Issue No. 02 - March/April 2009
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Insights on Asia: China and Greater China Region
– Eddy C. W. Wong, RFC, CLU, Regional Chair for China & Greater China
In the last quarter of 2008, the world experienced an unexpected financial tsunami, which affected the investment attitude and spending habits of the general public in Greater China. In previous years, the aggressive investment nature of the people in this region resulted in “speculation” of money for very high return on investment products. For some conservatives, money was lost through investing in high-risk securities. At the same time, major investment banks and insurance companies also reported huge losses, and required the respective government’s support to continue their businesses. These recent developments have adversely affected the public’s confidence in the insurance industry in the Greater China region. Although most people have substantial savings in the bank, they are adopting a wait-and-see approach. Even the optimists are holding on to their cash at this moment and waiting for an uptrend in the market.

Since late 2008, there have been little or no sales of investment-linked products by insurance companies in this region. Most insurance professionals find it extremely challenging to sell investment-linked products. As such, the focus has since shifted back to promoting “traditional life products” to clients during financial planning. Clients now value “Guaranteed Return” products in this volatile market because most of them have lost confidence. As a financial professional, I strongly believe that this is our time to demonstrate our ability to understand our clients’ needs and help them build up the most effective safety net. If we can build a secured platform for them now, we stand a greater opportunity to work with our clients more when the economy rebounds later.

In spite of all of this, the potential member growth for MDRT in China and Greater China region remains tremendous. MDRT recognises the need to better engage with the members in the region. And I am delighted that one of the initiatives that MDRT is actively looking into is the translation of information and materials from MDRT headquarters so that our members here can maximise the value of their membership.
   The MDRT Annual Meeting is a wonderful event, and I believe new qualifiers who have attended the meeting and experienced the sharing of ideas and bonding with other members will increase their sense of belonging to MDRT.

Our MCC members, in working closely with the MDRT Asia Pacific Office, have lined up a series of activities and action steps for 2009. The first MDRT Day in Beijing, China, will be held in 24–25 July, and we are expecting a good turnout. MDRT’s Mentoring programme is being promoted extensively in all zones in Greater China. We are also looking into increasing the awareness of the MDRT brand to the general public and industry. If the general public recognises and understands what MDRT represents, they would be more inclined to go to financial advisers who are MDRT qualifiers. This would create an impetus for more financial professionals to work towards MDRT membership qualification.

As a Regional Chair, my goal is to continue strengthening the MCC network in Hong Kong, Macau, Taiwan and China. I believe one of the key ingredients in cementing MDRT’s success and growth in this region is the commitment and dedication of our MCC members. With their support, I hope we can achieve a membership growth of 15% each year in the coming 5 years for this region. We can then have a stronger representation of Chinese-speaking members in MDRT. I look forward to seeing this become a reality in the near future.

Eddy C. W. Wong, RFC, CLU
Regional Chair for China & Greater China
MDRT Day is coming to Beijing, China!
MDRT Day is coming to Beijing, China, on 24–25 July 2009. This inaugural event will be held at the Olympic Sports Centre Gymnasium.

Attend the event and you can look forward to meeting the Guest-of-Honour, Walton W. Rogers, CLU, ChFC, 2009 MDRT President, and listen to insightful presentations by Eddy C. W. Wong, RFC, CLU, 2009 MDRT Regional Zone Chair, Wu Xue Jun, 2009 MDRT China Zone Chair and many more international and native speakers! Learn the best sales ideas and motivational concepts from these MDRT veterans to help you increase your production.

You will also have a chance to network with fellow MDRT members and industry thought leaders who will share their experience on how to succeed in an insurance career.

MDRT DAY Beijing, China, is opened to both MDRT members and non-members. All MDRT members attending the event will be invited to a Members-only Dinner with the MDRT President.

