Last Saturday morning, I attended the inaugural workshop organized by DIY Insurance.

When Providend first set up DIY Insurance, they wanted a way to connect with their audience better, while at the same time empower folks that prefer to take a more active approach in their insurance and investment planning.

These workshops provide financial education on insurance products so that members can have a better understanding for their insurance planning. I was hoping that I can get some helpful learning points from the 3 hour event.

Why DIY Insurance was set up

The event started off with Christopher Tan,  the CEO of Providend explaining about how MAS undertake an financial advisory industry review of the life insurance industry. They pose as mystery shoppers to evaluate the competency, standard of advice provided by financial advisors.

The evaluation of advice and competency shocked the evaluators. In one company its very obvious …