China, selling insurance was just a way to earn an extra income rather than a full-time career. This led to the perception that selling insurance did not require much training or education beyond having a network of personal contacts. As the standard of living and financial resources of individuals in China increases, it is becoming crucial that the financial services industry produce a large number of highly knowledgeable and well-qualified professionals to serve needs of this growing client base.
In addition, financial education helps to address the high attrition rate among agents in the Chinese insurance industry. Companies see training as a key to retention incentive because it helps raise the prospects of the individual agents’ success. Increased retention also reduces the considerable time and resources required to orient and train new agents- improving company profitability. The American College is the nation’s leading non-profit educator of professionals in the insurance and financial services industry.
Bryn Mawr, Pennsylvania, The College is a public charity that serves over 35,000 students annually, predominantly on a distance education basis. The American College offers an array of specialized designation programs, Master of Science degrees in several disciplines and customized continuing education programs for those pursuing a career in financial services. For more information, visit www.TheAmericanCollege.edu. Contact:Noel P.
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