The geographical distribution of registered general insurance agents is as below :-
|No. of Agents|
|WP Kuala Lumpur||5,192||5,316|
The state of Selangor has the largest number of agents comprising 20% of the total agency population followed by Kuala Lumpur at 15%. The state with the lowest number of agents (in Peninsular Malaysia) is Perlis at 122 (0.3%).
Age Distribution of Agents
More than 85% of registered agents are above the age of 31 years. Agents within the age bracket of 31-40 formed the largest group at 30.2% followed by agents in the age bracket of 41-50 at 29.4%. Those below 21 years old comprised less than 1% of the agency force. The minimum age to be an agent is 18 years old.
Duration as General Insurance Agent
Agents who have been in the industry for more than 9 years formed 52% of the agency force. In contrast, about 19% of the agency force had been in the industry for less than 2 years. Those with 3 to 4 years of experience in the industry formed the smallest group at 0.8%.
Minimum Maintenance Contract (MMC) Requirement For General Insurance Agents
Since the implementation of the MMC Requirement in July 2003, the number of agents that have been terminated due to non-compliance showed a marked improvement i.e from 15.9% (7,656 agents) in 2005 to 5.4% (1,917 agents) in 2011.
Under the MMC Requirement, agents are required to maintain a minimum of RM20,000 production to be retained as an agent.