Ahead of AFTA, the insurance industry continues to clean up

Life Insurance Association of Southeast Asian countries continue to reform in the face of the Asean Free Trade Area (AFTA), which is in sight. Because, with the AFTA, the competition becomes increasingly severe.
There are two challenges in welcoming the AFTA. First, the agreement implementing the Asean Free Trade Area which would be enacted in 2015. Meanwhile, the second challenge is a matter of cross border agent.

So far, regulation has been very supportive of the growth of the life insurance industry. Because, in stages, the industry is encouraged as a dynamic industry, but directed at a healthy level of capital. And it turns out the insurance industry to respond to what is set by the regulator, so that the future expected better.

Over the last six years, the association continues to improve the quality of agents, especially through the standardization of agent, with a liabilities certified. However, the next process is how to make the agent as a reliable financial planner.

In the industrial country, insurance agents not only sell insurance products, but has become a financial planner for all financial products, as well as a financial consultant, both for investment and tax. There are at least five areas that can be served by an insurance agent through a reliable financial planner position.

In ASEAN countries, it has not realized. Now that's an important issue that continues to strive to achieve a balanced position. In order, the agent is ready to face the AFTA.