In 2017, Malaysia’s insurance and takaful coverage penetration stood at 55%. This means that only five out of ten people are covered with a life insurance policy. It is also not surprising that most of the people covered by insurance are based in urban areas such as the Klang Valley. This means there is still a lot of potential for insurance agents to close this gap. The problem is also lack of education and awareness of financial products – life insurance in particular. This is why customers are advised to speak to qualified insurance agents who can first understand their personal financial situation, and then recommend products that will meet these needs in plain and simple language.
Agents deserve more credit for what they do. Being an insurance agent does not only revolve around travelling back and forth to meet potential and existing customers, meeting monthly targets and cold calling. It involves proper understanding of their customers and recommending the products that suit each personalised need, educating their clients on the consequence of protection gaps and being that one person who is available when an unfortunate event happens to any of their clients.
Typically, most agents start their business by approaching their friends and family, and continue to build their client list from the recommendations of these close contacts. There comes a point when these agents hit a wall of exhausted clients. For their livelihood, agents continue to pursue their reach further to cold calls and roadshows. GoInsurans has recognised that the industry could thrive with technology solutions that efficiently reduce all the additional effort the agents have been putting in. We are not looking to change hereditary practices that have been working for agents. We are proud that the features which we have incorporated into our platform can be used on its own or integrated into the agents existing working schedules, even when they are on the move.
GoInsurans is the first fintech platform in Malaysia dedicated to life insurance which efficiently connects qualified insurance and takaful agents to customers who are actively seeking coverage. The web-based platform helps interested customers search for life insurance and takaful agents based on their current location and the company they would like to get their coverage from. They are also able to transparently view the ratings of the insurance agents which have been provided by other customers who have used our service. Once agents and customers have been matched, they can use the app’s inbuilt in chat function to securely converse and schedule face to face meetings in order to move on to the next step.
The best part for insurance and takaful agents is that customers who visit the GoInsurans platform are already on the lookout for life insurance and would offer a better take-up rate compared to referrals and cold calls. Agents benefit by getting quality leads and sign-ups to meet their monthly targets resulting in a better use of time, location and energy.
If you are a customer looking for life insurance coverage, sign up for the free service which connects you to the best agents in your area by visiting goinsurans.com.
If you are an insurance or takaful agent interested in getting qualified leads from customers who are actively looking for life insurance, sign up as a GoInsurans Partner for a free trial.
If you would like to understand our business or have more questions, feel free to hit the chat button or leave us a comment.