Wang Chee Liang
VKA Wealth Planners Sdn Bhd
General Insurance
Tel: +012-2695479
Wang ventured into the General Insurance (GI) business 3 years ago. Sponsored by Winson Tung into BNI Sierra, Wang has been recognised by the chapter as a valued contributing member who has helped the chapter and fellow members develop business opportunities for each other.
Joining VKA Weath Planners Sdn Bhd in May 2019 helped increase the range of GI products and that, with the support of chapter members – helped to grow his business to a new milestone!
What differentiates you from your competition?
Professionalism and responsibility – We provide professional advice to my customers and help them to choose the proper insurance coverage that suits their needs. Our goal is to take a comprehensive view of a customer’s situation and then help our customer work toward those goals. We essentially try to fit our customer into a product rather than finding a product that fits my customer.
What do you think is the value you and your business provide?
Provide undivided loyalty to our customers and provide complete transparency and disclosure as to the coverage recommended.
What do you think is an important insight that you’d like to share with us regarding the general industry?
With the emergence of providing insurance services via online platforms, the future for professionals like us will be very challenging. However, these online platforms, especially for the motor insurance segment are only able to sell motor insurance based on normal coverage. It will still require the professional advice of a financial advisor like me to provide additional advice to customers as to what coverage will suit their individual needs.
What are the challenges and where are the opportunities?
Financial advisors today have a wide range of challenges facing them. They must wear many hats, including those of asset manager, financial planner, psychologist and marketer in order to succeed. Some of the biggest challenges are:-
Managing customer’s expectation
Customers expect financial advisors to be different from normal market agents. We need to show our customers how we can add value to our services eg. sourcing the appropriate insurance policies to meet the customers needs and not to sell them an insurance policy which the agent feels will earn them higher commissions.
Staying in touch
Financial advisors must stay in close contact with their customers but many agents fail to do so when things are doing well. A constant flow of communication is necessary in order to maintain a solid relationship with our customers., regardless of what the markets are doing. In the current Covid-19 situation where F2F contacts are not advisable, we can make use of social media such as Facebook and Instagram to market our services and keeping in touch with our customers.
Emotional Engagement
Many customer’s decisions are based on emotion. We need to be able to relate to our clients on an emotional level in order to maintain a working relationship. In the current Covid-19 situation, many customers are emotionally affected eg. when their business is on the downturn, when their employment is affected.
We should be able to share their concerns and recommend appropriate insurance products to suit their financial needs and not just to throw expensive products at them.
Wang Chee Liang is attached with VKA Wealth Planners, Malaysia’s top choice Financial Planning firm. He specializes in General Insurance especially in Fire, Burglary and Public Liability Insurance and he can provide all the General Insurance companies products & services in Malaysia. #MotorInsurance #FireInsurance