September 18, 2024
Asian Institute of Insurance Sets Sight on Asia
KUALA LUMPUR: The Asian Institute of Insurance (Aii), formerly known as the Malaysian Insurance Institute (MII), has embarked on a strategic rebranding that reflects its ambition to lead insurance education and professional development across Asia. This transformation marks a significant milestone in Aii’s journey from a national institution to a regional powerhouse.
Founded in 1968 as Pusat Latihan Insurans Malaysia, the Institute has been instrumental in shaping the Malaysian insurance landscape and providing certification courses across ASEAN for over 50 years. “Our journey began with the goal of raising professional standards in Malaysia’s insurance sector,” said Paul Low, CEO of Aii. “By 1984, we evolved into the Malaysian Insurance Institute, signaling our expanding influence. Today, as the Asian Institute of Insurance, we are ready to broaden our impact across Asia.”
Low highlighted the evolution of Malaysia’s insurance industry which is intertwined with the nation’s rise to a leading economy in Asia. “While the roots of Malaysia’s insurance sector date back to the 1800s, its development mirrors the country’s unique needs and aspirations,” Low said. “Despite facing economic challenges, shifting consumer demands, and the need for heightened professionalism, the industry has consistently strived to enhance its knowledge and skills base.”
The rebranding underscores Aii’s commitment to addressing the changing needs of the insurance industry in a dynamic global landscape. With a membership of 23,250 professionals across nine countries, Aii is strategically positioned to drive initiatives that elevate skills and professionalism throughout Asia. Through its equipping tracks anchored on the Future Skills Framework, Aii integrates essential core and advanced skills to support the upskilling of the insurance workforce.
Aii’s qualifications are recognised by esteemed international organisations, including the UK’s Chartered Insurance Institute and the Australian and New Zealand Institute of Insurance and Finance. “Our focus is on enhancing our capabilities in digitalisation, artificial intelligence (AI), and environmental, social, and governance (ESG) principles,” Low added. “These efforts will help solidify our goal of becoming the ‘Harvard’ of the insurance industry.”
The launch of Aii was officiated by YBhg Dato’ Seri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia. This significant event celebrates Aii’s legacy of excellence and marks the beginning of a new era of growth and innovation for the insurance sector in Asia.
About the Asian Institute of Insurance
The Asian Institute of Insurance (Aii) is a leading provider of insurance education and professional development in Asia. With over 50 years of history, Aii is dedicated to raising industry standards, driving innovation, and shaping the future of insurance across the region. For more information, visit www.aiiasia.org.