Get more information on the conference programme and registration details here.
Get Ready for 2009 MDRT Annual Meeting

The highly anticipated 2009 MDRT Annual Meeting will be held on 7–11 June in the 13th largest city of the United States, Indianapolis, Indiana – home to one of the greatest spectacle in Motor Speed Racing, the Indianapolis 500.

As the premier forum for the exchange of ideas, get ready to be inspired by more than 80 well-known speakers at the 2009 MDRT Annual Meeting. The event will provide you with the tools you need to provide peace of mind to your clients, and what you learn and share at the meeting will improve your career and personal life, and also the lives of your clients.

The 2009 MDRT Annual Meeting is open to approved 2009 MDRT members only and English is the official language of the meeting. However, MDRT will provide simultaneous interpretation of the Main Platform presentations and selected Focus Sessions for a maximum of 12 languages when at least 25 registrants request for the same language.

Online registration is now open. Take advantage of the early bird rate and register by 13 April.

For travel visa application, please visit here.

Read more about 2009 MDRT Annual Meeting here.

While in Indianapolis…
One of the most successful destinations for conventions, and frequently ranked as one of the best places in the country to live, work or visit, you can experience the world’s largest sports racing facility – the Indianapolis Motor Speedway.  Indianapolis is also home to the world’s largest children’s museum, and also has 25 performing art centres, 14 museums and 21 art galleries. Within walking distance from the Indiana Convention Centre, there are also 200 restaurants, a four-storey shopping mall, more than 50 major attractions, and a vibrant nightlife.
Save the Date – 2010 MDRT Experience: The Magic is coming to Asia!
MDRT is bringing the magic of its Annual Meeting to Asia! Life insurance and financial services professionals from around the world are invited to gather in Seoul, South Korea, on 11–13 March 2010, to experience why thousands of the industry’s top producers gather each year at MDRT’s Annual Meeting for high-energy, motivational, inspirational and educational sessions.

Bringing some of the most popular speakers from its past Annual Meetings, MDRT members and non-members will be treated to over two full days of special programs and events that have made the MDRT Annual Meeting world-renowned.

Presentation topics include:
     
  • Sales ideas
  • Motivation
  • Professional development
  • Insurance in action
  • Inspiration
  • Overcoming adversity
  • Whole Person
     
Do register early for greater cost savings. Visit our website today.

Registration Fees and Deadline
630,000 KRW 1 May 2009 – 31 December 2009
770,000 KRW
1 January 2010 – 28 February 2010
910,000 KRW
1–12 March 2010 (on-site rate; forms will be processed onsite)
Country News Bytes
Indonesia
• Over 200 agents from AIG Life and Equity Life attended a MDRT Mentor Sharing session on 7 January. Speakers Solomon Hicks (21-year member, USA) and Jeannette Sulindro Ma, ChFC, CFP, 2009 MDRT Regional Chair, shared about the benefits of becoming an MDRT member. Other thought-provoking topics discussed included the professional standards of MDRT as well as the requirements for MDRT membership qualification.

• 67 leaders and agents from all over Indonesia gathered in Jakarta, Indonesia, on 4–6 February for a training session that took place at Equity Financial Solution. The session, conducted by Jeannette Sulindro Ma, ChFC, CFP was aimed at equipping participants with the skills, knowledge and attitude to succeed in the insurance profession.  She also gave an inspiring presentation on “The Road to MDRT”.
• High profile MDRT speakers from China, Indonesia, Malaysia and Thailand presented at the Prudential Agency Convention 2009 held in Jakarta, Indonesia, on 10–12 February. This 3-day event was attended by 9000 agents. All MDRT speakers articulated on the professional standards of MDRT plus the prerequisite for MDRT membership qualification.
• Close to 200 agents gathered at AIG Headquarters, Lippo Karawaci ,Tangerang (90 minutes from Jakarta) on 19 February. Jeannette Sulindro Ma, ChFC, CFP introduced MDRT and its website and bi-monthly regional e-newsletter – Asia Connect. She also shared about MDRT’s mentoring programme to the congregation.
 
