launch, Chairman of Industry Promotion Committee of LIAM, Mr Ramzi Toubassy said, the programme which commenced in September this year is targeting young talents to join the industry which has wide spectrums of job opportunities and prospects in tandem with the dynamic growth and transformation of the life insurance industry.
“The LIAM SIP is part of the industry’s contribution towards human capital development under the Insurans Hayat Cares’ community platform.  We are providing opportunities to young undergraduates to gain real-life work experience and put theories they learnt in universities into practice.”
“The 3-month internship experience will also open the doors for students to gain insight on the life insurance industry as a global and progressive industry which provides vast career opportunities in the various divisions of the life insurance companies/reinsurance companies in Malaysia. Through this initiative, we encourage students to develop good leadership skills through the training process and hope to produce interns who are confident, creative and innovative.” Ramzi added.
He said, “With the support from MOHE, LIAM is able to reach out to students from various universities across Malaysia to get their participation in this internship programme. We see this collaboration as an ideal platform as we share the same vision and objectives in contributing towards nation building.”
Currently, the life insurance industry employs over 20,000 employees and hires over 85,000 agents in Malaysia. The industry has been established for over hundred years in Malaysia. It is a resilient component of the financial sector and a stable industry which has grown from strength to strength supporting the insurance needs of the Malaysian economy. Today, the insurance and takaful industry contributes 6% of Malaysia’s Gross National Income (GNI), with premiums totaling RM6.8 billion in 2015.  The industry is on a strong financial footing with excess capital of RM6.81 billion.
In line with the Government’s Transformation Programme, which emphasizes on establishing Malaysia as a major insurance centre, there is a high demand for skilled personnel in insurance industry. As part of a 10-year Government initiative, it will ensure a long term job security for potential talents who plan to join the industry and consider the industry as a career of choice. The insurance industry has also established a RM45 million Capacity Building Fund managed by the Malaysian Insurance Institute to provide world-class training programmes and certification courses for employees of the insurance industry. Through the training and certification courses, our agents and intermediaries undergo rigorous training and examinations to equip them with the knowledge, skills and competency to serve their policyholders.
For young undergraduates who are looking for a rewarding career in the insurance industry, you are invited to submit your resumes to  The LIAM Structured Internship Programme is open to all final year Malaysian students of all disciplines from universities in Malaysia with CGPA 3.0 and above. Successful candidates will be attached with any of the 16 LIAM member companies (life insurance companies or reinsurance companies).  Interns will be paid a monthly allowance of RM800 per month.
LIAM Member companies:
1. AIA Bhd.
2. Allianz Life Insurance Malaysia Berhad
3. AmMetLife Insurance Berhad
4. AXA AFFIN Life Insurance Berhad
5. Etiqa Insurance Berhad
6. Gibraltar BSN Life Berhad
7. Great Eastern Life Assurance (M) Berhad
8. Hannover Re, Malaysian Branch
9. Hong Leong Assurance Berhad
10. Manulife Insurance Berhad
11. Malaysian Life Reinsurance Group Berhad
12. MCIS Insurance Berhad
13. Prudential Assurance Malaysia Berhad
14. Sun Life Malaysia Assurance Berhad
15. Tokio Marine Life Insurance Malaysia Bhd.
16. Zurich Insurance Malaysia Berhad
It is hoped that through such initiative where we attract young talents to join the industry, would be able to educate more youths on financial planning and the importance of life protection and would help to fulfil the Government’s aspiration of having 75% of Malaysians insured by 2020.
In Support of