Source: PIAM, 29 September 2020
In adapting to the new normal, Persatuan Insurans Am Malaysia (PIAM) held its first-ever virtual orientation and industry induction program for the 16th intake of the General Insurance Internship for Talent (GIIFT). It was held on 29 September 2020 via Webex.
In spite of the current pandemic situation, PIAM received more than 90 applications, out of which more than 15 interns were selected to join this program. These interns were mainly undergraduates from the faculties of Actuarial Science, Risk Management & Insurance, Business Administration and Master of Commerce from Universiti Utara Malaysia (UUM), Universiti Tunku Abdul Rahman (UTAR), Tunku Abdul Rahman University College (TAR UC), The University of Sydney and University of Wisconsin-Madison.
During the virtual session, PIAM Assistant General Manager William Tan shared an overview on the performance of the general insurance industry in the first half of 2020 with the interns. This was followed by a Q&A session. These interns were then assigned and attached with PIAM member companies on a 12 to 16 weeks structured internship program. They were exposed to the various departments such as underwriting, actuary, pricing valuation, finance, bancassurance and branch operations for a wholesome general insurance experience under the guidance of experienced mentors.
The General Insurance Internship for Talent (GIIFT) project was launched on 1 July 2015. It is the flagship project on talent for the industry. It was positioned as an image enhancing initiative to reach out and profile the industry to the pool of young talent at our institutions of higher learning. The aim being to showcase the rich and diverse career opportunities in General Insurance by exposing the young talent to General Insurance companies and enable them to gain a first-hand insight of the various job functions involved.
The internship is open to Malaysian undergraduates of all study disciplines in both local and international universities based in Malaysia. To date, a total of 436 interns have participated in GIIFT of which 63 have joined member companies, Insurance Services Malaysia (ISM) and Vehicle Theft Reduction Council of Malaysia (VTREC). GIIFT has been on-going for the past five years with a successful track record and strong support from PIAM member companies. The 17th intake will be under way for January – March 2021. PIAM is targeting to recruit between 20 and 25 interns for this intake.