Japan
  • 20 MDRT members congregated at the Chiba Branch of Sony Life on 9 January for the 3rd “Skills Improvement Seminar” for Chiba/Ibaraki region in Japan. The objective of the seminar was to help agents improve on their sales techniques.  Apart from the networking opportunities, the small group size also enabled participants to better discuss challenges faced in their work and how best to overcome them.

  • The Metro Region 7th Open Seminar was held at the South Annex of Tokyo City Hall on 15 January 2009. Close to 200 MDRT members and non-members attended the event. Guest speaker, Akira Miyagawa, a Certified Trainer of U.S. NLP Association, shared about psychology in sales environment, “What body language and line of vision tells you?”, and Yoshihiro Kikkawa who has hearing disability, but is a pro cello player shared about his personal life experiences.

Taiwan
  •
2009 MDRT Taiwan Zone Chair, Lancia Liu, along with seventeen liaison representatives from eleven major insurance companies gathered on 10 February for a “spring season” meeting. The purpose of the event was to touch base with the insurance companies, and also to provide a report on the activities that took place in 2008, and exciting plans in 2009. Lancia reported on the 2008 Annual Meeting held in Toronto as well as the 2008 MDRT Day Taiwan.  She also took the opportunity to announce that the 2009 MDRT Day Taiwan will take place on 1 October, and the 2010 MDRT Experience will be held in Seoul, Korea on 11–13 March.
No Effort Too Small to Spare, nor Stake Too Big to Lose
The following article is a summary of an editorial from “Perfection to Dreams”. It was published in January 2007 by Sing Tao Publishing, Hong Kong. The editorial featured Patric Leung, CFP, FChFP, 2009 MDRT Hong Kong & Macau Zone Chair. It highlighted Patric’s background and the approach he took to overcome challenges and succeed in his career. This is an inspiring case study for new qualifiers.

Patric Leung is a Senior Unit Manager of The Prudential Assurance Co., Ltd, and amid his many professional qualifications, he is also an MDRT Qualifying and Life Member. Patric also serves as Hong Kong Zone Chair of the MDRT Membership Communications Committee

Before entering the insurance industry, Patric held several jobs at different companies. However, those jobs did not turn out to be what Patric had envisioned for his future. He encountered many struggles before finally embarking on his career as an insurance advisor – he has since been working in the insurance industry for twelve years.

Looking back, Patric vividly remembers a case of cold calling. He chanced upon an interview article one day about a small business owner and unexpectedly, an idea occurred to him – perhaps he could sell a policy to this successful man? He was turned down numerous times on the phone before finally securing an appointment with the business owner. Out of admiration for his spirit and determination, the business owner purchased an insurance policy from Patric during their first meeting. Because of Patric’s dedication and professionalism, the business owner remains a key account till today.

Patric’s persistence, courage and passion guaranteed him an outstanding work performance and won him a lot of honours, such as International Dragon Award – Outstanding Agent Award, Practice Management Development Award, and International Quality Service Award. To Patric, each award is recognition of his effort and talent.

While practising as an insurance advisor, not only is he able to follow his dream, but it also develops his approach in life. He understands that no effort is too small to spare and no stake is too big to lose. It is no wonder people around him are drawn to him due to his confidence, optimism and integrity. His thoughtfulness for the people around him and his ambition in the insurance career is a definite sign of a brighter and more exciting future ahead.
Continuous Client Contact
My firm focuses on keeping our name in front of our prospects and clients.

The first way we do this is by meeting with clients at least once per year and anytime at their request. Also, my staff and I proactively contact our clients by phone in the time between our face-to-face meetings.

We also stay plugged-in by attending regular educational seminars and organising client appreciation events.

Advisors at our firm write a quarterly educational newsletter as another way to stay connected. Some advisors insert a one page sales concept to elicit client's interest. 		  For more direct communication, I write a personal email each month about the market and the economic outlook to approximately 400 clients. This effort always generates a response from clients and introduces new opportunities.

