25 Jun 2021

Birth of a new born

Raymond Chan from Generali Insurance Agency Company

It was a sunny day on 1st September 2017 in Shenzhen, China. A young lady, my assistant, welcomed me on the lift lobby. It was my first day to Generali Insurance Agency Co. Ltd. (GIAC). The whole company had only 2 staff (myself and my assistant) then. Though we had our provisional office, we had no system nor any functional support in front of us. Basically we got to build the company from scratch except having a license to operate. This was how we started GIAC, our agency company business in China. GIAC is a Generali wholly owned foreigner insurance agency company. With regulatory approval, we can distribute insurance products as an agency company. We started to recruit our colleagues, built our system and agency force, set our operation and internal procedures, negotiate and sign agency agreements with insurance companies. Gradually we had our structure and the company was operational. Thanks to the trust of the Group and hard work of our colleagues. In 3 and half years time, GIAC has built up 5 branches in different cities in China with more than 70 internal staff and 800 registered agents distributing products of more than 30 different life and P&C insurance partners. In 2020, GIAC managed to write more than CNY 200 million GWP with commission income over CNY 55 million. Many thanks to the support and guidance from Asia Regional Office and the tremendous contribution of all GIAC colleagues. Great team work !