About Agent Spotlight

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Agent Spotlight is a special column where we feature Malaysian insurance agents who have provided exceptional service to their customers. We share their background stories and ask for advice on how Malaysians can protect themselves better against accidents and illness.

This month we interviewed Fadzil Razab from Kuala Lumpur. He shares with us his story, what made him decide to become a insurance agent and what Malaysians should watch out in their insurance policies.

Name: Fadzil Razab
Location: Kuala Lumpur


iBanding: Thank you for joining us on the Agent Spotlight. Tell us a little bit about you. What is your educational background and what did you do before joining the insurance industry?

Fadzil: I graduated from UNIMAS (University Malaysia Sarawak), Kuching, Sarawak. I have a Degree in Human Resource and Development.

Before insurance, I was working as a Medical Social Worker at UMMC (University Malaya Medical Centre), where my wife is still working now. I’ve worked with UMMC for about 7 years. My role there was to assist those patients who were referred by a doctor, for those who didn’t have enough money to pursue their treatment and also their surgery. For example, a cancer patient who is in need of these expensive medical care, I would handle their financial aid fund.

For Malaysians, I used to handle funds like Tabung Kebajikan and Tabung Bantuan. I was evaluating the patients who are qualified to get the assistance. From then on, I was wondering why Malaysians, especially the Malays, they can afford to buy insurance but they don’t prioritize to buy an insurance. It is not an issue of affordability; it is the issue of priority. Since then, I realized I needed to do something to help people.


iBanding: How long have you been in the insurance industry?

Fadzil: This is my fifth year.


iBanding: You said that Malaysians can afford to buy insurance. If they can afford insurance, then why don’t they do?

Fadzil: It is the issue of priority. For example, for Malaysians, when they receive their pay or salary every month, what is their first priority? They would pay number 1 their house loan, number 2 their car, number 3 spend it on food, number 4 entertainment and number 5,6,7, until the salary is 0. Then they start using their credit card and the salary is minus. Insurance is number 20. The issue is, why don’t I buy insurance to protect number 1-7. It is priority versus affordability. Malaysians can afford insurance, but they like to overspend and start using their credit card.

When I was working at UMMC, it was not like we are not giving them money for medications, but we have to evaluate them thoroughly before providing them assistance. When I was reviewing the financial situation of all those people. I realized people can afford insurance. The issue is they just overspend. They take salary every month and don’t save. They earn RM 3,000 and spend RM 4,000. If something happens to them, they are broke and ask for assistance. That is why I quit from UMMC and joined the insurance.


iBanding: Was there a key reason that made you decide to switch careers?

Fadzil: There are two reasons. One is the experience at UMMC. The other reason why I joined insurance is a personal event. First, I never believed in insurance.  I was a bit skeptical on insurance. Because you see, you pay, but you then don’t get anything, when you are healthy and nothing happens to you.

When, I was riding a motorbike to Krabi, Thailand with my wife, I bought an insurance policy. While we were in Thailand at Trang Highway, just about 15km to Krabi, we got into an accident and suffered injuries. My wife had a slip disc and I had broken my right hand. Luckily, we had our insurance. When we came back to Malaysia, I received a large sum of money from the insurance.  From there I realized, you don’t pay that much, but then you get a huge reserve when you need it.


iBanding: What made you choose insurance as your career?

Fadzil: Personal event and flexibility. Actually this is the idea when I met one of my mentor. The mentor said, “When you’re working, you become like a slave.” And I asked why. He then said, “Working is like slavery because everything you do is for the company or your boss.” So he asked me, “Do you know what the ultimate goal of the company is?” I told him that I don’t know and he continued saying, “the ultimate goal of the company is to maximize your work and minimize your salary.” He then suggested where I can maximize my salary and minimize work. That is why I joined insurance.


iBanding: Do you specialize in a type of insurance?

Fadzil: Currently, 2016, I am more focused on business value protection especially for Keyman, buy and sell agreement as well as share purchase agreement for those businessmen. I focus more on an exit plan for them. I am not saying that I am not focusing on other insurances like medical card, personal insurance or income protection. Yes, I still do those, but now I am just focused on Keyman and business protection.

