KUALA LUMPUR: Manulife Insurance Bhd 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.
Based on the income statistics in the country, unemployment rates among Malaysian youths show concerns, with 10 per cent of youths aged 15-25 - which makes up the Gen Z segment - unemployed, totaling more than 300,000 individuals.
Recognising this, Manulife aims to create an opportunity within the insurance space, where there is a huge potential market with only 54 per cent of Malaysians having insurance and takaful plans.
Goup chief executive officer of Manulife Holdings Bhd Vibha Coburn said Gen Z is a significant and rapidly growing segment entering the workforce
"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," Vibha added.
To further drive its commitment and support in agent development, Manulife has several initiatives.
They include the Manulife Business Academy, Young Entrepreneurs Club and the ALC Franchise Model that provide holistic training, mentorship and skill development to further career opportunities.
Manulife has also digitally transformed its business processes to provide convenience to both agents and customers.
To provide Gen Z's with an opportunity to learn more about these initiatives, Manulife Malaysia is organising recruitment drives on May 25 at Saujana Hotel KL, and June 22 2024 in Johor Bahru.
There will also be a career fair on June 8-9 at the Setia Spice Convention in Penang.