AIA Singapore clinches Life Insurance Award in 6th SBR International Business Awards
AIA Singapore bagged the Life Insurance Award during the recently concluded Singapore Business Review International Business Awards.
This year marks AIA’s 100th year in Asia, celebrating the life insurer’s business of providing financial security for every life stage of its customers.
The future of insurance will become more intricately personalised to suit the individual, and as technology empowers which necessitates the shift towards more tailored policies as well as for insurers to deepen its engagement with customers to remain competitive.
AIA Singapore implemented a deliberate digital transformation strategy that only offers the best for the company’s clients, partners, and agents.
Its Mission AIA campaign promotes its digital transformation strategy of marrying both high tech and high touch investments, producing a customer-centric digital ecosystem that delivers optimised operational efficiencies that deliver greater value for customers and distributors and improved brand health.
To implement this strategy, AIA empowered its agents with iResource – a first-in-market pre-sales toolkit for agents to engage with clients in a more personalised, interactive and fun way to drive sales and boost agents’ productivity levels. With iResource, AIA Singapore broke down the cumbersome and complicated process of selling by leveraging gamification – not only does the app provide interactive e-activities where clients would learn about key financial planning concepts and features of our different products in a quick and fun manner, the platform also personalises sales materials to make them more relevant for each client.
Agents are also armed with POS EZ, an award-winning digital tool revolutionising after-sales service across the insurance industry.
POS EZ features remote authentication ability that allows agents to facilitate a multitude of customer requests round-the-clock.
In addition, AIA is a pioneer in adopting artificial intelligence in Singapore’s life insurance sector. Its humanoid Pepper takes care of simple yet time-consuming general enquiries, including details on customers’ policy loans and the submission on policy transaction requests.
Customer service colleagues can now focus on more complicated queries and transactions in a more personal and high-touch manner.
Besides utilising modern technology to their advantage, AIA Singapore is the first insurance organisation to partner the Wealth Management Institute (WMI) of Nanyang Technological University, Singapore (NTU Singapore), Asia's centre of excellence for wealth management education and research, to provide AIA Personal Wealth Managers (AIA PWMs) the same level of training and IBF certification similar to that of a private banker.
AIA prides itself in being the only insurer that equips insurance agents in Singapore with certification that matches the country’s private banking standards, thanks to its partnership with WMI.
Apart from upholding high-calibre talents who can better serve high-net-worth clients, the AIA-WMI partnership follows through with Singapore’s vision of developing future-ready talents.
As for its clients, AIA Singapore remains an uncompromising trailblazer when it comes to customers’ health and quality of life.
Kickstarting mental health insurance coverage and conversations, AIA Singapore also introduced Singapore’s first-ever insurance policy to provide coverage for mental conditions. The AIA Beyond Critical Care policy also stands out for including coverage for five rediagnosed or recurred CIs, which are amongst the leading causes of death and top disease burdens in Singapore.
Meanwhile, to tackle rising healthcare costs and medical inflation, AIA Singapore has a comprehensive healthcare proposition in place – an exclusive partnership with Medix to become Singapore’s first insurer that provides Personal Medical Case Management services to customers. This partnership aligns with AIA’s first-in-market AIA Quality Healthcare Partners (AQHP) network of over 400 qualified medical specialists.
AIA Singapore recorded strong performance in 2018, achieving sustained business success reflected in outstanding growth in both Value of New Business (VONB) and Annualised New Premium (ANP).
The International Business Awards, presented by Singapore Business Review, was held last 11 July 2019 at Conrad Centennial Singapore.
This year’s nominations were judged by a panel consisting of Henry Tan, Managing Director, NEXIA TS; Choo Eng Chuan, EY Asean Markets Leader and Partner, International and Corporate Tax Services, Ernst & Young Solutions LLP; Ng Jiak See, Executive Director, Head of Corporate Finance Advisory, Deloitte Singapore & Southeast Asia; and Toh Kim Teck, Assurance Partner, Foo Kon Tan LLP.
Check out the event photos during the awards night here.
If you would like to join the 2020 awards and be acclaimed for your company’s exceptional technology innovations, please email Eleonor Angeles at firstname.lastname@example.org