bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

helpersCheckIsPostiesArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

moreOnThisArticles

urlAlias

commentCount

sponsorType

authorLocations

authors

paywallTypes

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

socialHeadline

headline

flag

firstTopic

glossary

flattenTypeIds

publishedDate

additionalInfoBoxes

images

image

relatedLinks

relatedNewsletters

__typename

createdDate

sponsor

factSheets

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

copyrighted

customTimezone

liveContents

SCMP Reporter

CANADIAN Eastern Life Assurance (CEF Life) has followed a set of policy and strategy guidelines in its first year.

The insurer's objective is to provide 'a professional, caring service using experienced personnel and the efficient use of technology'.

CEF Life says that it meets the commitment to clients by giving its staff and field agents continuous and ongoing training and education opportunities.

All staff and agents are issued with simple business practice guidelines and booklets outlining company policy and business goals.

In addition, CEF Life develops simple systems to handle the needs of the day and to cater for future requirements.

Employees are also encouraged to contribute their ideas.

In terms of providing back-up systems, CEF Life is in the process of using its own computer experts to design the software that can handle the work in its planned entry into the group insurance market in January.

Peter Lai, CEF Life's head of information technology, said group software products suitable for insurers were not available in Hong Kong.

'There are some products from overseas which no doubt can be modified to suit the needs of insurers offering group schemes in Hong Kong, but we have decided to use our own people to develop this software,' he said.

'Our people have the advantage in that they have a wealth of knowledge about group insurance and the system that is needed.' The software has to be capable of dealing with the huge database of members covered by group schemes.

 It also has to provide the means to maintain accurate records of all premium income, claims and other administrative functions.

'We are now in the process of designing the product we need,' Mr Lai said.

The software development will take two years to complete but CEF Life has assigned a team of five to the task. This should reduce the time needed.

The company's life operation department has three sectors: underwriting and issue; claims; and policy owners' service department.

The underwriting and issue department evaluates the risk of all new applications.

The department establishes the criteria for evaluating applications and assesses and classifies the degree of risk.

Based on the degree of risk, the department will then decide whether to accept, decline or modify an application.

The policyholders' service department looks after the needs of clients after a policy has been issued.

The administrative function of the department is to handle and process changes to policies which may be requested by the policyholder, to process contractual promises on policy loans, dividends and non-forfeiture options.

CEF Life has client service officers whose function is to provide complete, prompt, accurate, courteous and confidential service to clients.

Part of their function is to deal with requests for additional information and policy cover and help interpret policy language for clients.

The claims department is responsible for honouring the promises made in insurance policies. This department must review all claims presented by policyholders or by their beneficiaries, verify the validity of claims and make prompt payment of all benefits to the correct party.

CEF Life says that, with the rapid transformation of the insurance industry in Hong Kong during the past decade, it is vital that an insurance company meets market needs by offering clients a top-flight sales force.

The traditional reluctance among Chinese to take out insurance cover has steadily declined and statistics show that the insurance industry has grown between 20 and 30 per cent in the early 1990s.

CEF Life stresses self-discipline, ambition, commitment and a pleasant and outgoing personality in recruiting agents.



Easy systems help meet aims