Kowloon South Manulife: Success of Insurance Professionals for the Long Run

Peter Shum founded Kowloon South Manulife (KSM) in 1982 after joining Manulife in 1970 as one of the thirty agents in Hong Kong. Nearly 40 years later, KSM had over 3500 agents, which is far beyond the size of most agencies in Hong Kong. The case illustrated how Shum and other KSM leaders respond to external threats and internal challenges over the years and develop high level of cohesion and long-term collaboration among agents in KSM. In planning beyond 2022, KSM faced challenges of increasing competition in the insurance industry in Hong Kong, rapidly developing information technology that challenges the traditional way of relying on personal relationships to do business, the difficulty to attract young talents to insurance company due to the negative image of insurance agents, etc. How can KSM prepare for these challenges to compete successfully in the industry and achieve continuous success in the long run? By learning this case, students can gain a knowledge of the internal and external challenges a professional service firm may face and how to deal with those challenges. They will gain an understanding of how professional service firms manage professionals as well as the difficulties in succeeding a long-term business.