The insurance industry has always played an important part when it comes to protection against losses caused by accidents and illnesses. Rachel Neo, founder of Neo Team under Great Eastern Life Assurance shares with Top 10 of Malaysia on what inspired her to venture into the insurance industry and her journey of going through challenges that eventually led to success.
Rachel Neo grew up in a loving and healthy family in the historical town of Melaka. “I studied and obtained a diploma in graphic design. This led me to me to begin my career in advertising before I went into sales and services,” shares Neo. Neo worked 6 years in Kalbe Farma where she had to handle lots of fast-moving consumer goods. However, after the loss of a friend, Neo decided to change her career. “I was fortunate to have met my Group Agency Manager, KC Yau who guided me through 11 years in the insurance industry,” says Neo who believes that the insurance industry is a vital and dynamic industry.
Within the second year in the insurance industry, Neo rose to become a member of the Million Dollar Round Table (MDRT). Such membership is for those who have made it to be in the 2% of agents who have achieved their global targets for personal sales under the Premier Association of Financial Professionals. Neo was a member of the MDRT for nine consecutive years and she is planning to make it into the lifetime MDRT this year. The Neo Team chalked up a sales volume in excess of RM1.5 million. Under Neo’s guidance and leadership, the Neo Team has achieved impressive results. In 2015, it was the insurance industry’s fifth best performer in the country and a year later, it took the second spot. “My hope for the future is to focus on grooming my team members to achieve success. Many people have great ideas and concepts but these ideas and concepts must be nurtured by a great system and structure,” shares Neo. “In addition to converting abstract ideas into tangible results, a salesperson would need to have a sunny disposition, an ability to compliment someone and the knack for telling a story,” says Neo.
Insurance, by definition, is a contract that protects an individual or a lawful entity with a guarantee of a certain monetary amount. Neo Team focuses on specialized policies for its clients and every customer is attended to by 2 members of the team. “A junior and a senior team member attend to every client and in addition to that, a professional team handles the claims,” Neo explains.
Despite the accolades and progresses made, Neo also acknowledges that there are challenges that need to be addressed on a daily basis. “The first 3 years were a rather difficult period for us but I persevered as I was so determined to succeed. You see, I would be convinced by my success that I have made the right choice and I would be able to encourage others to join the insurance field,” says Neo enthusiastically. Being a talented and hardworking person, Neo is also a good example for her team mates.
Neo believes that the future is promising for her as she diligently works out her plan. She has set her eyes on being the group agency’s manager 3 years down the road. “I also have plans to retire early but it doesn’t mean that I would stop working,” laughs Neo who will then focus her attention to other activities. Neo is level headed when it comes to balancing her professional and personal life. “Sunday is the day for my family,” she says. Well, what advice has Neo got to share with young people who are looking to be a part of the insurance industry? “For one to succeed in this industry, a thirst for knowledge is necessary. In addition, it is important to establish networks. You definitely need to have perseverance to overcome the challenges, especially the initial ones, so that you would not give up.” Neo also expresses her gratitude to her family, husband, team mates and also clients who have played a role in her journey of attaining success.