For Life Insurance, I focus on endowment or investment link. Nowadays, most Malaysians focuses on investment link because they’ll have a portion of the investment. Previously, when you buy the insurance, you will get back some of the cover but let’s say if you were not involve in any accidents, you would not get anything. Though, for this investment link, you’ll get partially and that’s quite interesting to them.


iBanding: What is Keyman insurance? And when would you buy it?

Fadzil: The Keyman insurance is an exit plan for those businessmen, who need a huge cash reserve, in case something happen to them. We call it Sinking Fund. For example, I run a business and suddenly something happens to me. Question is, do I have enough Sinking Fund to continue my business? Another case is to make a legacy assurance for my business.

Yes, most businessmen claims to have enough Sinking Fund, but then it is just on papers, because they want to apply for loan with the bank. In reality, they don’t have that Sinking Fund. It is just on papers, that’s one. And two, to cover the potential loss of the company. For example, the turnover is about RM 50,000 a month. What happens if the key man (Keyman) is no longer with the business due to illness, death or even disability? The profit will drop.


iBanding: What’s the average sum insured for Keyman?

Fadzil: Two million, that’s the normal one.


iBanding: And is it only for death, disability or illness?

Fadzil: Yes, actually it is pretty flexible or custom made. For example, if the client wants the medical card, you can add on. The medical card is just a rider then. It is not a basic plan. The basic plan is death, disability and also critical illnesses. The others you can add on but of course, the premium will be higher too.


iBanding: What are the biggest mistakes Malaysians make in buying insurance?

Fadzil: They buy without knowing what they are buying. It is important that when you buy insurance, you fully understand what insurance you have and what it covers. Your agent needs to explain all the important details of the insurance to the customer. Many times it is not enough.

Most of my clients, when I ask them how much you pay for your insurance?  RM150/month. How much is your salary? RM4,000. It is not enough. Insurance should be roughly 10% of your salary. Then you can cover your income, when something bad happens. That is why most Malaysians are under-insured.


iBanding: For car insurance, what are the most common mistakes Malaysians make?

Fadzil: The most common mistake is that Malaysians buy Market Value motor policy and not Agreed Value motor policy. So, let’s say if you follow the Market Value, it is quite cheap compared to Agreed Value. But then, they don’t know the value of the car will depreciate. This means that the value of the car will go down over time. Let’s say, if something happens to your car tomorrow, the insurance company will pay you only Market Value. This amount is not enough to buy a new car. If you buy Agreed Value insurance, you always get the full amount that was agreed at the beginning.

Another common mistake is not to include cover for Flooding. When your car is damaged during flooding, most insurance companies will not pay for the damages, because Flood is a special “Peril”. It is not covered in your basic insurance. You need to specifically request it. This is especially important for Malaysians that live in areas that are flooded often.


iBanding: Since you’re focusing on Keyman, are you cross selling a lot of different insurance?

Fadzil: Yes, I do cross selling. Same goes to SME insurance, especially for those businesses that are having the petty cash inside the premise. For example, when they bring the money to the nearest bank, they get robbed on the way. This can be insured. It is called Money in Transit and part of the SME package insurance. Another important is Fidelity Guarantee. If your staff betrays you or steals from you, you can insure for that.


iBanding: Why do you think that they do not know? Is it not common?

Fadzil: Because it is not mass. Not everybody buys it. Most of the agent focuses on medical card, because it is easy to sell. That is why, when you open Facebook most of them will do copyrighting on medical card and unlimited medical card. That’s the thing, talking about household insurance, travel card insurance, and business insurance and so on, not many agents focus on them. The market is there, but not as big as medical card.


iBanding: What is your secret of success?

Fadzil: I’m not successful yet but going to. In my opinion, to be successful you need to be persistent and not giving up easily. Sometimes, when you do business you get into a down mood. Just don’t give up. Do what Will Smith in the movie did. The Pursuit of Happiness inspired me. When I am down, I watch that movie.


iBanding: What is the most challenging situation you have to overcome as an insurance agent?

