Sat, Jul 14, 2018 - Page 12 News List

Sales agents play critical role in growth, Allianz says

By Crystal Hsu  /  Staff reporter

Allianz Taiwan Life Insurance Co (安聯人壽) had more than 3,000 sales agents at the end of last month, an increase of 33 percent from last year and on track to hit 5,000 employees by 2020, the company said.

The hiring strategy demonstrates the importance of the Taiwanese market, which ranks as one the largest in the Asia-Pacific region, the local branch of German-based Allianz SE said.

“The structural reorganization initiated in 2015 has gained headway this year,” CEO Danny Lam (林順才) said on Thursday last week, adding that the firm has sought to expand its sales force by an annual net 20 percent.

The insurer said that its first-year premiums totaled NT$34.6 billion (US$1.13 billion) in the first five months of the year, representing a 79 percent increase from the same period last year and outperforming the industry, which saw a 13 percent gain.

The growth figures helped Allianz Taiwan rank among the top three in Taiwan, it said.

The insurer attributed the strong showing to its diversified portfolio, service quality and its “Allianz Discover” online platform.

Lam said he believes that the development of financial technology could go hand in hand with the hiring of sales agents.

The insurer is to organize a series of seminars across the nation next month to recruit more sales agents, he said.

“We believe that sales agents remain at the core of sales channels for the industry,” Lam said.

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