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Life Insurance Recruiting in Asia: Trends and Key Strategies

Author

Alison Salka, Ph.D.
Principal Consultant
LIMRA and LOMA
asalka@limra.com

August 2025

Asia’s life insurance sector is in transformation, shaped by the converging forces of demographic transition, accelerating digitization and rising consumer demand for holistic financial planning. Economic growth, urbanization, expanding middle classes and increased digital adoption are accelerating insurance awareness across emerging and developed Asian markets. According to MarketLine, the Asia-Pacific life insurance sector was valued at $1.2 trillion (in U.S. dollars) in 2022 and is projected to reach $1.5 trillion by 2027, with a compound annual growth rate (CAGR) of 5 percent.

Life insurance in Asia is sold primarily through two models: bancassurance and the agency system. In developed markets like Singapore, South Korea and China, bancassurance is dominant, benefiting from consumers’ trust in banks and seamless integration with financial products. However, in fast-growing emerging markets — such as the Philippines, Indonesia and Vietnam — the agency channel remains essential, particularly for educating first-time buyers and building long-term relationships. Despite digital innovation and the rise of direct-to-consumer platforms, agents continue to serve as a vital bridge between complex insurance products and evolving customer needs.

While mature markets like Japan and South Korea face demographic headwinds, countries like Indonesia, the Philippines and Vietnam offer ground for growth due to their low insurance penetration and digitally engaged youth. Digital transformation, especially in distribution and engagement, is becoming a defining trend. The increasing use of mobile-first platforms and AI-driven personalization is helping insurers reach new customer segments while adapting to consumers' demands for convenience, transparency and value. At the same time, many regulators are supporting innovation through digital sandboxes and inclusive policies.

Another notable shift is the rising demand for holistic financial advice and protection. As consumers become more financially literate and proactive, they seek products that align with health, wellness and long-term security. This evolving expectation places greater emphasis on the quality, professionalism and approachability of insurance agents — who remain central to trust-building and needs-based selling.

In this context, recruiting the right talent into the agency channel becomes both more challenging and more critical. This article draws from LIMRA’s Asia Agency Project, regional interviews, and insights from the LIMRA-Finseca retention study to provide agency leaders with actionable recruiting strategies tailored to the modern landscape.

Recruiting Strategies

Recruiting strategies must evolve to provide a good pool of agency talent. Based on regional field research and interviews, the following best practices have emerged as the most effective ways to attract and onboard high-potential agents across Asia.

Define and Align the Ideal Candidate Profile

Successful agencies are precise about who they’re looking for: individuals with social influence, strong internal drive, and a willingness to be coached. Rather than focusing on previous insurance or financial experience, look for:

  • Resilience and emotional maturity
  • A clear personal "why" for entering the industry — what some leaders in the Philippines refer to as "hugot," or a deeply felt emotional motivation that fuels purpose and resilience
  • Availability and willingness to commit and follow agency practices

Leverage Social Media Strategically

Use platforms like Facebook and TikTok to build authentic personal brands. Showcase team culture, income progression, client impact stories, and behind-the-scenes snapshots of agency life. Combine paid and organic tactics:

  • Host live Q&As or webinars
  • Run targeted recruitment ads
  • Share testimonial reels from new recruits

Incorporate a Referral-Led Recruiting Culture

Across Asia, referral recruiting — or “agent-get-agent” strategies — consistently yield the highest conversion rates. Leaders should:

  • Encourage agents to bring in like-minded peers
  • Recognize and reward referrals
  • Provide onboarding support for referred recruits

Invest in Pre-Coding Engagement

A major challenge highlighted by both LIMRA and Finseca research is a drop-off during the early stages — after a candidate agrees to join but before they are officially licensed and onboarded. Mitigate this by:

  • Assigning mentors before licensing
  • Offering "shadowing" or joint fieldwork opportunities
  • Hosting onboarding mixers or workshops
  • Implementing structured precontract programs that validate drive, discipline, and fit

Avoid Common Recruiting Mistakes

Agency leaders in Thailand, Malaysia and the Philippines shared pitfalls to avoid:

  • Hiring based on charm or appearance rather than grit and coachability
  • Ignoring early red flags like poor follow-up
  • Failing to articulate the long-term career path and income potential
  • Overpromising or misrepresenting the day-to-day realities of the job, which can create career mismatch and early attrition

Actionable Recommendations

  • Build a Multimode Recruiting Funnel
    Don’t rely on one source — blend digital and in-person channels with warm market referrals. Warm referrals are a great source, but need to be supplemented with other sources like social media.
  • Train Managers to Be Talent Scouts
    Managers should treat recruiting as an ongoing priority and dedicate time weekly. Provide scripts, scorecards, and incentives to support recruiting conversations.
  • Use Technology to Facilitate Success
    Consider adopting tools that assess personality and customer orientation. AI-based CRMs can also help track candidate interactions and improve follow-up.
  • Assess Personal Characteristics Early
    Both field and home office leaders said traits like grit, work ethic, and coachability are essential to success. Consider using precontract programs, simulations, or third-party behavioral assessments to gauge these factors more objectively.
  • Communicate the Mission, Not Just the Money
    Compensation matters — but mission drives commitment. Emphasize the impact agents have in helping families achieve financial security and peace of mind. Use the “Three I’s” framework from Finseca — Independence, Income, Impact — to inspire new talent. Make sure the mission is clear in the culture of the agency as well.

Conclusion

The future of life insurance distribution in Asia hinges on agencies’ ability to adapt their recruitment strategies to a digitally connected, mission-driven, and diverse workforce. By defining ideal profiles, activating referral networks, engaging prelicensing candidates, and tracking data on success, agency leaders can ensure their pipelines remain strong in a competitive market.

As Asia’s life insurance sector continues to grow and evolve, so must the way we attract its most critical resource: people.

 

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