AIA Singapore Team wins Innovator of the Year - Life Insurance at the SBR Management Excellence Awards 2018
AIA Singapore disrupted the insurance industry's after-sales service model with its digital platform POS EZ that focuses on after-sales service.
For insurers around the world, digital transformation now ranks amongst the top pressing and critical items on their agendas with global insurance consumers placing an extraordinarily high value on quality digital experiences, according to research by Ernst & Young (EY) in 2017. The survey showed that approximately 40% of consumers decide to continue a relationship with an insurer based on the quality of their overall experience. Coupled with AIA Singapore’s deep customer insights, the team focused on elevating service standards and enhancing customer experience through improved digital after-sales service.
As result, AIA Singapore Team responded to ever-rising customer expectations with POS EZ, a digital platform focused on after-sales service. With POS EZ, customers are able to engage end-to-end in an integrated digital ecosystem that can support their insurance needs throughout their respective policies’ lifetime. Because of AIA Singapore Team's efforts in its creation of POS EZ, the firm clinched Innovator of the Year for Life Insurance at the Singapore Management Excellence Awards 2018.
Whilst a simple change in address would have traditionally taken the customer two forms, a face-to-face meeting, and three working days for processing, AIA Singapore cut this down to a matter of minutes with ease for its customers. The firm’s POS EZ online platform enables AIA Singapore’s insurance representatives to facilitate a multitude of customer requests around the clock without any geographical restrictions. This is made possible by providing customers with remote authentication capabilities – a first in Singapore.
The remote authentication function allows customers to authenticate their requests via a two-factor authentication (2FA) using a personal OneKey device that is already employed for transactions in more than 50 Singapore government agencies. This feature provides an extra layer of system and physical security for all authentication requests.
AIA Singapore Team’s focus on after-sales service with the intention of ensuring exceptional services and experiences for customers throughout their life journeys has made it a significant game changer in the industry, going far and beyond expectations once customers climb aboard.
The Singapore Business Review Management Excellence Awards was held on November 22, 2018 at the Conrad Centennial Singapore. The award honours the country's most outstanding business leaders, including trailblazing individuals and teams whose initiatives have brought tangible business gains for their company's operations.
The 2018 nominees were judged by a panel consisting of Henry Tan, Managing Director at NEXIA TS; David Chew, Executive Director, Risk Advisory Deloitte Southeast Asia, Lim Wei Wei, Partner, Practice Leader, Governance, and Risk at Baker Tilly TFW; Pardeep Singh Khosa, Director of Dispute Resolution at Drew & Napier; and Yang Eu Jin, Partner and Co Head of Capital Markets Practice at RHTLaw Taylor Wessing LLP.
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