Manulife Insurance Berhad (Manulife Malaysia), a leading health insurance provider, is shaking up the agent recruitment landscape with several strategic initiatives to attract the next generation of insurance professionals, with a particular focus on Gen Z. Manulife Holdings Berhad is a division of the Canada-based Manulife Financial Corporation. Through its subsidiaries, Manulife Malaysia provides a diverse array of financial protection, health, and wealth management products and services tailored to various customer needs. Currently, Manulife Malaysia caters to over 350,000 policyholders and wealth management clients.
According to income statistics in Malaysia, the youth unemployment rate is a significant concern, with 10% of individuals aged 15-25, who represent the Gen Z segment, currently without jobs. This translates to over 300,000 young Malaysians being unemployed. In response to this issue, Manulife sees a promising opportunity within the insurance sector. With only 54% of Malaysians holding insurance and takaful plans, there is substantial market potential that Manulife aims to tap into.
Talking about Gen Z recruitment today, Group CEO of Manulife Holdings Berhad, Vibha Coburn, said, “Here at Manulife, our agents are our partners for progress. Gen Z is a significant and rapidly growing segment entering the workforce and we see them as a valuable asset with the skills and aspirations that align with our program’s offerings. By attracting and retaining Gen Z talent, we’re also investing in and empowering our future. We understand their needs and wants and strive to bring them on board for a better future. We want to provide them with the awareness and also give them the opportunity to start somewhere with affordable products. This is what Manulife is driving.”
To strengthen their dedication to agent development, Manulife has launched several key initiatives, including the Manulife Business Academy, the Young Entrepreneurs Club, and the ALC Franchise Model. These programs offer comprehensive training, mentorship, and skill development to enhance career prospects for their agents. Additionally, recognizing the importance of engaging with digitally savvy future generations, Manulife has undertaken a digital transformation of their business processes. This transformation aims to provide greater convenience and efficiency for both agents and customers, ensuring a seamless and modernized experience for all parties involved.
To introduce Gen Z to these initiatives, Manulife Malaysia has scheduled recruitment drives on May 25, 2024, at Saujana Hotel KL, and on June 22, 2024, in Johor Bahru. Furthermore, a career fair will be held on June 8-9, 2024, at the Setia Spice Convention Centre in Penang. All youths are encouraged to participate in these events to explore promising career opportunities and gain valuable insights into the financial protection and wealth management industry.
To learn more about Manulife Malaysia, click HERE.
