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CO-WRITTEN / PARTNER | Staff Reporter, Singapore
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AIA Singapore bags SBR International Business Awards for Life Insurance

The insurance company inspires agents and customers to better health.

AIA Singapore has been investing in technology and data to improve its processes and push the boundaries of insurance. The company is focused on empowering its more than 4,000 agents with state of the art tools and innovative solutions, to uplift their professionalism, and so that they can provide service excellence to customers.

AIA Singapore is committed to providing seamless digitalised access to information and innovative solutions so that they are equipped to help individuals and families live healthier, longer, and better lives. This commitment includes launching many innovative solutions whilst continuously working on developing many other new inventions. Because of this AIA Singapore won Singapore Business Review's International Business Award for Life Insurance.

Two technological innovations have helped AIA Singapore better serve its customers whist enhancing the productivity of its distribution channels. One of these is AIA Vitality which uses technology to inspire agents to live healthier lifestyles. It uses health data to personalise insurance premiums, so that they can journey with their customers to better health. AIA Vitality empowers the company's agency force to go beyond just being another agent by using technology to help live healthier lives. A key focus for AIA Singapore is going beyond the traditional insurance business model of just handing our customers a cheque when an unexpected event strikes the family, to also partnering with its agents and customers to boost their physical wellbeing.

The comprehensive programme draws on behavioral economics, to support, guide and incentivise AIA Vitality members to take active steps to improve their health. When integrated into insurance products, it allows for the dynamic pricing of risk over time based on people’s engagement in their health. This results in material benefits shared between the insurer (sustaining the business), policyholders (greater health and financial rewards) and society (a healthier, more productive workforce).

AIA Singapore has also developed its Next Gen Digital Agency Force using technology that boosts its agents’ productivity. It enhances processes which ultimately leads to greater customer experience. The company believes there is no one-size-fits-all product or process that fulfils all customers' expectations because of accelerating technological advances. AIA Singapore conducts deep insights from its agency force and customers to better understand the evolving needs of customers and continually develop innovative solutions for its AIA FSCs to meet their customers’ specific needs.

The SBR International Business Awards was held on May 17, 2018 at the Conrad Centennial Singapore.

This year's nominations were judged by a panel consisting of Ng Jiak See, executive director and head of corporate finance advisory at Deloitte Singapore & Southeast Asia; Choo Eng Chuan, ASEAN markets leader and partner, international and corporate tax services at Ernst & Young Solutions LLP; Toh Kim Teck, assurance partner at Foo Kon Tan LLP; and Henry Tan, managing director at NEXIA TS.

If you would like to join the 2019 awards and be awarded as one of the most outstanding international companies in Singapore, please email eleonor@charltonmediamail.com.

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