IN THE KNOW
Ketchup perils, inspiring millennials, crazy-expensive shrimp
As a trusted Insurance Intermediary in Kuala Lumpur Malaysia we come across curious, weird and wonderful stories. Here are three curious tales from your Insurance Intermediary in Kuala Lumpur Malaysia to cheer up your day.
How do we inspire millennials to come and work in the insurance sector? You’ll see. There’s a tongue-in-cheek campaign on the loose informing people about the risks behind Heinz ketchup. And sometimes something as tiny as a shrimp can cause absolute havoc in the cargo insurance claim cost world. Here’s the news from us, to you. OH MY GOD... stay AWAY from the ketchup!
Ketchup Chaos: Introducing the World’s First Ketchup Insurance Policy
Apparently, 48% of consumers have ketchup accidents. Or so says the head of marketing at Kraft Heinz MEA, which has dreamed up a wonderfully eccentric marketing campaign in partnership with the MyBenefits platform, the UAE’s best-loved employee benefits app.
The idea is to ‘make policyholders whole’ after they’ve suffered terrifying ketchup-driven accidents that have ruined their clothes and furniture or even spattered their pets. The result is the world’s first ketchup insurance policy, created as a bit of a joke to inspire the UAE market.
The mock-policy offers cover for 57 types of ketchup-related horrors including accidentally sitting on a sachet of ketchup so it explodes and discovering dried, crusty remains of ketchup on your clothes after an ‘unfortunate squeeze’. This is insurance so there are some exclusions, of course, including ‘other condiments’. Intentional acts of ketchup disaster aren’t covered either, and if you don’t submit your claim within 57 hours it’ll be rejected.
In real life, UAE Heinz ketchup-lovers will be able to claim compensation via a collection of rewards, including home cleaning, laundry assistance, handyman services, and spa treatments via MyBenefits.
We like their style!
How to Inspire Millennials to Join the Insurance World?
There’s a lot of talk about millennials, a generation so different from previous ones that they’re changing the world. They’re certainly changing the world of work, with special millennial representatives being sent to companies to educate bosses about what the generation expects. It’s no surprise Property Casualty 360 has been delving deep to know more.
We need to replace the current generation of insurance leaders and employees as the Boomer generation retires. Because every generation is different, gaining their interest requires focus and careful thought. So what do younger generations want from their career? The job site Indeed says millennials have strong values and want meaningful work in a setting that isn’t hierarchical. They appreciate mentorship and want to enjoy close relationships with their bosses. They enjoy change, like having to adapt to it, and prefer to be task rather than time-oriented. A passion for learning drives them, they demand recognition, and they offer a free-thinking creative outlook enhanced by strong teamwork and plenty of social interaction.
Luckily the insurance industry thrives on teamwork, demands constant learning, appreciates creativity and is results-oriented. Insurance agency life can be flexible time-wise and there’s always the chance to do good through work that customers value. And all this should make insurance pretty attractive to millennials. Basically, it’s a matter of finding ways to let the generation know all this, inspiring them to join us. Right now the oldest millennials are mid-career and the youngest are involved in changing their career paths. It looks like millennials are ready for us, and we’re certainly ready for them!
So how about Generation Z? Those born between 1997 and 2010 are an unusually diverse bunch, well-educated people who value independence, are pragmatic, and like millennials prefer non-hierarchical leadership. They’re confident in questioning authority and don’t like rigid rules. As self-directed people who appreciate authenticity, they’re even more digitally-minded than millennials. These people are also perfect for insurance agency work, where independence is an essential attribute. To attract the best people companies like ours need to consider diverse working styles, provide ongoing education, let people take responsibility, let them experiment, and provide a workplace with a strong, authentic culture and values. All this means our sector creates fresh, new and exciting recruitment messages.
Shrimp-led Perils at Sea
As a popular insurance intermediary in Kuala Lumpur Malaysia, we know the world’s oceans and seas are very beautiful, but they’re also perilous. We love this story from the West African Coast, told by the UK P&I Club. The moral of the story? Innocent-seeming interactions can have unforeseen consequences. When a local fishing boat approached a ship near the Port of Lome in Togo offering their catch of fresh shrimp, the crew were thrilled. They bought 7kg of the shrimp in exchange for some scrap metal. Sadly it was classified as a crime under the Togolese Customs Code, leaving the captain accused of smuggling by sea vessel. The ship was forced to stay in Lome to face criminal proceedings that could have led to the Master and crew’s imprisonment for as long as three years and a whopping fine of 87 million Euros.
How much!? Apparently, local laws let the authorities charge as much as four times the ‘market value of the assets involved in smuggling’, four times the total value of the fishing boat and ship. Luckily the ship owner managed to negotiate the fine down dramatically but it cost them a fortune in legal fees and costs. This isn’t the only incident of its kind. Lome’s Customs officials have hit other ships with vast fines for strange reasons. It just goes to show, while you might think you’re simply buying a snack for your mates you could in fact end up in terrible trouble. As marine insurance coverage experts, if someone approaches your ship with something tasty for sale, we recommend you steer clear.
Stick with the Professionals.
We’re always pleased to hear from people and businesses wanting to protect and secure their future with insurance, and we’ll always give you a warm welcome. How can we help you today?
Sources:
https://www.propertycasualty360.com/2024/02/16/the-handoff-making-agency-life-more-appealing-to-upcoming-generations
https://www.propertycasualty360.com/2024/03/15/heinz-debuts-insurance-coverage-for-ketchup-related-perils/
https://www.shippingandfreightresource.com/costliest-shrimp-in-the-ocean-a-cautionary-tale-for-ships-crew/