Another extraordinary year has passed for MII and a transformative one at that. I am proud to present The Malaysian Insurance Institute Annual Report 2021, in which we demonstrate how we continue to evolve to build on our resiliency. MII’s strategic actions driven by the current leadership team has enabled the Institute to continue supporting industry customers and stakeholders during tumultuous times. We strongly believe that our ability to adapt to the new normal is a necessity to future proof our services for the Malaysian insurance industry and beyond.
AN EXTRAORDINARY YEAR
While the disruption caused by the COVID-19 pandemic has brought many challenges, it has also taught us some very important lessons, such as the need for agility and resilience, and the need to stay connected and engaged. As an Institute we continue to learn and impart our knowledge to others, to emerge from the challenges stronger, more focussed, and better positioned than ever.
Going digital was the only logical path to take, not only for MII but for many other businesses too. Although the progress that we have made in our transformation strategies moved faster than planned, we forged ahead in 2021 with our vision and mission engrained in every decision that we made - to be a regional leader supporting the development and modernization of the insurance industry.
IN BUILDING TRUST
To help build trust, MII has shown tremendous efforts in catering to the needs of the industry. Whether through industry engagements and interviews, to forums and professional communities, as a trusted professional body, MII continuously looks for ways to broaden the assurance we provide to all stakeholders.
In a year when economic conditions were tough, I was pleased to witness how MII led with values, taking a people-first approach and in particular a customer-first approach. A significant investment was made in digitalising front-end processes and upskilling our talents, which are crucial to MII’s long-term success. These investments have not only empowered the staff to continue to deliver quality services seamlessly while working remotely but also enabled us to further expand our network and connections across borders. An increase in local and international partnerships and collaborations in the past year is also a testament to the continued building of trust.
FUTURE PROOFING THE INDUSTRY
As we work hard to expand our offerings to more than just insurance knowledge, MII has taken a bold yet necessary step to diversify current offerings to include future-ready content. Understanding what the market needs through research and analysis of trends, MII’s current offerings now incorporate must-have knowledge about technology, innovation and digitalization of insurance products, services, and business operations. Amongst other new topics included are effective marketing through storytelling, data literacy, and talent development.
Our aim is to contribute holistically in the drive towards future proofing industry
professionals. Now is the time for us to acknowledge that relying solely on technical knowhow
is no longer sufficient nor relevant in our rapidly changing environment.
Overall, I am proud of the progress we have made with the relentless support of our Board of
Directors, industry associations, affiliates, partners, and over 26,000 members. I wish to
thank everyone for supporting MII in its journey to become the institute of choice for
insurance knowledge. I am confident we will be better positioned to help the industry face up
to the challenges of the future and in so doing, elevate the role of insurance for all
Malaysians, while continuing to make a difference in our industry.
Antony Lee
Chairman
The Malaysian Insurance Institute
