Allianz Life sees number of new agents grow 51.9% in  2023

Its market share expanded to 12.1% during the same year.

Allianz Insurance Malaysia Berhad (Allianz Life) recorded a 51.9% recruitment growth in 2023, the insurer said in a press release.

Newly recruited agents rose to 2,152 in 2023 from just 1,417 recruited on 31 December 2022. With this, Allianz Life now has 5,971 in total agents.

Its market share also expanded from 10.9% on 30 September 2022 to 12.1% on 30 September 2023.

Chief sales officer Raymond Cheah said that this is the result of Allianz Life providing continuous support to its agents, from improved tools to effective training, better initiatives, competitive products, and the right platform.

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“Recruitment is not a one-man show, everyone needs to come together to make it a success,” Cheah said.

“We work and communicate closely with our agents whenever they face any challenges in their recruitment efforts, and this helps the team make the right decisions. For some recruitment initiatives, we also provide our agents with financial assistance for a period of time when they are new to the business,” he added.