PERWAKIM Rallies Malaysian General Insurance Agents and Corporate Agencies to Elevate Professional Standards through Education, Protective Coverage, and Cooperative Innovation

PETALING JAYA, Malaysia, May 20, 2026 /PRNewswire/ -- Persatuan Wakil-Wakil Insuran Am Malaysia (PERWAKIM), the National Association of General Insurance Agents of Malaysia launched a landmark nationwide campaign on 14 May 2026. This initiative aims to elevate the profile of general insurance agents, strengthen regulatory cooperation, and invite new members to join its expanding community to build a stronger industry footprint.

Commenting on the association's strategic trajectory, Mr. CHONG KOK WAI, President of PERWAKIM (2024–2026), stated:

"The general insurance landscape in Malaysia is undergoing profound changes. As professional agents, we are not merely salespeople; we are trusted advisors guarding the financial security of individuals and corporate businesses alike. The challenge before us is to raise the stake and gain prominence in the industry by upscaling our members. PERWAKIM acts as the definitive shield and driving force for agents nationwide.

By standing together as one unified body, we gain the collective strength to successfully address industry shifts, upskill professional education of agents, provide professional insurance indemnity cover, and deploy cooperative wealth distribution to spearhead this process. We extend an open invitation to all general insurance agents across Malaysia to join our ranks. Simultaneously, we look forward to deepening our collaboration with insurance companies and regulatory bodies to cultivate a harmonious ecosystem based on fair practice, consumer trust, and shared prosperity."

To safeguard the future of agents in an evolving marketplace with artificial intelligence (AI) utilisation, PERWAKIM has identified three strategic pillars to drive its long-term vision to ensure Malaysia's pool of over 40,000 agents are not left behind. The time is now to join PERWAKIM and benefit from its innovative cooperative business model opportunities.

Wealth Creation via the Cooperative Society Business Model

PERWAKIM is working toward wealth creation opportunities through a members-only business collaboration built on a cooperative society model, where members and industry professionals become direct stakeholders.

By operating a cooperative model, PERWAKIM insulates its members from the volatile short-term pressures of the market. Profits are not siphoned off to external equity shareholders; instead, the cooperative ensures that value is recycled back to the members who generate it.

This structure provides a superior differentiator by establishing a business mechanism centered on mutual utility and sustainable wealth distribution. When agents act as both owners and stakeholders, organisational alignment increases. The collective economic scale allows individual agents to participate in larger, high-value commercial ventures that would otherwise be out of reach.

Advanced Professionalism via Global Educational Partnerships

To bring agents to the next level of professionalism, PERWAKIM believes that continuous, specialised education is vital and to achieve this, the association has strategic alignments with organisations such as the Australian & New Zealand Institute of Insurance and Finance (ANZIIF). This partnership is designed to enhance members' competencies in insurance agency management, instilling a world-class standard of technical expertise, ethical operations, and leadership that elevates the status of the entire Malaysian intermediary workforce.

Protection through Professional Indemnity Insurance

Operating in a highly regulated financial climate means managing risks effectively. PERWAKIM is actively empowering its members by providing structured access to comprehensive Professional Indemnity Insurance. This protective cushion shields agents against liability claims and operational risks, providing total peace of mind while reinforcing consumer confidence in PERWAKIM-registered professionals.

Joining benefits for agents and insurers

For individual insurance agents, PERWAKIM serves as a critical career accelerator and protective network. Members gain direct access to professional development opportunities, including educational seminars, compliance workshops, and industry forums designed to keep them fully aligned with Bank Negara Malaysia (BNM) frameworks and the Persatuan Insurans Am Malaysia (PIAM) best practices. Furthermore, the association provides a crucial business-matching platform that allows agents to network, share market insights, and safeguard their general well-being.

For insurance companies (Insurers), partnership with PERWAKIM ensures direct access to a highly trained, ethical, and structured agency force. By supporting PERWAKIM, corporate insurers benefit from streamlined distribution channels, improved compliance standards, and an elevated reputation across the consumer market.

Membership Drive Open Now

PERWAKIM encourages all general insurance agents and company agencies throughout Malaysia to register as members and start upscaling the industry today!

• Cost: RM120.00 for a two-year membership term. Payment & Registration Details: Bank Account: MAYBANK (Malayan Banking Berhad), Account Number: 564294306464, Account Name: Persatuan Wakil Wakil Insuran Am Malaysia.

To apply, download the PERWAKIM Membership Form and submit your application along with proof of payment via email to [email protected].

• For Professional Indemnity Insurance enquiries: Contact Ms. Yong Poh Yee at [email protected] or call 012-603 9612.
• For Co-operative Investment enquiries: Contact Mr. Eddie Lim at [email protected] or call 012-302 7713.

PERWAKIM Membership Form Download Link: https://jf2j7cg144q.sg.larksuite.com/drive/folder/R4TOf2rXIlNEO8dZBrPl3GQ1gse?from=from_copylink

SOURCE PERWAKIM