Sun Life Hong Kong crowned Insurance Company of the Year

Sun Life Hong Kong Limited has received five accolades from the coveted Asia Trusted Life Agents & Advisers Awards in 2019 and 2020, which recognizes and salutes excellence in the insurance industry in Asia.

Since 1892, Sun Life Hong Kong has been supporting Hong Kong people to meet their needs of professional, top-quality protection and wealth management products, and retirement planning financial services. In receiving the distinguished title of Insurance Company of the Year 2020 plus multiple prestigious individual awards among its advisor team, the company reiterates its unwavering commitment to excellence and nurturing talents by continuous investment on people development.

A steadfast dedication to excellence

Under the leadership of Fabien Jeudy, Chief Executive Officer of Sun Life Hong Kong, the company has been awarded the Insurance Company of the Year 2020 honour, alongside over 40 distinguished awards at other events in 2019.

Jeudy said that Sun Life Hong Kong recognizes the demand for quality, affordable healthcare services and a carefree retirement shared by most Hong Kong people. “At Sun Life Hong Kong, our purpose is to help our clients achieve lifetime financial security and live healthier lives. We have accordingly developed client-centric products that meet the needs of present and future generations,” he said.

According to the latest long term business statistics released by the Insurance Authority, Sun Life Hong Kong achieved a year-on-year growth of 36% in the annualized first year premiums of direct new individual business for the first six months ended June 30, 2020, while the overall market recorded a 44% year-on-year decline.

When it comes to services, the company is well aware that an outstanding client experience cannot be achieved without a team of dedicated and passionate advisors. In attracting talents to sustain its purposes, Jeudy highlighted the company’s twin-pronged strategy: quality training and quality recruitment.

Committed to nurturing talents into financial elites and providing advisors with abundant opportunities to grow, the company accords a high priority to training and development. Its Most Respected Advisor (‘MRA’) Academy is available for all and instrumental in nurturing its advisors into a Most Respected Advisor, while The BrighterGen Academy, established in 2018, aims to build a young workforce that drives Sun Life Hong Kong’s susutainable development. It is a talent-oriented platform to recruit young newcomers with high potentials and helps them embark on a fast track to achieve the Million Dollar Round Table (MDRT) qualification.

“Our elevated environment, featuring a café with outdoor area for Sun Life Hong Kong advisors and staff, as well as our impressive training and working atmosphere all contribute to improving advisors’ satisfaction and attracting young talent,” Jeudy said.

Building a comprehensive agency platform

Jason Chou, Chief Agency Officer of Sun Life Hong Kong, has received the Young Executive of the Year 2020 award. A young leader with 15 years of experience in the insurance industry, Chou has led the local agency teams of the company in attaining remarkable progress across the board in 2019, despite an extremely challenging operating environment.

In building a sustainable agency force, Chou spearheaded strategic initiatives and defined clear objectives. “We aim at building a sustainable agency force that delivers quality business and drives the company’s medium-to-long-term success,” he said.

Different programs have been developed to cultivate young talents. The ‘Sun Life MDRT Incubation & Acceleration Program’ was proudly championed by Chou back in 2012, which features all-rounded support, coaching and development programs, as well as a variety of attractive and innovative incentive schemes. Under Chou’s leadership, 450 advisors have obtained 2019 MDRT requirment, representing a fairly top percentage of 20%, among which over 40% were first-timers.  

Focusing on organic agency growth, Chou strategized the recruitment initiatives, including various recruitment activities by segmentation, a university student development program to educate financial planning knowledge as well as to attract young graduates to join the BrighterGen Academy for high-flyer development.

Chou also helped uplift distribution excellence through technology. SunSmart, a digitalized platform for advisors, has not only driven higher fulfillment within the agency team, but also enhanced client satisfaction.

Chou believes being inspiring and open to others are essential qualities of a successful leader. “I am motivated to create an agile team culture supported by transparent communication,” he explained. “The team’s growth and development is what gives momentum to the company.”