Fadzil: To let people know that insurance is not a scam. Malaysians do not like to make commitment on having something that is intangible. So the challenge for me is to convert the intangible to become the tangible.


iBanding: Where do you think the insurance industry is heading next year? Where do you think it is heading 5 years from now?

Fadzil: The number one issue is Detariffication. It is challenge for the agent, because most of the foreign company will penetrate Malaysia in General. Liberty and Generali have recently entered Malaysia. Most of the Bumiputera companies have started to merge or start to sell their shares. It is a challenge because it is difficult for the agent to find new customers.

The Malaysian government hospital also starts to impose the FPP Program (Full Paying Patient). That is the trend I see when the government starts to de-subsidize those things. Those days when you enter the government hospital, you do not have to pay. Nowadays, the rate starts to increase. For example, if I were to have surgery in the government hospital, I can go fast but I would be paying the same rate with the private hospital. We would not be subsidized anymore. What I see, in 5 years, we Malaysians need life insurance, just like the Singaporeans. If you’re not a Fully Paying Patient you would have to wait. Only for those who has money, they would have the advantage, to go first or even choose which doctor and department they like.

Those days, you can’t do such, only in the private sector. These days, the government starts to implement it. That has tremendous effect on normal patients.

Thank you very much Fadzil for the time and wisdom you have shared with us. If our readers have any question or would like to know more about Fadzil, you can check out his agent listing at Fadizl Razab



Sorotan Ejen

Sorotan Agen memaparkan ejen-ejen Takaful & Insurans yang sentiasa memberikan perkhidmatan yang luar biasa kepada pelanggan-pelanggan mereka. Kami kongsikan kisah latar belakang mereka dan minta nasihat bagaimana rakyat Malaysia boleh melindungi diri dengan lebih baik dengan insurans dan takaful di dalam kes-kes kemalangan dan penyakit.

Bulan ini kami menemubual Fadzil Razab dari Kuala Lumpur. Beliau berkongsi ceritanya dengan kami, apa yang membuat beliau memutuskan untuk menjadi ejen insurans dan apa yang rakyat Malaysia patut perhatikan dalam polisi insurans mereka.

Nama: Fadzil Razab

Lokasi: Kuala Lumpur


iBanding: Terima kasih kerana sudi bersama kami di Agent Spotlight. Boleh ceritakan sedikit tentang diri anda? Apakah latar belakang akademik anda dan apa anda lakukan sebelum sertai industri insurans?

Fadzil: Saya graduan UNIMAS (University Malaysia Sarawak), Kuching, Sarawak. Saya memiliki Ijazah Sarjana Muda dalam Pembangunan Sumber Manusia. Sebelum menceburi bidang insurans, saya bekerja sebagai pekerja sosial perubatan di UMMC (University Malaya Medical Centre), isteri saya masih di sana sekarang. Saya bekerja di UMMC lebih kurang 7 tahun. Tugas saya ialah membantu pesakit yang telah dirujuk oleh doktor untuk mendapatkan rawatan atau pembedahan tetapi tidak berkemampuan. Contohnya pesakit kanser yang memerlukan rawatan kos tinggi, saya akan bantu kendalikan dana bantuan mereka.

Bagi rakyat Malaysia, saya biasanya kendalikan dana seperti Tabung Kebajikan and Tabung Bantuan. Saya buat penilaian untuk mengenalpasti pesakit yang layak mendapat bantuan. Dari situ, saya mula tertanya mengapa ramai rakyat Malaysia, terutamanya kaum Melayu yang mampu memiliki insurans tetapi tidak membelinya. Ia bukan lagi soal kemampuan, tetapi soal kepentingan (prioriti). Disebabkan itu, saya memutuskan bahawa saya perlu lakukan sesuatu untuk membantu orang ramai.


iBanding: Telah berapa lamakah anda berada dalam industri insurans?

Fadzil: Ini tahun kelima saya.


iBanding: Anda kata rakyat Malaysia berkemampuan untuk memiliki insurans tetapi enggan berbuat demikian, kenapa ya?

