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Expect higher standards of culture and conduct from Financial Adviser Representatives (FA Reps) and Financial Adviser Firms (FAFs) as industry pushes ahead to build greater trust in the profession

Third set of guidelines by the Insurance Culture and Conduct Steering Committee (ICCSC) to elevate quality of financial advisory services as demand for protection, investments and savings grows

SINGAPORE – Media OutReach – 21 April 2022 – The Insurance Culture and Conduct Steering Committee (ICCSC) recently released its third paper ‘Intermediary Culture and Conduct Best Practices – Promoting Ethical Culture and Conduct in Insurance Intermediaries (Life)’ [1] as part of the Committee’s continued efforts to elevate the culture and conduct standards of the life insurance ecosystem in Singapore by focusing efforts on people, performance, and processes. The first two papers focusing on Human Resources and Corporate Governance were released in March 2022.[2]

This third paper for Life Intermediaries aims to enhance the quality of financial advisory service sector through the practices of FA Reps and FAFs by providing:

  • Guidance on the role of supervisors in setting the right tone from the top to ensure accountability from leadership that priorities are not only placed on achieving sales and revenue growth. Recommendations are aimed at strengthening industry practices in the three key areas of Supervisors’ Quality Indicators, Quality Management Framework, and Promotion Criteria for Supervisors.
  • Best practices on establishing key performance measures that effectively encourage FA Reps to provide customers with high quality financial advisory services. Guidelines focus on calibrating and standardising industry practices in the areas of FA Reps’ Quality Indicators, Rewards and Recognition on Culture and Conduct, as well as Post-Sales Services to Customers.
  • Collaboration on enhanced disclosures to customers and information sharing between insurers and non-tied Financial Advisory Firms (FAFs) to align and protect customers’ interests through regular engagements and dialogues with recommendations centred on Proper Disclosure to Customers on Products and Incentives, as well as the Sharing of Sales Quality Data to improve Culture and Conduct.

“This is an extension of the first two papers with a specific focus on intermediaries within the life insurance eco-system – from FA Reps to FAFs. Our aim is to enhance professionalism within the industry more consistently and elevate the standard of care for customers in the advisory process,” said Dr Khoo Kah Siang, Chairperson of the Insurance Culture and Conduct Steering Committee (ICCSC).

These best practices build on foundations of the Life Insurance Association Guidelines and complement current rules in the Financial Advisers Act, Insurance Act, and their subsidiary legislations.

The committee, consisting of senior leaders in the industry, was established in December 2019 to foster sound culture and strengthen standards of conduct among insurers in Singapore. [3] They are supported by the General Insurance Association of Singapore (GIA), the Life Insurance Association (LIA) and the Singapore Reinsurers’ Association (SRA).

Appendix: Infographic on Intermediary Culture and Conduct Best Practices – Promoting Ethical Culture and Conduct in Insurance Intermediaries (Life)

IC.jpg

[1] Refer to appendix for infographics with key takeaways for the Papers. All three Papers are available for download at: https://www.lia.org.sg/industry-guidelines/industry-practices/
[2] ‘Expect higher standards of culture and conduct from Singapore’s insurance industry’ (Mar 22, 2022). Insurance Culture and Conduct Steering Committee. Available at: https://www.lia.org.sg/media/3340/20220322_press-release_expect-higher-stds-of-culture-and-conduct-from-insurance-industry.pdf

Vingroup partners with Brighton College to bring UK’s “Independent School of The Decade” to Vietnam

HANOI, VIETNAM – Media OutReach – 21 April 2022 – On April 20, in Hanoi, Vingroup signed a comprehensive cooperation agreement with Brighton College, the leading coeducational school in the UK, with a prestigious education system, to establish the Brighton College Vietnam international school system. The event affirms Vingroup’s long-term vision and commitment to bring the best of the world’s education to Vietnam.

The signing ceremony of a comprehensive cooperation agreement between Vingroup and Brighton College was witnessed by representatives from Vietnam’s Ministry of Education and Training, the British Embassy in Vietnam, and representatives from the international community in Vietnam.

