Kuala Lumpur, 29 May 2024 – Liberty General Insurance (Liberty) is proud to announce its collaboration with the Financial Industry Collective Outreach (FINCO), which has delivered sustainable and impactful educational initiatives benefiting underprivileged children and youth since 2017. This marks a significant milestone in promoting comprehensive financial literacy, including a pioneering focus on insurance literacy for secondary school students.
Through this collaborative effort, Liberty and FINCO will integrate essential insurance literacy content into FINCO’s existing financial literacy programme. The initiative aims to highlight the critical importance of insurance knowledge in building a solid foundation for financial well-being.
“Insurance literacy is often overlooked, but is a fundamental component of financial literacy,” remarked Puneet Pasricha (Pasha), Chief Executive Officer of Liberty General Insurance Berhad. “Understanding insurance products and their benefits is essential for younger generations to protect themselves, their families, and their assets against unforeseen risks in an ever-changing future where new emerging risks are constantly arising.”
The programme includes a Focus Group designed to capture insights into students’ understanding and perception of insurance. The insights from the Focus Group will be incorporated into FINCO Ringgit Rules workshops, which will be introduced as sessions that help encourage students to explore the values and mindsets towards personal finance management.
As part of the entire initiative, students will gain valuable insights into various insurance concepts, while also understanding the fundamentals of responsible financial management. Liberty employees will volunteer to co-facilitate in delivering the workshops across selected high schools in Malaysia.
By actively engaging in initiatives that promote both financial and insurance education, Liberty seeks to empower individuals and communities to achieve greater financial resilience and security. The FINCO partnership also underscores Liberty’s commitment to social responsibility and its dedication to building a more financially literate society.