Lastly, we use an independent firm to conduct survey with our clients so we can monitor how we are doing and find out how we can improve.

Ken M. Hawley, CLU, CFP
35-year Top of the Table member from Vancouver, British Columbia, Canada
Buy on Dips
Who says an agent cannot sell funds when the market sentiment is low and when the market is volatile? Here's my sales pitch to my prospects with liquidity:

"Based on the basic concept of "buy low, sell high," in my experience, those of whom are cash-free should capitalise on another concept, "buy on dips", and those who are cash strapped, will sit and watch others get rich. I think you are the former, and therefore would you like to have a chat next week to work on some smart strategies?"

Michael Wan Yen Pon
8-year MDRT member from Causeway Bay, Hong Kong
What’s Your Time Really Worth?
Answer this one honestly: do you know exactly what your time was worth during the last 12 months? Have you ever divided the number of days you worked in the year (for most people it’s about 200, allowing for weekends, vacations, etc.) by your income?

Once you know the daily rate, divide that again by the average number of hours you work each day (eight?) and you will arrive at a number that is the amount you earned per hour.		   Now ask yourself this question every time you undertake an activity: is what I am about to do going to make me more or less than what my time is worth? If the answer is less, then you should seriously question why you are agreeing to do it. The only exception to this rule is the time you spend with your family because that’s priceless!

Alessandro M. Forte, CertPFS
11-year Top of the Table member and 2008-09 MCC UK Country Chair
Sign up with the MDRT Speakers Bureau
MDRT Asia Pacific Office is eagerly looking for speakers from Asia, who can present in English and/or a native language, to be part of the MDRT Speakers Bureau.  The Speakers Bureau maintains a listing of experienced MDRT-member speakers for corporate events, conferences as well as the MDRT Annual Meeting and Experience.

If you are an experienced MDRT member, who can provide audiences with superior sales ideas, transferable sales concepts and outstanding motivation, email cchu@mdrt.org and increase your visibility as an MDRT speaker.
Be a Volunteer at the 2009 MDRT Annual Meeting
The Program General Arrangements (PGA) team would like your help to make the 2009 MDRT Annual Meeting in Indianapolis, Indiana, an enjoyable experience for the expected 6,000 member attendees.

Do not miss this interactive opportunity to network with your fellow MDRT members, and give back to the organisation. In addition, you will be given opportunities to gain knowledge that can develop into leadership skills.

Find out more about the various areas of opportunities you can contribute to and Volunteer NOW!
Call for Contribution
Do you have an interesting sales idea or a proven strategy to share with fellow MDRT members? We are keen to hear from you if your ideas are based on the following themes:

  • How to Approach Customers
  • How to Recruit Staff
  • How to Sell Multiple Products
  We are also interested in ideas relating to Whole Person Concept, viewpoint on challenges facing the financial services industry, and also case studies that can inspire other members to overcome challenges to win over a client or sell a particular product.

You can send your article or content outline to MDRT Asia Pacific at asiaconnect@mdrt.org.
From 1 March, members who wish to download duplicate copies of their membership approval letter and certificate can visit http://www.mdrt.org/membership/index.asp, and click on "Obtain a copy of Your Membership Certificate".

Downloaded forms will only reflect the information originally noted on the approval documents. If a name change or a change in the spelling of the name was submitted after the approval date, the change will not be reflected in the online certificate. All changes that pertain to name changes need to be requested by the member only. If a revised certificate is required, please submit the request via email to membership@mdrt.org.

Members can also check the status of their membership application after it is submitted, by visiting http://ihs.mdrt.org/checkApp.cfm.
MDRT Asia Pacific Office

Tel: +65 6496 5505
Fax: +65 6336 6449
Email: asiapacific@mdrt.org
Web: www.mdrt.org