Seven in 10 see rise in critical illness insurance sales.
Majority of insurance advisors in Asia are optimistic about the economy and sales growth despite the pandemic, according to a Sun Life survey.
More than half (56%) expressed optimism regarding the economy whilst three-fourths (70%) are hopeful about the financial outlook of the life sector and their abilities to grow sales this year.
Almost eight out of 10 (79%) see sales growth in medical products and 77% forecast rise in critical illness insurance sales.
Five in 10 (57%) believe that demand for insurance and protection will go up.
Digital sales activity is related to stronger performance during the pandemic, with 59% recognising the need to use both digital and non-digital tools for communication, and that social media is needed for self-promotion (53%) and client prospects (52%).
The insurer around 1,600 insurance agents and advisors working for a range of insurance carriers in Hong Kong, Philippines,Malaysia, Indonesia and Vietnam, between August and September 2020.
The findings came as Sun Life announced a partnership with Google to offer its advisors across Asia Google Workspace, the industry’s cloud-native communication and collaboration solution, to meet evolving needs of its advisor force. The initiative is one of a range of investments Sun Life is making to power its advisor force with digital, data and analytics as part of a digital enterprise strategy.
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