Fadzil: Ianya soal prioriti. Contohnya, rakyat Malaysia apabila dapat gaji setiap bulan, apa prioriti pertama mereka? Nombor satu mereka akan bayar pinjaman rumah, kedua kereta mereka, ketiga belanja makanan, keempat untuk riadah atau untuk keseronokan dan kelima, keenam, ketujuh sehinggakan gaji tinggal kosong. Kemudian mereka akan gunakan kad kredit sehingga gaji sudah jadi negatif. Insurans terletak di nombor 20. Isunya, mengapa tidak beli insurans untuk lindungi nombor 1-7? Ianya prioriti berbanding kemampuan. Rakyat Malaysia mampu, cuma lebih suka berbelanja berlebihan dan guna kad kredit.

Masa saya bekerja di UMMC, kami perlu menilai pesakit secara menyeluruh sebelum menentukan sama ada untuk memberi bantuan. Semasa saya selidik kedudukan kewangan mereka, saya tahu mereka sebenarnya mampu miliki insurans. Cuma mereka terlebih berbelanja. Mereka tidak menabung. Mereka dapat gaji RM 3,000 tapi belanja RM 4,000. Jadi apabila sesuatu yang tidak diingini berlaku, mereka mula meminta bantuan. Sebab itulah saya berhenti dari situ dan sertai bidang insurans.


iBanding: Adakah itu punca utama anda menukar bidang kerjaya anda?

Fadzil: Ada 2 sebab. Satu kerana pengalaman saya di UMMC. Sebab kedua ialah matlamat peribadi. Pada mulanya saya tidak yakin dengan insurans. Saya agak ragu-ragu. Kerana, kita bayar tetapi kita tak dapat apa-apa darinya ketika kita sihat dan tiada apa masalah berlaku.

Satu ketika semasa saya menunggang motosikal ke Krabi bersama isteri saya, saya ada membeli insurans. Semasa berada di Lebuhraya Trang di Siam, 15km dari Krabi, kami kemalangan di mana kami mengalami kecederaan. Apabila kami pulang ke Malaysia, saya terima sejumlah wang yang besar dari polisi insurans kami. Dari situ saya sedar kita tidak perlu berbelanja banyak untuk insurans tetapi pampasannya lumayan ketika diperlukan.


iBanding: Mengapa anda pilih bidang ini sebagai kerjaya?

Fadzil: Peristiwa peribadi dan fleksibiliti yang ditawarkan. Sebenarnya ianya idea salah seorang mentor saya. Dia pernah berkata: “Bila kita bekerja, kita jadi serupa hamba”. Saya tanya kenapa. Dia jawab, “Bekerja sama seperti penghambaan kerana apa saja yang dibuat adalah untuk syarikat atau boss kita”. Lalu dia bertanya pula, “Tahukah apa dia matlamat utama syarikat?” Bila saya kata saya tidak tahu, dia sambung lagi, katanya: “Matlamat syarikat adalah untuk memaksimakan tugasan pekerja dan meminimakan gaji mereka”. Dia seterusnya cadangkan di mana saya boleh maksimakan kedua-dua gaji dan tugas saya. Maka itulah sebab saya sertai bidang insurans.


iBanding: Apakah pengkhususan anda dalam bidang insurans ini?

Fadzil: Buat masa ini, dan di tahun 2016, I fokus pada business value protection, terutamanya Keyman, dan menjual beli perjanjian dan juga persetujuan pembelian saham bagi ahli perniagaan. Saya lebih fokus kepada pelan keluar (exit plan) untuk mereka. Ini tidak bermakna saya tidak fokus pada polisi insurans lain seperti kad perubatan, insurans peribadi atau perlindungan pendapatan. Cuma saya lebih khusus pada Keyman dan perlindungan perniagaan.

Bagi insurans hayat, saya tumpukan pada endowmen atau insurans berkaitan pelaburan. Sekarang ini ramai rakyat Malaysia yang fokus pada insurans berkaitan pelaburan kerana mereka dapat pulangan pelaburan. Sebelum ini, apabila anda beli insurans, anda dapat balik sebahagian pampasan tapi jika tiada musibah berlaku, anda tidak dapat apa-apa. Melalui insurans berkaitan pelaburan, pelanggan dapat ganjaran yang menarik.


iBanding: Apakah insurans Keyman? Bilakah pula masa yang sesuai untuk memilikinya?

