Although Hong Kong and Macau are maturing insurance markets, there are still many opportunities for international agencies. To make the most of this opportunity, AIA Hong Kong and Macau have made the bold move of setting up the AIA Premier Academy, which was launched on October 11.
AIA, which employs about 8,000 agents, will spend HK$100 million a year to train the best and brightest young applicants in a two-year programme, and take them to the Million Dollar Round Table (MDRT) - an international association of insurance professionals.
'Membership in the MDRT provides a clear target. It not only means high production, but the highest standards of professionalism,' says Jacky Chan, chief executive of AIA Hong Kong and Macau. 'We have the experience to develop a roadmap to MDRT because we have a track record.'
Over 800 of AIA's agents are members of MDRT - the highest number of any agency in Hong Kong, and the sixth highest in the world.
There are no set numbers for recruitment to the academy, but they are starting out with 30 to 40 trainees per batch and will take in one group every three weeks.
'We are targeting quality people - young, vibrant Gen-Y university graduates. We require a minimum of a year's work experience,' Chan says, adding that AIA has developed a tough interview process, including an aptitude test, interviews with the agency manager and district director and, finally, with management leaders.
Applicants should be bold, entrepreneurial and service-oriented. Most important, are interpersonal skills.