Cultivating young finance professionals

Jason Chu, an Agency Director at Sun Life Hong Kong, was awarded the Rookie Insurance Agency Leader of the Year 2019. The 32-year-old’s ambition and passion for taking on challenges drove him to enter the insurance profession. Having joined Sun Life Hong Kong in 2013, Chu is now one of the fastest growing young agency leaders in the company and among the top 3 per cent of agency leaders in the agency force of the company.

Chu’s team has undergone a remarkable growth over the years. “I joined Sun Life Hong Kong as a Unit Manager and started with only a few advisors in my team. But in the short space of seven years, I have built a team of over 150 advisors and leaders which represents an extraordinary growth,” he noted. 

The exponential growth in headcount has resulted in solid business growth. In 2019, the team comprised 39 MDRTs, representing over 25 per cent of the team size, which was way above the market benchmark.

A young leader himself, Chu is steadfast in his commitment to building a young and dynamic team. “I am a walking example that being young of age shouldn’t prevent you from realizing your goals and achieving success,” he said. “There are currently many university graduates in my team. Right now, the average age of my team members is 26.”

Chu attributes his team’s success to discipline and diligence. He provides coaching and on-the-job training to  his advisors and leaders who come to office punctually to attend a variety of meetings, workshops and sales drills. They also conduct roadshows to connect with potential clients, he said.

“Treating client with honesty; being professional; supporting your team and helping others; and building a sustainable and quality business are my mottos for success,” he shared.   

Making social impacts

Susanna Chan, a Regional Director at Sun Life Hong Kong, has received the Inspirational Agent/Leader of the Year Award 2019. The seasoned leader has worked in the insurance industry for over 26 years and now manages over 70 advisors in her region. She is a “Top of the Table” qualifying member in MDRT and achieved the top case count advisor at the company in 2019.   

Chan and her team are known for their active participation in social responsibility projects for the betterment of the community. Chan has been a strong advocate for LifeCare Movement, a charity campaign organised by LUA Foundation Limited, with a mission to benefit underprivileged groups in Hong Kong by motivating clients to donate 1% of their policy sum insured to a charitable organization.

As Vice Chairman of the Movement, Chan has given over 50 sharing sessions with fellow members of the industry to promote the campaign.

“I believe my persistence in charity work and engagement with the community will not only benefit society but also enhance the image of our industry,” she said.

Furthermore, Chan is keen to inspire and lead members of her region towards success. She has, for instance, established an internal training system to provide extra support, in addition to the training programs developed by the company, to members in her region.

Chan also seeks to inspire others to achieve personal breakthroughs despite the odds. She is a frequent speaker at student career talks, generously sharing her experience and expertise with the younger generation to help them attain success.

“The award is an acknowledgement of my philanthropic work. I will continue to lead my team to make contribution to society by helping the underprivileged and those in need,” she said.

Putting clients first

Lachman B. Balani, who has been a Sun Life Hong Kong advisor for over 42 years, was awarded the Lifetime Achievement 2020. At the age of 81, Balani remains passionate about his work and enjoys serving and taking care of his clients.

“My commitment stems from my enduring belief in the value of insurance: savings and protection critical to helping individuals grow, families flourish, business thrive, and driving positive changes in our community,” he said. To him, trust is the bedrock of lifelong client relationships, and can be earned only through professionalism, resilience and care.

Balani’s adherence to high standards has led him to become a successful insurance professional. Between 1978 and 1981, he was one of the most productive agents at Sun Life Hong Kong. His outstanding performance was also recognized by the qualification as the first Senior Vice President in the Far East Division of Sun Life’s Macaulay Club in 1980.

Balani noted that he is blessed to have become the trusted partner of more than 1,500 clients. “In the 1970s and 1980s, many of my clients were the sole breadwinner of their families. The life and savings policies I recommended, thus, became the ‘safe haven’ for their wives and children,” he shared. “I feel proud to have helped my clients achieve their life goals and protection needs.”

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