Fadzil: Insurans Keyman adalah suatu pelan keluar atau “exit plan” bagi ahli perniagaan yang memerlukan simpanan wang yang lumayan, sekiranya berlaku sesuatu yang tidak diingini. Ia digelar sinking fund atau kumpulan wang pelepas. Contohnya, jika saya memiliki perniagaan dan tiba-tiba sesuatu berlaku terhadap saya. Adakah saya memiliki kumpulan wang pelepas yang mencukupi untuk teruskan perniagaan saya? Satu lagi contoh ialah apabila saya inginkan jaminan legasi untuk perniagaan saya.

Iya, kebanyakan ahli perniagaan akan mengatakan mereka memiliki kumpulan wang pelepas mencukupi, tapi itu hanya pada kertas sahaja untuk membolehkan mereka memohon pinjaman bank. Pada hakikatnya mereka tidak memilikinya. Itu contoh pertama. Kedua pula adalah untuk menampung kerugian syarikat. Contohnya jika perolehan adalah RM 50,000 sebulan, apa akan berlaku jika key man (ahli utama) tidak lagi berada di dalam perniagaan kerana sakit, kematian atau hilang upaya? Keuntungan akan terjejas.


iBanding: Lazimnya berapakah jumlah yang diinsuranskan?

Fadzil: Biasanya 2 juta.


iBanding: Adakah ianya hanya melindungi kematian, hilang upaya atau penyakit?

Fadzil: Iya, ia sebenarnya sangat fleksibel dan boleh diubah-suai. Contohnya, jika pelanggan inginkan kad perubatan, ianya boleh disertai sekali. Kad perubatan itu hanyalah tambahan, ia bukan pelan asas. Pelan asas adalah kematian, hilang upaya dan penyakit kritikal. Boleh juga tambah pelan lain, tetapi premiumnya akan bertambah.


iBanding: Apakah kesilapan terbesar rakyat Malaysia dalam membeli insurans?

Fadzil: Mereka beli tanpa mengambil tahu apa yang dibeli. Ianya amatlah penting untuk memahami insurans yang dibeli, apa yang dilindungi. Ejen anda perlu jelaskan semua maklumat penting kepada pembeli. Selalunya ianya tidak memadai.

Kebanyakan pelanggan saya, jika saya tanya berapakah mereka bayar untuk insurans mereka? RM 150 sebulan. Gaji mereka? RM 4000. Ianya tidak cukup. Insurans sepatutnya lebih kurang 10% dari pendapatan anda. Barulah ia dapat lindungi pendapatan anda jika berlaku sesuatu yang tidak diingini. Sebab inilah ramai rakyat Malaysia yang terkurang insurans.


iBanding: Bagi insurans kenderaan, apa pula kesilapan lazimnya dilakukan oleh rakyat Malaysia?

Fadzil: Kesilapan paling biasa dilakukan ialah mereka membeli atas nilai pasaran dan bukan nilai bersetuju (agreed value). Jadi jika kita mengikut nilai pasaran, harganya lebih murah daripada nilai bersetuju. Tetapi mereka tidak memahami bahawa harga kereta akan menyusut. Ini bermakna nilai kereta akan berkurangan dari masa ke semasa. Jadi jika sesuatu berlaku pada kereta anda esok, syarikat insurans hanya akan memberi pampasan sebanyak nilai pasaran semasa tuntutan dibuat. Jumlah ini tidak cukup untuk membeli sebuah kereta. Jika anda membeli insurans mengikut nilai bersetuju, anda akan dapat jumlah penuh yang telah dipersetujui.

Satu lagi kesilapan lazim ialah tidak membeli perlindungan tambahan untuk melindungi dari banjir. Jika kereta mereka rosak disebabkan banjir, kebanyakan syarikat insurans tidak akan membayar pampasan, kerana banjir adalah suatu bencana alam. Ia tidak termasuk di dalam polisi asas. Anda perlu meminta untuk ianya ditambahkan ke dalam polisi anda. Ini penting terutama bagi mereka yang tinggal di kawasan yang sering mengalami banjir.


iBanding: Memandangkan anda fokus kepada insurans Keyman, adakah anda banyak melakukan jualan silang (cross selling)?