Under the agreement, Brighton College will recruit key positions and teachers, and consult on the design of a school curriculum that is aligned with Brighton College’s standards while still meeting national requirements. Meanwhile, Vingroup is responsible for investing in infrastructure, enrolment, and providing administrative support according to Brighton College’s standards.

Brighton College Vietnam will be culturally shaped by a tradition rich in kindness – one of the core values ​ of the Brighton College education system, which underpins its outstanding academic success. Brighton College’s experienced team of experts will also advise on the architectural design of campuses in Vietnam, and regularly participate in teacher training and supervision of educational quality.

Ms. Phan Ha Thuy, representative of Vingroup, shared: “We believe that with the cooperation with Brighton College, Vingroup will contribute to bringing the world’s top quality education to Vietnam and create favorable conditions for education. Families wishing to have access to an education do not have to send their children to study abroad before they reach adulthood.”

Mr. Graeme Owton, Executive Director of Brighton College International Schools said: “Brighton College and Vingroup share the same vision to bring a remarkable start to the lives of thousands of Vietnamese students in the 21st century. That beginning is built on the very comprehensive and trusted education that Brighton College Vietnam is pursuing.”

The first Brighton College Vietnam International School is expected to be built in Vinhomes Ocean Park, Hanoi, enrolling students from grades 1 to 13 (following the British education system) starting from August 2023. The next 6 campuses will be gradually opened nationwide.

Brighton College Vietnam is offering lifetime scholarships for students who enrol in the first year. In addition, the top 10 students who enrol will have an opportunity to attend an all expenses-paid exchange program in Brighton College UK for two weeks prior to the school’s opening.

The comprehensive cooperation with Brighton College shows the long-term vision of Vingroup in integrating the elite models of global education into Vietnam, in order to contribute to creating a breakthrough in education quality.

Before Vietnam, Brighton College UK has been awarded the prestigious “School of the Decade” accolade and has also successfully opened international schools, some of which have won prestigious awards in education, in Thailand, Singapore, and the United Arab Emirates. Brighton College students have a high level of education and are frequently accepted into the top universities in the world such as the Ivy League group (USA) and the universities of Oxford and Cambridge in the United Kingdom.

About Brighton College

Founded in 1845, Brighton College has achieved the highest achievement among all private schools in the UK in educating and training intelligent, kind, dynamic, active citizens who are positive and always curious as well as being responsible to the community. In 2021, 99% of students attained A* to B grades in their A-level programmes. In the same year, the school was recognised as the UK’s Top School for STEM subjects. Brighton College doesn’t only focus on academic excellence, but also excels in sports, art, music, and drama. Brighton College also has a close relationship with the British Royal Family: It is rumoured by the British Press that Prince William and Princess Kate are considering enroling Prince George, third in line to the throne, in Brighton College.

About Vingroup

Established in 1993, Vingroup is one of the leading multi-sector private economic groups in the region, operating in three core areas, including: Technology, Industry – Trade and Service – Social Volunteering. Not only possessing strong financial potential, Vingroup is also rich in enthusiasm and experience in the field of education and training as exemplified by the successful development of the largest private education system in Vietnam including K-12 education at Vinschool and Vietnam’s first elite university, VinUni. Vinschool currently operates 39 campuses in Hanoi, Ho Chi Minh City, Hai Phong, Thanh Hoa and Ha Tinh, with a scale of 36,000 students. Meanwhile, VinUni has enrolled and trained two courses with about 500 students from 11 countries. Learn more at: https://www.vingroup.net

#Vingroup

The issuer is solely responsible for the content of this announcement.

U.S. Supports Rehabilitation Workforce in Lao PDR

AMB Haymond Launch the Training Facility and Handed Over the Ceiling Hoist-2.

U.S. Ambassador to Lao PDR Dr. Peter M. Haymond joined Vice Minister of Health Dr. Sanong Thongsana on 20 April to officially launch the Continuous Professional Development Training Facility for Health Professionals at the Center for Medical Rehabilitation (CMR). 

Laos to Host SEA Games in 2029  

Grand opening 25th SEA games in Laos.

Laos has been nominated to host the 38th Southeast Asia Games in 2029.

