Therefore a "traffic cop" is desired to direct public on the useful and accurate information, putting this relevant information to the consumer good use.
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2.3 Requirements.
Knowledge, skills and personal attributes.
In order to qualify to be a future "traffic cop", good product knowledge and good interpersonal skills are essential. Prior to the above requirements, they also need to have a minimum of three GCE "O" Levels, basic mathematical skills and a pass for the Life Agent Certificate course. This course ensures that all agents are well trained to provide professional advice and good customer services. Agents are also expected to attend seminars and courses provided by the Head Office, keep up with the ever-changing product line and customer demands. .
The academic requirements will remain very much the same regardless of the time frame in the insurance industry. This is because more emphasis is placed on the certificate course. .
An up-to-date and IT savvy agent is also desired to assist clients through the technology era. One of the main changes in the insurance industry will be the shift of emphasis in technological knowledge. With softwares like Database Management Systems2 and InsureNet, computer knowledge is a must for agents. The Government's support in technology was seen in the "IT2000" campaign. Insurance agents who are not IT savvy will be at a disadvantage, missing out on the efficiency that can be brought about and most importantly, reliability and updated information. In the future, more softwares and online services will be designed thus; computer knowledge will no doubt be essential.
Financial and economic knowledge is also required. As the society becomes more affluent and educated, consumers now, unlike the past, demand an understanding in their flow of money during investment. Moreover, the regulators also state that the consumers are to receive a complete disclosure of their investments.
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