Hong Kong’s insurance services market has grown to trust AMG FINANCIAL GROUP for more than just its personalized service approach. ARNOLD YEUNG, Chairman & CEO speaks on the importance of exceeding customer’s expectations.
The recent opening of the sprawling new office of AMG Financial Group in Hong Kong says a lot about Hong Kong’s financial services industry and the market it serves. It also tells the tale how AMG grew to arguably one of the biggest one-stop-shop for insurance and investment products in Hong Kong. If this doesn’t sound impressive enough consider the sea of competition the firm faces which includes an array of banks and the largest number of insurance brokers in Hong Kong and in Asia, if you factor in portability from cross(ing)-border clients. If the proof is in the pudding then AMGs growth and expansion is indicative of market applause.
“THE COST OF MEDICAL CARE IS ALWAYS on the rise and; misfortune is not always the neighbour’s visitor. We understand this and that’s what makes us a choice partner for the industry and the customer.” – Arnold Yeung
Market Faith
For its understated founder, applause comes from within. “We are only as important as the customers thinks we are. Our value comes from helping others to help themselves,” says Arnold Yeung, for whom the real business is not about products and/or services. It is about “doing the right thing.”
Yeung’s tenacity and patience paid off as AMG grew for over more than a decade, on the back of client referral business. “Providing the right information and advise is what helped us grow to win market faith and the respect of the industry,” says Yeung.
Far from being the only insurance broker/financial advisor in Hong Kong, AMG is yet an example of the ‘wisdom of quality service.’. With an increasing number of long-term customers, AMG enjoys the market’s trust which is why the world’s leading insurers make their products available at and through AMG.
“Our role is to act in the customer’s best interest. It is the only way forward if you are looking for long term growth in a service-savvy and highly competitive “What we bring to the table is the ability to listen, understand the customer’s requirements and use our knowledge and experience to present the most suitable options.” THE COST OF MEDICAL CARE IS ALWAYS on the rise and; misfortune is not always the neighbour’s visitor. We understand this and that’s what makes us a choice partner for the industry and the customer. – Arnold Yeung market. Reputation of quality is the cornerstone of a responsible company and matters most when you serve a market where relationships matter and referrals are priceless. What we bring to the table is the ability to listen, understand the customer’s requirements and use our knowledge and experience to present the most suitable options. What we recommend is open to challenge because we know the reasons backing our recommendations. This personalized service is hard to get and that’s the niche we have filled since day one.”
In Who’s Best Interest?
“Picking the right people, training them and guiding them to pick the right solution for each individual customer is what’s we’ve focused on since the very first day AMG opened its doors. Given the current economic situation our industry faces talent issues and the market itself needs better insurance products as protection from uncertainty. With the rising cost of medical care our aging population needs better care and our role is to encourage the customer to take action and not just admit to the need and do nothing,” Yeung says, adding that the sophisticated Hong Kong market is today more aware of options and has the resources to go shopping. “Our role is to draw their attention to the fine print and ensure they know why we are recommending the products that match their needs. It is when we walk them through the choices and then show them why we pick the products for them, that’s when they see how customer centric we are. We also don’t adopt the ‘love them and leave them’ approach. We stay with them at every step of the way to ensure that commitments made to them are kept, just as they would expect.”
Partner of Choice
“It is in the immediate and long term interest of the industry, the market and Hong Kong that the customer and the insurance industry work with fairness and integrity. It makes good business sense and upholds Hong Kong as a reputed financial city. The way to achieve this is to operate with transparency and a willingness to invest time and effort to educate the market and inspire the industry,” Yeung says.
Of his recent expansion, he says: “it’s a mistake to take market applause for granted. You can’t rest on your laurels simply because you cannot put people’s needs ‘on hold’. There is a constant urgency for protection since, as I mentioned earlier, the cost of medical care is always on the rise and; misfortune is not always the neighbour’s visitor. We understand this and that’s what makes us a partner of choice for the industry and the customer,” concludes Yeung.
For additional information please visit www.amgwealth.com
Hong Kong’s Business Leaders share market and interest intelligence in the pages of HKMVC 2017
