LIAM elects Raymond Lew and Khoo Ai Lin as its new President and Vice-President at its 49th Annual General Meeting
Kuala Lumpur, 30 March 2023 – The Life Insurance Association of Malaysia (LIAM) elected Raymond Lew, Chief Executive Officer and President of Sun Life Malaysia Assurance Berhad as LIAM President and Khoo Ai Lin, Chief Executive Officer of Zurich Life Insurance Malaysia Berhad as Vice-President at its 49th Annual General Meeting held on 29 March 2023.
Raymond Lew brings over 30 years of financial experiences to his role as the Chief Executive Officer & President of Sun Life Malaysia Assurance Berhad (“SLM”). He also serves as the Country Head of Sun Life Malaysia where he oversees the operation of Sun Life Financial’s businesses in Malaysia. He is also a key member of the Sun Life Asia Executive Committee.
Raymond joined Sun Life Malaysia as Chief Distribution Officer in 2013, bringing with him a breadth of experience having held various senior management positions with both local and international MNCs and financial institutions.
He is a transformational leader where he pioneered and grew Sun Life Malaysia’s distribution, marketing and analytics operations, drove client experience and digital transformation agenda and most notably, steered the expansion of partnership network, development of Insurance Specialist and other new distribution channels, all of which has led to the impressive business transformation of Sun Life Malaysia.
Raymond was the Vice President of LIAM in 2021 and 2022 before being elected as President in 2023.
Meanwhile, Khoo Ai Lin who leads Zurich Life Insurance Malaysia Berhad (ZLIMB), brought with her an excellent understanding of the insurance markets in Malaysia complimented by over 29 years of experience in various strategic and senior management roles. Her previous roles in distribution channel management, marketing, product development and operations are vital for her to lead the business and drive growth via existing distribution channels as well as developing multi-channel distribution strategies, customer centricity programs and enhancing digital adoption initiatives.
She was formerly Group CEO at Tune Protect Group and has also held key senior roles in Prudential Assurance Malaysia Berhad, Hong Leong Assurance Berhad and AIG Malaysia.
Khoo Ai Lin holds a Bachelor of Economics majoring in Banking & Finance from La Trobe University, Australia.
The Association is also supported by seven other committee members namely Ben Ng, CEO of AIA Bhd; Paul Low Hong Ceong, CEO of Etiqa Life Insurance Berhad; YBhg Dato Koh Yaw Hui, CEO of Great Eastern Life Assurance (Malaysia) Berhad; Loh Guat Lan, CEO of Hong Leong Assurance, Vibha Coburn, CEO of Manulife Insurance Berhad; Lim Eng Seong, CEO of Prudential Assurance Malaysia Berhad; and Toi See Jong, CEO of Tokio Marine Life Insurance Malaysia Bhd.
According to LIAM CEO, Mark O’Dell, over the years, LIAM continues to embark on proactive measures and activities in servicing the rakyat from all walks of life. With the strong support of LIAM’s 16 member companies and the regulator, we remained steadfast in our commitment to easing the financial pressures on the consumers by way of implementing various strategies and innovative plans. Over and above that, we made sure they were continuously covered with insurance protection and educated on their roles as responsible consumers.
The industry also has set out a five-year roadmap and strategic plan to achieve the desired targets set under the Financial Sector Blueprint (FSBP) 2022-2026 launched by Bank Negara Malaysia (BNM) in January 2022. The FSBP 2022-2026 highlights the need for the industry to continue to evolve and adapt to meet the changing needs of consumers and the wider economy by focusing on key priorities so the industry can contribute to a more dynamic, innovative, and sustainable financial sector in Malaysia.
“In moving forward, LIAM will be working closely with BNM, the industry’s key stakeholders, and its 16 member companies to seek further guidance and support to ensure the smooth implementation of the respective initiatives in achieving the FSBP agenda and the national aspiration in increasing the penetration rate and narrowing the protection gap in the country,” said O’Dell.