Malaysian Youth Dislike Insurance Career

Youths and fresh graduates seem to have a negative perception of the insurance industry and tend to prematurely dismiss it as a career path.

Malaysian Insurance Institute (MII) chief executive Datuk Syed Moheeb Syed Kamarulzaman said youths often have the stereotypical image of a door-to-door insurance salesman when they think of the industry.

"Insurance is not a preferred career path, not many undergraduates understand or appreciate the career opportunities in the insurance industry.

"Insurance is a multi-discipline industry, it's not just for accountancy, economics, or business students. Students who studied math and science, engineering, and even aeronautical sciences join too," Syed Moheeb said.

For example, he said, if a company needs to insure an engineering project then the insurance agent in charge would need knowledge in civil engineering to do his job effectively.

Syed Moheeb said this also applies to liability laws, architecture design and construction, as insurance agents need to familiarise themselves in many fields.

"If more graduates from various fields want to join insurance, then the industry, too, will have potential candidates with better and more varied qualifications to choose from," Syed Moheeb said.

He said this can be addressed by introducing the insurance industry to youths early to eliminate misconceptions about the industry and they may consider it a viable career path that contributes to society while providing ample financial rewards.

Syed Moheeb said the MII and other insurance associations in Malaysia had tried to engage with schools before but had limited success, and they are currently targeting undergraduates.