The number of general insurance agents in Malaysia is expected to grow by 26% this year, from more than 35,000 in the industry in 2010 (Source: Asia Insurance Review 15/9/2011).
How many of those Agents who will remain active in the insurance market place? From my personal experience and observation, at least 80% of newly registered Agents will disappear from the scene in less than 2 years. Majority who remained, are likely to be less active in the market either these people have vested business elsewhere (where insurance commission is just a side income) or they are just contented with the little commission earned from the insurance agency.
Applying the 20:80% rule, the fact remained that 20% of active agents are likely to be the main contributors to the Insurers' coffers in terms of insurance premium generated.
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