Fadzil: Iya. Saya ada melakukan jualan silang. Sama seperti insurans SME, terutama bagi syarikat yang menyimpan wang runcit di dalam premis. Contohnya, apabila mereka membawa wang tersebut ke bank, mereka dirompak di tengah jalan. Ini boleh dilindungi oleh insurans. Ia digelar Money in Transit dan adalah sebahagian dari pakej insurans SME. Satu lagi yang penting ialah Fidelity Guarantee, di mana jika anda ditipu oleh pekerja atau pekerja mencuri dari anda, itu juga boleh dilindungi insurans.


iBanding: Mengapa agaknya ramai yang tidak tahu tentang ini? 

Fadzil: Sebab ia tidak dihebohkan. Bukan semua membelinya. Kebanyakan ejen hanya tumpukan pada kad perubatan kerana ianya senang dijual. Sebab itulah kita sering jumpa iklan di Facebook tentang kad perubatan. Tidak ramai yang menceritakan tentang insurans perjalanan, perniagaan dan lain-lain. Pasarannya ada, cuma tak seluas kad perubatan.


iBanding: Apakah rahsia kejayaan anda?

Fadzil: Saya akan berjaya tetapi belum lagi. Pada pandangan saya, untuk berjaya kita perlu gigih dan tidak berputus asa dengan mudah. Kadang kala dalam perniagaan, kita alami mood yang kurang positif. Cuma jangan putus asa. Buat apa yang dilakukan oleh Will Smith dalam filemnya. The Persuit of Happiness sememangnya memberi inspirasi kepada saya. Saya tonton filem itu setiap kali saya merasa murung.


iBanding: Apakah situasi paling mencabar pernah anda tangani sebagai seorang ejen?

Fadzil: Pastinya ketika ingin menerangkan kepada orang ramai bahawa insurans bukan suatu penipuan. Rakyat Malaysia tidak suka komit dengan sesuatu yang dianggap tidak ketara atau bukan zahir. Jadi cabaran saya adalah untuk menukarkan apa yang tidak zahir kepada zahir.


iBanding: Pada pendapat anda, ke manakah arah tuju industri insurans pada tahun hadapan? Dan bagaimana pula 5 tahun akan datang?

Fadzil: Isu pertama ialah Detariffication (liberalisasi tarif insurans). Ianya akan memberi cabaran kepada ejen kerana banyak syarikat asing akan menembusi pasaran Malaysia. Liberty dan Generali sudah pun memasuki Malaysia baru-baru ini. Kebanyakan syarikat Bumiputra sudah bermula bergabung atau menjual saham mereka. Ianya mencabar, kerana ia menjadi sukar bagi ejen mencari pelanggan baru.

Pihak hospital kerajaan juga mula mengadakan program FPP (Full Paying Patient) atau Perkhidmatan Pesakit Bayar Penuh (PPBP). Ini trend yang saya perhatikan apabila kerajaan mula mengambil balik subsidi. Dulunya jika anda memasuki hospital kerajaan, anda tidak perlu membayar apa-apa. Tapi sekarang, kadarnya telah mula naik. Contohnya, jika saya perlu menjalani pembedahan di hospital kerajaan, saya dapat lakukan dengan cepat tetapi kadarnya sama seperti hospital swasta. Kita tidak akan dapat bantuan subsidi lagi. Pada pandangan saya, dalam tempoh 5 tahun, kita semua perlukan insurans hayat, sama seperti rakyat Singapura. Jika anda bukan pesakit bayar penuh, anda perlu tunggu giliran. Pada yang mampu, mereka dapat kelebihan, dapat perkhidmatan cepat atau dapat pilih doktor atau jabatan yang mereka kehendaki.

Dulu kita tidak boleh lakukan sebegini, hanya di hospital swasta. Tapi kini, hospital kerajaan juga sudah mula mempraktikkannya. Ianya memberi kesan kepada pesakit biasa.