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Insurance Management Associate Program (IMAP)

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  #21 (permalink)  
Old 29-03-2020, 07:53 PM
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I joined an Insurance MAP at the largest insurance company in Singapore.
IMO, it sucks and if I had another higher paying job offer, I wouldn't join.
1. They force you to organise events, do saikang.
2. You get **** rotations and don't get the dept you want after you "finish" the rotations. During your rotations, you get saikang since nobody wants to teach you as you're only there for 6 mths and not likely to come back to their dept.
3. Favouritism. Only one of your fellow MA will get to go overseas, get 50% increment eg.
4. Exams are hard for me because I have 0 interest in studying/memorising life insurance underwriting/claims, and no time (because of the events). Anyway, it's also not a useful cert to begin with.
Surprisingly, alot of NTU 1st class honours joins the IMAP. I'm a 2nd lower but have good internship experience/OA level results.
I have left the industry luckily and am now working in our financial regulator with a much higher pay. Soon, will be enrolling in US for a masters with scholarship.

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  #22 (permalink)  
Old 29-03-2020, 08:53 PM
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Quote:
Originally Posted by COVID-19 View Post
I joined an Insurance MAP at the largest insurance company in Singapore.
IMO, it sucks and if I had another higher paying job offer, I wouldn't join.
1. They force you to organise events, do saikang.
2. You get **** rotations and don't get the dept you want after you "finish" the rotations. During your rotations, you get saikang since nobody wants to teach you as you're only there for 6 mths and not likely to come back to their dept.
3. Favouritism. Only one of your fellow MA will get to go overseas, get 50% increment eg.
4. Exams are hard for me because I have 0 interest in studying/memorising life insurance underwriting/claims, and no time (because of the events). Anyway, it's also not a useful cert to begin with.
Surprisingly, alot of NTU 1st class honours joins the IMAP. I'm a 2nd lower but have good internship experience/OA level results.
I have left the industry luckily and am now working in our financial regulator with a much higher pay. Soon, will be enrolling in US for a masters with scholarship.
That's what all MAs do. Above and beyond the job scope. What did you think you were signing up for? You sound like you can't handle your job, can't self learn, have poor time management, and poor attitude. You are the epitome of an entitled fresh graduate. GROW UP, STRAWBERRY.

Oh, and we might even be from the same cohort. You disgust me.

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  #23 (permalink)  
Old 30-03-2020, 04:07 AM
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Quote:
Originally Posted by COVID-19 View Post
I joined an Insurance MAP at the largest insurance company in Singapore.
IMO, it sucks and if I had another higher paying job offer, I wouldn't join.
1. They force you to organise events, do saikang.
2. You get **** rotations and don't get the dept you want after you "finish" the rotations. During your rotations, you get saikang since nobody wants to teach you as you're only there for 6 mths and not likely to come back to their dept.
3. Favouritism. Only one of your fellow MA will get to go overseas, get 50% increment eg.
4. Exams are hard for me because I have 0 interest in studying/memorising life insurance underwriting/claims, and no time (because of the events). Anyway, it's also not a useful cert to begin with.
Surprisingly, alot of NTU 1st class honours joins the IMAP. I'm a 2nd lower but have good internship experience/OA level results.
I have left the industry luckily and am now working in our financial regulator with a much higher pay. Soon, will be enrolling in US for a masters with scholarship.
hi, may i know if it is easy to exit the industry to another job?

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  #24 (permalink)  
Old 30-03-2020, 04:07 AM
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Quote:
Originally Posted by COVID-19 View Post
I joined an Insurance MAP at the largest insurance company in Singapore.
IMO, it sucks and if I had another higher paying job offer, I wouldn't join.
1. They force you to organise events, do saikang.
2. You get **** rotations and don't get the dept you want after you "finish" the rotations. During your rotations, you get saikang since nobody wants to teach you as you're only there for 6 mths and not likely to come back to their dept.
3. Favouritism. Only one of your fellow MA will get to go overseas, get 50% increment eg.
4. Exams are hard for me because I have 0 interest in studying/memorising life insurance underwriting/claims, and no time (because of the events). Anyway, it's also not a useful cert to begin with.
Surprisingly, alot of NTU 1st class honours joins the IMAP. I'm a 2nd lower but have good internship experience/OA level results.
I have left the industry luckily and am now working in our financial regulator with a much higher pay. Soon, will be enrolling in US for a masters with scholarship.
hi may i know if it is easy to exit the industry for another company?
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  #25 (permalink)  
Old 30-03-2020, 06:36 AM
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Well, I was the first MA who left the company. So there's not much data on how easy to leave (maybe not so easy since they are still there).
I took the general insurance exams while working so I could have more options, and joined an MNC doing broking. But even so, in the financial regulator, I imagine it's not completely out of the industry. My job scope still includes (but is not limited to) insurance regulation. It's not like I became a management consultant or something. Maybe a few years later can change to a more different dept in my new company.
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  #26 (permalink)  
Old 30-03-2020, 10:49 AM
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Originally Posted by Unregistered View Post
insurance agent just say insurance agent lah.
Why don't you go read up on what is Marsh and Aon. What is Swiss Re & Munich Re. What is underwriter and actuaries. Before you embarrass yourself.
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  #27 (permalink)  
Old 30-03-2020, 11:50 AM
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Originally Posted by Random12345 View Post
Why don't you go read up on what is Marsh and Aon. What is Swiss Re & Munich Re. What is underwriter and actuaries. Before you embarrass yourself.
socially awkward insurance agents
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  #28 (permalink)  
Old 30-03-2020, 01:28 PM
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Quote:
Originally Posted by Unregistered View Post
socially awkward insurance agents
Contrary to popular belief, there are actually many other jobs in the insurance industry other than just insurance agents.

Insurance agents are usually part of an agency and their jobs are to generate sales.

There are however many other jobs just like any other company in an insurer or insurance company.

Just like any products that get sold, there are people making them even if said products are intangible.

All these products need people to come up with; from the Product Management team to the Actuaries/Pricing/Capital Management teams to the Legal, Claims, Underwriting, Policy Servicing, New Business, Distribution Ops teams, Project Management, IT teams etc.

Then, there is also the day-to-day running of a company that the HR, training, Finance, logistics teams etc have to deal with.

Apart from Insurance company as an industry, there are also reinsurance firms which cover insurers from potential financial/cash flow issues by covering part of the losses (in the form of payouts to customers) via arrangements called reinsurance treaties. Essentially, reinsurance is insurance for insurance companies. That is what companies like Swiss Re, Munich Re, RGA, Lloyds, etc deal with.

So, there is actually a lot more to insurance careers than just insurance agents.
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  #29 (permalink)  
Old 30-03-2020, 02:52 PM
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why don't you go read up on what is marsh and aon. What is swiss re & munich re. What is underwriter and actuaries. Before you embarrass yourself.
lol triggered
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  #30 (permalink)  
Old 30-03-2020, 08:23 PM
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Quote:
Originally Posted by Random12345 View Post
Why don't you go read up on what is Marsh and Aon. What is Swiss Re & Munich Re. What is underwriter and actuaries. Before you embarrass yourself.
lol boomer triggered
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