Manulife has launched the Manulife Business Academy (MBA), a regional training initiative for its over 115,000 insurance advisors across Asia.
MBA is a unified learning and development platform that equips advisors with additional skills, especially those needed to operate in a digital environment, Manulife said in a statement.
The facility provides recruits with the training and support needed to become a better insurance advisor through online learning and end-to-end career development journeys, rather than relying on one-off classroom training sessions, the insurer added.
Aside from training financial advisors, MBA also conducts practical workshops for both advisors and bancassurance partners, in a move to strengthen insurer-bank relationships in the region. Manulife has 10 exclusive bank partners in Asia, providing access to over 30 million customers.
“The establishment of Manulife Business Academy demonstrates our continuing commitment to digitise, grow and develop our agency force, which is a backbone of our Asia franchise,” said Anil Wadhwani, president and CEO of Manulife Asia. “Our highly professional agents, advisors and world-class bank partners have been key in engaging our customers and offering them the right insurance solutions to make their every day better.”
In 2020, Manulife Asia grew its agency force by a record-high of 21%, with the number of agents exceeding 115,000. In 2019, a total of 3,600 Manulife agents were members of the Million Dollar Round Table, with the number expected to grow further in 2021.
“Digitising and growing our agency force, including providing the right training and technology for our advisors ultimately helps serve our customers better,” said Vibha Coburn, CEO of Manulife Insurance Bhd and former chief distribution officer of Manulife Asia. “From experience, we know that more advisors on the ground benefits customers, as they provide more in-depth conversations and professional advice to address our customers’ health, protection and retirement needs.”