Agency Management is different from personal sales. It demands specialized management skills in leading a group of people to achieve the desired goals. The responsibilities of a successful manager can be tremendous. And hence, leadership quality is without doubt the prerequisite for the upgrading of any life insurance agent to the supervisory level. No one is born a leader but it can be acquired through education and training.
The objective of this course is to prepare potential agency leaders to be adequately equipped with sound knowledge on management skills and techniques. It is pertinent that a good agency force be developed and in order to achieve this, leaders must be trained to assume this responsibility. Better management of agency resources and personnel would mean more efficient and professional service for policy holders. Higher standards of professionalism will ultimately enhance the public image of the life insurance industry
With this aim in mind, the course is designed to incorporate the important aspects relating to agency management. The contents under BAMC are :
- Preamble & Introduction to Agency Management
- Leadership & Planning
- Performance Management – Supervision
- Performance Management – Motivation
- Agency Building Road Map
Successful completion of the Basic Agency Management Course depends on satisfactory performance in three (3) areas, namely Attendance, Moderator’s Grade and Examination.
1. Attendance :
The requirement is 100% attendance at class sessions. Failing to achieve this will disqualify you from taking the examination.
2. Moderator’s Grade :
This is a grade given by Moderator to a candidate for the candidate’s class participation and completion of questionnaires and action projects.
This grade is the average of all grades – the average grade for the questionnaire; the average grade for class participation and the average grade for action projects. The Moderator’s Grade contributes 30% to the final grade.
Average Marks for Questionnaire = 80 marks
Average Marks for Class Participation = 86 marks
Average Marks for Action Projects = 90 marks
Total Score 256 marks
Average Score = 256 marks ÷ 3
= 85.33 marks
Moderator’s Grade = 85.33 marks x 30%
= 25.6 marks
The Moderator’s Grade is valid for 2 calendar years.
Example : If the candidate completes the course in year 2005, the grade is valid until December 2006.
The Moderator’s Grade must be submitted to MII within one week after completion of the course.
Failing to submit the questionnaire or action projects on time will cause points to be deducted from the respective grade as stated below. However, the candidate is allowed to sit for the examination.
Late submission of questionnaires or action projects will cause marks to be deducted:
50% of earned marks
if submission after a week of completion of the course.
For example, a 90% questionnaire and action projects submitted up to a week late, would receive a 45% grade.
100% of earned marks
if submission made more than 14 days after completion of the course, the entire marks will be deducted
If assignment submitted 1 week after course completion,
Moderator’s Grade = 25.6 marks x 50%
= 12.8 marks
If assignment submitted 2 weeks after course completion,
Moderator’s Grade = 25.6 marks x 0%
3. Examination :
The examination will contribute 70% of the BAMC final grade.
Examination Score = 80 marks
Examination Grades = 80 marks x 70%
= 56 marks
4. Final Grade :
(i) To pass the BAMC, candidates must attain 60% of the final grade.
Total Final Grade = Moderator’s Grade + Examination Grade
= 25.6 marks + 56 marks
= 81.6 marks
In the above example, students must obtain a minimum of 86 marks in the examination to obtain a Final Grade of 60.2 (86 marks x 70%) in order to successfully complete the BAMC.
(ii) Students who do not attain a 100% class attendance are not allowed to sit for final examination.
(iii) Students who sat for the examination but failed to achieve a Final Grade of 60% are allowed to repeat the examination.
Students who failed the examination can retake the examination and use the same Moderator’s Grade provided the Moderator’s Grade is still valid. Otherwise the student must obtain a new Moderator’s Grade by successfully completing the course.