Kuala Lumpur, Tuesday, 24 February 2015:  Mr. Loke Chang Yueh, an actuary by training, has done the nation proud for winning the Young ASEAN Manager Award (YAMA) at the 40th ASEAN Insurance Council (AIC) Meeting held in Brunei recently.

 

Mr. Loke, 39, currently the Appointed Actuary of Great Eastern Life Assurance and Great Eastern Takaful, Malaysia, won the award for his contribution and achievements in the insurance industry.  A total of 10 nominations were received from the ASEAN countries but only 3 were shortlisted for an interview with a panel of judges before the winner was announced. Mr. Loke received the award from Hjh Mahani Hj Mohsin, Executive Director of Autoriti Monetori Brunei Darussalam (AMBD) accompanied by Mr. Chua Sek Guan, Chairman of AIC and Ms. Evelina Fadil Pietreuschka, AIC Secretary General.

 

Speaking on his achievement, Mr. Loke who has been in the insurance industry for over 16 years with experience spanning across financial reporting, reinsurance, product development and pricing as well as strategic planning said, “I am humbled and thrilled to receive this award and would like to offer my gratitude to AIC for this honour.”

 

“This motivates me to work harder and over the next few years, I would like to pick up new skills to sharpen my knowledge. I believe small but continuous improvement will eventually lead me to greater heights,” he shared.

 

He has a simple motto to live by - kindness and compassion will bring happiness not only to your life but also to the people around you. He attributes his success to those who have supported him along the journey, in particular, his family members who stood by him through thin and thick.

 

Mr. Loke has collaborated with his fellow colleagues in the industry to co-author two papers on takaful, i.e. “Communicating Takaful” and “Application of Wadiah Model Concept in Family Takaful”. The latter was spearheaded by the International Sha’riah Research Academy for Islamic Finance with the aim of introducing a new takaful model in Malaysia.

 

When asked on what advice he would give to young Malaysians, Mr. Loke continued, “One should focus on strengths and manage around weaknesses.  The key to personal development is building on who you already are because each of us possesses unique set of talents and have our own passions. Perseverance with a healthy dose of optimism coupled with hard work and determination is important to achieve success in whatever you do.”

 

Mr. Loke believes that it is now an exciting time to be part of the Malaysian insurance industry. Our working-age group currently constitutes about 70% of the total population. This will continue to spur future growth of the industry as this group has higher purchasing power and increasing awareness. In recent years, we have witnessed the entry of large global players which will not only result in stronger insurers but also greater scope for innovation as well as involvement in megatrends such as digital transformation, big data and customer centricity.

 

YAMA was introduced in 2005 to reinforce AIC’s initiative to encourage more young managers within the industry to actively contribute and excel in their field of work. This will lead to the development of a skilled pool of human capital within the ASEAN insurance industry.

 

Young managers are the future leaders of the industry and there is a need to encourage them to establish their talent and leadership qualities.  By recognizing young managers’ outstanding contributions to the insurance industry, it is also hoped to encourage, motivate and inspire other managers to become leaders of substance in the business frontier.  The competitiveness of these young managers will in turn help to shape a dynamic workforce for the insurance sector in the ASEAN region.

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