Lai Keong is a Chartered Accountant and holds an MBA with distinction. His career spanned 30 years, spent mostly in senior management in the insurance industry, firstly as a CFO and then as a Chief Operating Officer of a Shared Services Division in one of the largest domestic Composite Insurance Company and owned by Hong Leong. Today, he is a Management Consultant and an accredited Vistage Chair.
During the tenure of his career, he has acquired expertise in strategic management, organizational development, operations management, project management, financial management and risk management.
He was involved in hundreds of strategy sessions with shareholders, and had designed and implemented key strategic initiatives. Such strategic implementations include installing new capital and ROSF thresholds for the General Insurance SBU and new incentive plans for management and staff; directed the General Insurance SBU business philosophy to a profit center focus, and changed the SBU from a decentralized to a centralized model; introduced value based management into the Life Insurance SBU; established Takaful, and a Shared Services division to support the Life, General and Takaful SBUs; acquired a retail general insurance business in Hong Kong; diversified the strategic asset allocation of the investment portfolio and championed cost reduction programmes.
He actively redesigned and implemented new organizational structures at corporate and functional levels to support changes in key strategic directions.
He had project managed multi million Ringgit worth of IT and reengineering projects. His operational experience covered a wide range of responsibilities such as IT, middle office operations, branch operations, customer service and quality management.
He has a passion for sharing his expertise throughout his career. He assisted the Accounting Standards Board in the review of the Insurance Accounting standards, trained Accountants on Insurance Accounting at the Malaysian Institute of Insurance and developed his key accounting staff to be project managers, specialists and managers. Since his retirement from Corporate Life, he consults with SMEs on best practices in management. He teaches two subjects: Strategic Management and Entrepreneurship to MBA and undergraduate students at the Malaysian Institute of Management.
He is a Competent Toastmaster as he aspires to be an accomplished public speaker. In his spare time, he travels with his wife, jogs, reads, watches movies with his children and plots his next significant contribution to society.