SDS School of Entrepreneur Streamlined Analysis of YouTube Entrepreneurship Science Free Online Courses to Create Passive Income System

TAIPEI, TAIWAN – Media OutReach – 21 April 2022 – The ever-changing global economic situation requires a fast and flexible response. SDS School of Entrepreneur, the entrepreneur business school simplifies online entrepreneurial thinking and patterns, strives to cultivate entrepreneurial mindsets through the selfless sharing by professional tutors. “Lowest cost, fast entrepreneurship” is the mission of SDS School of Entrepreneur for building a personal automated passive income system for users to create wealth.

Core SEO Skills & Secrets Teaching Everyone Can Make Famous Videos!

SDS School of Entrepreneur introduces a good command of core SEO skills to users, which greatly increases the exposure of the video on YouTube and even appears on Google. The course involves the simplest video production methods to break the myth of complicated video design and directly offers users an elementary and effective model to think about the video theme and title, also to produce an exquisite and attractive video cover. The core part of the course that will never be skipped is sharing the equations for drafting video content and writing manuscripts. Just to follow the framework and system taught by SDS School of Entrepreneur and everyone can produce a video content with over 10,000 views.

There are many actual students who achieved excellent grades in just 3 months, and their famous videos on YouTube have reached over 10,000 views.

The course content and technique can be applied to YouTube entrepreneurship or any media business. The interpersonal skill will be improved with copywriting training and uplifting speechcraft. The market positioning will be directly analysed by the tutorial system so the proven business model can be directly applied by the users. A Facebook group “entrepreneurial boss” is composed in the lecture, where the first-hand information about starting a business and making money can be exchanged with each other, also support from various parties is available allowing users to easily achieve their entrepreneurial plans.

Reproducible Operating System to Create Passive Income

The unique feature of SDS School of Entrepreneur is a system and framework that can be replicated, which allowing users to earn income quickly at the lowest cost. Under the premise of high-quality video content, the advertising fees earned by YouTube’s entrepreneurship not only provide stable income but also create opportunities to monetize traffic and click rate. SDS School of Entrepreneur builds a replicable business model for users. The system also operates automatically and earns income just like a computer. Users just need to follow the guidelines provided, and the systematic content will greatly improve the learning efficiency.

About SDS School of Entrepreneur

The founder of the post-90s generation, SDS, is known as the youngest rich dad in Asia who owns more than 300,000 subscriptions on YouTube and hit a record of 10,000 subscriptions in three days. He has even helped more than 10,000 people improve their financial situation and increase their income in Taiwan, Malaysia, Mainland China, Hong Kong, the United States, etc. In the age of professionals that everyone trying to be, SDS School of Entrepreneur believes that entrepreneurship can create wealth while also making life meaningful.

Free Course:
YouTube:
Instagram:
Facebook:

#SDSSchoolofEntrepreneur

The issuer is solely responsible for the content of this announcement.

Laos Cabinet and National Assembly Meet to Discuss Economic Woes

Laos Cabinet and National Assembly Meet to Discuss Economic Woes
Prime Minister Phankham Viphavanh (left) and Xaysomphone Phomvihane, President of the National Assembly.

Cabinet ministers and National Assembly members held a special meeting yesterday to discuss the country’s growing economic problems.

Ordinary Folk raised $5M Pre-Series A to bring access to personalized, quality telehealth experience to men and women’s health in a $10B market across Asia

Strengthen its development in Hong Kong by focusing on expanding its product, growth and design team in the market

  • Ordinary Folk, a digital health experience that engages and connects patient care across its service lines, secures $5M Pre-Series A by Monk’s Hill Ventures.
  • The funding will be used to accelerate hiring talent to build a differentiated CX in healthcare using tech, expand in new markets (Hong Kong & other Asian cities), while continuing to scale in Singapore.
  • Its full-stack telehealth platform integrates its two consumer platforms (Noah and Zoey), distributed compliant medical network, electronic medical record (EMR), digital prescriptions, cloud pharmacy, and last-mile fulfillment.

