Exclusive Interview

LV & Associates: Insurance Industry, Relevant & Lucrative

Hard to believe, especially when you are allergic to the likes of Salesman or as with the subject of this month’s interview, insurance agents, that the latter has become a much sought after career. To the point that there are many with lucrative job finding themselves crossing over to what seemed to be even more lucrative career. Such is the pull of the industry which has left behind the door to door persona and have embraced the image of a all round solutions provider.

One such agency that is enjoying great success is LV & Associates Consultant Sdn Bhd, which up to 2008 have been enjoying the growth rate of 30-70%.  “Only last year the growth 5% as a group,” said its Managing Director Low Thiam Siew in an exclusive interview with JobsDB Malaysia.

He noted that the strong growth and the potential to earn limitless amount of paycheque provided you work hard for it had lured many from different industries.

“Some people joined this business, even when earning nine or ten thousands a month,” said Low. “Because they realise the potential upward mobility is limited there.”

Low said that not all recruits are fresh faced patsies; there are even those who are seniors from reputable organisations.

“I got someone from MNC after working there for ten years; they know they can’t go anywhere after certain age” said Low. “Also, the issue on competing with new people, younger, with less qualifications earning RM30 – 50 thousands per month.”

He added that the seniors who join LV has seen and realised that their potential is limited. They realised that this is one way of earning lucrative income without even pumping in investment. “In fact, you don’t have to fork out money. If you need or desire and you want it, you can do it. Nothing is impossible,” Low said.

LV Associates, which provides solutions as varied as those from General insurance, Allianz, General, LOAPAC, Multipurpose, MSIG (Mitsui), HLA General is looking to recruit 50 agents .

“They must have attitudinal qualities and we are fine with the qualification with minimum SPM. In fact, we even had a master degrees holder, an engineer who switched career to become an agent,”

Still, the preconception of door to door salesman image hammered on insurance agents still persists. “It can be tough, they need to be patience and persistence, but not many can have that sustenance,” said Low and those who do soar to greater heights.

The younger generation, though, need a lot more conviction. “They have Maggie Mee mentality ‘fast to cook, good to eat!’”, Low quipped.

He noted that the most of the younger generations come from privileged family or at least never been through hardship.

“They have never experienced perseverance, hardship not in their vocabulary. The parents don’t spend time at home, gives them gifts and other luxurious things to make up for their absence.

They give in easily to the kids’ needs. They never learn how to work for it. Self confidence is lacking,” he said.

The fun on carving out a career in the insurance industry starts at the beginning stage itself, training and education. “We don’t promise you magic, but we promise one of the best training and education,” he said.

The training was so useful to the point, that one agent left to start his own mushroom business, using a system learned from the training. 

“When you do selling, you are adding value to the customer as well.  Its something you will learn and never lose it,” he said.

In fact, the career itself, from the time one begins training, is a lifelong educational process. The industry itself is virtually provides valuable experience and exposure, something not realised by all, and as Low aptly put, “We cannot ask for you to refund what you have learned, right?”