Hello! My name is Solomon and some call me the insurance policeman. This is because I catch insurance policies that are overpriced. I am an authorised insurance representative and co-leader at RCA Wealth. Our guiding principle is to be a financial lighthouse to guide others arrive at their financial goals safely.
How did you get involve in the industry and in Malaysia
My journey into the financial service sector started when I was a sales executive for an engineering supplies company when I bought my first insurance policy. I made 2 important distinctions that time. Firstly, the insurance premiums my friends bought were high while mine was low. Secondly, although my insurance premiums were low, I received letters almost yearly requesting my premium be increased for it to be sustainable. With my engineering background, I discovered that insurance is not a fixed solution and subject to variables and they interest me enough to help others find the optimum point where the premium is sufficient but not excessive.
What made you decide to go do this business
There are a lot of people feel insurance is a scam and another lot feel it is expensive. I want to help them understand that insurance is an important, effective tool for all layers of community and need not to be expensive at all. That is why I decided to join the insurance industry.
What differentiates you from your competition
I am not shy to admit if insurance is not the solution my prospects are after, and I ensure they know what their options are before they decide. After all, insurance is one of the options for a Plan B or a backup plan in case something unwanted happen.
Value you and your business provide
Most people who bought insurance policies especially professionals like lawyers and accountants, are not aware they may be paying too much premiums for their insurance. There are few common mismatches of solutions for many
people. My role is to bring those up for scrutiny with my client to help them align their objectives so that they don’t pay for things they do not need. My best case was helping an accountant reduce annual premiums from RM18,000 to RM5,000 while keeping all the benefits intact.
What is your insight for the industry or marketplace
In this digital age, information is readily available at the fingertips. Insurance, like many other subjects are becoming more transparent and experiences are shared. Unjustly high premium insurance policies will be more noticeable. Insurance policies will be more openly discussed and a healthier relationship with insurance agents will be paramount to ensure every Malaysian is insured properly.
What kind of clients or contacts would you like to be connected to or in touch with
My satisfaction comes from successfully helping people approach the subject of insurance in a healthier way and ultimately save money from overpaying. I would like to be connected to working individuals in Malaysia who suspects they are paying too much insurance, especially professionals like lawyers and accountants.
During the recent pandemic, Solomon was worried about people cancelling insurances to cut expenses. He wrote a simple to read ebook to help people understand why some insurance policies cost more than it should. You can download that ebook here https://bit.ly/SavOnIns
RCA WEALTH
Address : A-7-12A, Atria SOFO Suites, Jalan SS22/23 Damansara Jaya, Petaling Jaya, Selangor, 47400 MY
Contact : 016-626 5759
Email : solomon.rca@gmail.com