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Claude A, Accum, President of Sun Life Financial Asia, a Canada-based financial services company, views Asia as having a bright outlook for the insurance industry the way to achieving growth.
Asia's growing GDP and population growth Sun Life Financial Asia's business in the region, with the company's policy of investing in local career paths, such as hiring local CEOs, proving effective in strengthening its customer base, according to a top foreign insurance executive.
Claude A. Accum, President of Sun Life Financial Asia, a Canada-based financial service company, said that two thirds of Sun Life Financial's customer base is expected to be outside Canada, with a large portion expected to
"A quarter of Sun Life Financial's income can come from Asia," said Claude, who was appointed President of Sun Life Financial Asia last year.
According to Claude, Asia C $ 100 million in the first quarter of 2018, and is looking to generate C $ 400 million to C $ 500 million per year. "Three years ago, Asia contributed 7 percent of our company's total earning and today, it is closer to 17 percent and growing. He said, "he attributed to the growth of growth in Asia to the region of GDP growth of between 5 to 6 percent and its population growth, with a rising middle
Amid this highly favorable backdrop, Sun Life's strategy to invest in local career paths in the company's operations in Asia by local hiring CEOs and management teams from the respective countries where Sun Life operates in local markets (19659003) Sun Life, established in Canada in 1865, has operated in Asia since the 1890s, with Hong Kong becoming the first location of its operations in the region, followed by Philippines. Sun Life operates in China, India, Malaysia, Vietnam and Indonesia.
Of the seven countries where Sun Life operates, Sun Life Financial Indonesia, Claude disclosed. Sun Life Begins to Be Helmed by a Local Leader in Indonesia in 2015 When Elin Waty Was Appointed CEO of Sun Life Financial Indonesia.
"We are moving upward. Where Sun Life operates. "According to Claude, the market penetration index in Indonesia and the Philippines is at 1.5 percent, lower compared to the 5 to 6 percent recorded in mature countries. "So there is an opportunity for insurance penetration to quadruple. Here in Indonesia, with a population of some 260 million, you can double your size every year, which means you're creating the future. "He pointed out.
In such saturated markets as Canada with population of 30 million, he said, it takes 12 years to double the market share or create the future.
Claude A. Accum, based in Sun Life Asia Regional Office in Hong Kong President of Sun Life Financial Asia, President of Sun Life Financial Asia, Claude is responsible for the President of Sun Life Indonesia, Elin Waty, and President of Sun Life Financial Asia. company's Insurance & Wealth Business in Asia, and for Sun Life's International High Net Worth Insurance Business.
Claude joined Sun Life in 1983 and has deep business and functional experience across the company and the industry from serving in a variety of senior leadership roles at the company.
Prior to his appointment to Asia, he led the company's global risk, actuarial and asset-liability management functions as Executive Vice President and Chief Risk Officer. Claude previously headed Sun Life's pension and individual life businesses in Canada and the United States and held leadership roles in actuarial, risk and investments.
Indonesia – one of the seven economically growing countries where Sun Life operates – has become Sun Life's
As of 2018, Sun Life has operated in Indonesia for 23 years, which is a relatively short time compared to Hong Kong and the Philippines where the company has operated for over 125 years and 123 years respectively.
According to Claude, the standard of living in Asian countries, including Indonesia, has been compared to the world.
They will be more economical choices and they will, for example, buy life insurance products, health products, prepare funds for their education, etc., "he said. 59003] "We (Sun Life) help them to manage their financial risks. We are convinced of the importance of living in the United States of America, "said the executive who holds a Bachelor of Science degree in Actuarial Science from the University of Toronto.
Sun Life Indonesia is witnessing robust insurance growth [Strategic Direction]
Strategic Steps taken to grow Sun Life Financial Indonesia, including by investing in agency building, increasing the agency's workforce, building multiple distribution channels through agency, bancassurance and digital platforms to speed up business growth, strengthening relationships with partners and partners with TCASH, Telkomsel's electronic money system, to reach a wider segment of society.
(19659003) Various training programs are available to those skilled in the art, which are able to provide them with a better understanding of their capabilities, skills and sense of professionalism.
"Under our" Most Respected Advisers' initiative, our focus is on the quantity of customers and customers, which should be highly professional relationship between customers and agents. , "He said.
Sun Life Indonesia has reached 100,000 new customers per year, he said.
With the digital revolution impacting all fields, including insurance, Sun Life has created an innovative clients' application (app.), Through which customers can make transactions via their mobile phone or tablet in a matter of minutes, part of the multiple distribution channels the company offers to customers.
"We make it easier for customers to look up their balance and basic information, such as address, contact details, policy, etc.," he said.
Sun Life has been present in Asia for more than 100 years "What are the ingredients for sustainable business growth?"
Claude, who has 35 years of working experience at Sun Life, knows the answer well.
According to Claude, insurance is a long-term business and that's why it's essential to have a long-term mindset.
"When entering a country, we think of the long-term, not just 20 or 25 year-ends 50 and 100 years," he said.
"We create products that can fulfill customers needs throughout their journey of life. The products cater to the different phases of life: childhood, young age, those in the middle of their career, the elderly, etc. Sun Life offers "Sun Life offers."
In addition to hiring local CEOs and management teams, Sun Life brings technical expertise, expert in actuarial and investment expertise business growth in Asia.
Sustainable business
Investing in employees by providing opportunities to pursue business in the company is part of the way Sun Life makes its business sustainable. "We also encourage leaders and employees in the company to consider working for us in another country. We encourage mobility among our staff and our workforce, "he said.
"So Elin does a great job here in Indonesia. I would not mind having a job in the country, which will be fantastic. That's why it's crucial to invest in their career path, "he remarked.
Aside from investing in employees, Sun Life also in the community by, for example, organizing charity events that provide health benefits, such as the walk in Bali held in January of this year.
Claude said "Culture". Sun Life, he said, was a great company that embraces the culture of teamwork, respect for one another and "doing the best for our customers."
"I have had the privilege of working for Sun Life in Canada, the US , and now in Hong Kong. So I have worked for one company for 35 years and never had to change my email address once. How fantastic is that, "he said, laughing. ( Sudibyo M. Wiradji )
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