HONG KONG SAR – Media OutReach – 21 April 2022 – Ordinary Folk, a digital health technology startup that makes telehealth services easily accessible to patients across Asia, based in Singapore, today announced its Pre-Series A funding of USD 5 million.

“Our mission is to use technology to simplify the patient experience. 60% of total health expenditure in Southeast Asia is out-of-pocket making treatments for many prevalent health conditions very expensive. We realized the need for a frictionless experience from discovery to delivery. Which is why it was essential for our digital health platforms to create access to doctors and medical solutions for sexual health, hair care, fertility, mental health and overall wellbeing together. We’re committed to strengthening our existing engineering, product and design teams as well as bringing on board the right people to pilot our expansion into key markets including Hong Kong, while continuing to scale in Singapore,” said Sean Low, founder of Ordinary Folk.

The funding will be used to accelerate hiring talent to build a differentiated CX in healthcare using tech, expand in new markets (Hong Kong & other Asian cities), while continuing to scale in Singapore. The company plans to grow its team and hire top engineering talents in Vietnam, product, growth and design across the Singapore and Hong Kong markets.

Ordinary Folk also plans to continue to expand its B2B partnerships with companies to provide Noah and Zoey services to its employees.

“Millions of people across Asia find it difficult to access proper treatment and care for health conditions that have tremendous taboo attached. Through Noah and Zoey, Ordinary Folk is uniquely positioned to bring in value through the consumer journey of healthcare services, creating an ecosystem where patients have access to medical experts and products, and a wide range of treatment options. Sean and his team have strong digital and branding DNA to grow the business to new heights, and we are happy to be partnering with them,” said Peng T. Ong, Co-founder and Managing Partner, Monk’s Hill Ventures.

As a full-stack telehealth platform, Ordinary Folk integrates two platforms:

  • Noah: Launched in 2020, Noah is a men’s telehealth platform that integrates different areas of care including sexual health, mental wellness, hair care, weight management, creating the right tools for a better, more seamless patient experience.
  • Zoey: Less than a year later, Zoey was also launched as a telehealth platform where women can access sexual wellness, fertlility, mental health and wellbeing medical solutions in a judgement-free space.

The aim is to help people across Asia lead healthier lives, removing high costs and accessibility as barriers to quality healthcare.

Since its launch in 2020, Ordinary Folk has seen revenue growth up by over 130% and attracted over a million unique visitors. Its platforms, Noah and Zoey, help users with cutting down on scheduling appointments, long waits at clinics, encountering tough questions in-person, and instead create a patient-doctor-treatment process that can be accessed from the privacy and comfort of one’s home.

In addition, Ordinary Folk is also committed to expanding their growth, design and marketing teams. Its team currently comes from some of the most creative names in the region – Grab, Ogilvy, DDB, BBH, TBWA.

Tuan Pham, formerly at Grab, who leads the tech team from Vietnam, said, “Coding is not just about building digital products. It’s about engineering change, and for us, on how we can improve the patient-doctor experience to make an impact on the lives of people across Asia.”

About Ordinary Folk

At Ordinary Folk, we’re reimagining the building blocks of healthcare in Asia. Bringing access to quality healthcare, people engage with medical experts and receive treatment online and at home. The company has inclusive, judgement-free telehealth platforms, Noah and Zoey, for men’s and women’s healthcare, which provide service and support for conditions across sexual wellness, hair care, fertility, mental health and overall wellbeing.

#OrdinaryFolk #ofnoahhk

About Monk’s Hill Ventures

Founded in 2014 by entrepreneurs Peng T. Ong and Kuo-Yi Lim, Monk’s Hill Ventures (‘MHV’) is a venture capital firm investing in early-stage technology startups, primarily in Series A, in Southeast Asia. Backed by institutional investors and family offices worldwide, MHV works with exceptional entrepreneurs who use technology to improve the lives of millions of people in the region. Find out more at .

World’s Longest Glass Bridge Near Completion in Vietnam

Bach Long Glass Bridge in Vietnam
Bach Long Glass Bridge in Vietnam will be the longest in the world.

On 30 April, Vietnam’s national holiday of Reunification Day, a glass bridge spanning more than 630 meters will open to tourists.