Investing in skills upgrading key to success, leadership

MANILA, Philippines -  Sun Life Financial is not content being the leader in the life insurance industry, a fete it accomplished because of its hardworking and dedicated agents now numbering 3,000 and growing.

It is investing more in upgrading the skills of its sales force, which the company calls as ‘financial advisors’ rather than agents, by tying up with the Asian Institute of Management for a customized course in financial planning. This course was specifically designed by AIM to give Sun Life advisors advanced knowledge and skills that can help them assist their clients in creating a wealth and protection portfolio.

The FPC taught the trainees about derivatives, swaps, financial forecasting and other tools that are way more advanced than what is normally being taught in training programs offered by the industry. 

When asked about the risks of spending a large amount of money for a first class training for its advisors, considering that there is stiff competition out there where companies resort to pirating good agents, SLFP president & CEO Rizalina Mantaring said she is confident that their advisors will stay with Sun Life.     

“Our advisors will not drop out or leave but would opt to stay their entire life with us since they know we care for their future careers by giving them the competitive edge in the industry through such training programs.”

During the presentation to the media of the first batch of 27 advisors and six main office executives who undertook the seven-month intensive FPC, some graduates told The Star they see themselves staying with the company for their entire lives. “In fact I have been with Sun Life for the past two decades and with this new skill, I will continue staying in this company,” said one participant. The successful graduates now carry the designation ‘Sun Life-AIM Certified Financial Planners.’

Sun Life Chief Operating Officer Naresh Krishnan said the FPC is a major step to educate the advisors to be the best in their world in carrying out their duties appropriately. “No other insurance company offers this kind of program,” Krishnan proudly reports.

Just to show how proud Sun Life was about its first batch of FPC graduates, it presented them again before a jampacked hall (with an estimated 1,000 advisors and their spouses) at Shangrila Makati where best selling advisors were awarded during the company’s traditional “President’s Month Awards Night.”

Sun Life Financial ended 2010 on a superb note breaking records in sales.

“We not only broke records in sales, with our highest quarter, our highest month, and for mutual funds, our highest AUM ever, we made significant progress in all our initiatives. We further elevated our agency force with the first batch of AIM graduates. We hit various milestones in our Agency Fundamentals program. We made great strides with our provincial expansion.... The customer focus and operational efficiency for which Sun Life is famous became even better. In other words, a great year,” Mantaring added.

Additionally, Sun Life was recognized with numerous marketing awards for its “It’s Time” campaign that featured several endorsers geared for different markets in 2010.

Citing motivational speaker Cassandra Lee, Mantaring said “with each level in which you set the bar higher, you will experience stretching yourself in new ways that can prove beneficial to you and your ultimate success. With the major changes that will drastically affect our industry in the next five years, stretching ourselves in new ways will not be an option, it will be a necessity.”

She added that the Bangko Sentral’s new requirement raising the capital of insurers from P100 million to P125 million, “which is not a problem for Sun Life,” will see the company competing with the big insurers from Singapore, Malaysia, and Thailand by 2015.

“Keeping leadership will require us to demand excellence in everything we do. For Sun Life, the habit of excellence has been the hallmark of 116 years of providing financial security to Filipino families. I believe this habit of excellence is in every one of you. Practice it relentlessly,” Mantaring told her audience.

She concluded: “We cannot afford to sit on our laurels. Savor the joy of what you have achieved, celebrate then look forward to the next one. Find opportunities in every change there is. Take advantage of all the programs and opportunities the sales team is offering.”