AIA seeks to plug pro­tec­tion gap

The Phnom Penh Post - - BUSINESS - Kwanchai Rungfapaisarn

IN­SUR­ANCE gi­ant AIA Group sees huge po­ten­tial for growth in Asia due to the re­gion’s huge pro­tec­tion gap and low pen­e­tra­tion of life and health in­sur­ance, ac­cord­ing to the group’s chief mar­ket­ing of­fi­cer Stuart A Spencer.

“At AIA, we see tremen­dous growth po­ten­tial across the re­gion, driven by a huge pro­tec­tion gap. In a coun­try like Thai­land, there is low pen­e­tra­tion of in­di­vid­ual life and health in­sur­ance,” said Spencer.

“We see a big op­por­tu­nit y to close t he pro­tec­tion gap. AI A has a tremen­dous agency force in Thai­land. In ad­di­tion, at t he end of last year, we signed a 15-year dis­tri­bu­tion con­tract with Bangkok Bank to sell more pro­tec­tion prod­ucts through t heir branches,” said Spencer, adding that Bangkok Bank it­self has more than 1,000 branches through­out Thai­land.

New prom­ise

AI A’s new brand prom­ise “Health­ier, longer, bet­ter lives” was recent ly in­tro­duced in 18 mar­kets across the Asia Pa­cific re­gion. “It un­der­pins our fo­cus on be­ing a pur­pose-led busi­ness, and sup­ports our ef­forts to ad­dress health prob­lems re­sult­ing from an in­crease in lifest yle-re­lated dis­eases,” Spencer said.

“We are very con­cerned about the level of life­style dis­eases in Thai­land. About 73 per cent of all dis­eases in Thai­land are non-com­mu­ni­ca­ble,” he said.

“AI A Vita lit y is a so­lu­tion to help our cus­tomers to live healt hier, longer and bet­ter lives. If you ta ke bet­ter care of your­selves, AI A will ta ke bet­ter care of you.

“It is all about chang­ing the be­hav­iour of our cus­tomers, and we have a very so­phis­ti­cated re­ward plat­form de­signed by AIA to help them change their be­hav­iour,” added Spencer.

He said some 250,000 Thai peo­ple were al­ready en­joy­ing the ben­e­fits of AIA Vi­tal­ity.

“This is a game changer in the Thai in­sur­ance mar­ket, as no­body but only AIA has it,” said Spencer.

He said AIA has 32 mil­lion cus­tomers in 18 Asian coun­tries.

“We have also launched the ‘What’s Your Why?’ cam­paign, led by our global am­bas­sador David Beck­ham. His role is to be a mo­ti­va­tor, en­cour­ag­ing peo­ple on why they should live a healthy life, and to use this ‘why’ to change their be­hav­iour, im­prov­ing their health through proper eat­ing, reg­u­lar ex­er­cise, and good liv­ing.

“Us­ing the in­sight that children are a pow­er­ful mo­ti­vat­ing force for peo­ple to live health­ier lives, we have launched the ‘What’s Your Why #2’ cam­paign, which fea­tures Beck­ham shar­ing his ex­pe­ri­ences on how to be healthy with kids across Asia. We hope the cam­paign will in­spire peo­ple through­out the re­gion to re­ally con­sider how small changes can make a big dif­fer­ence in im­prov­ing their health and well-be­ing,” Spencer said.

“Work­ing with AI A, I have had the op­por­tu­nit y to v isit many coun­tries around Asia and I am so pleased to be back in Thai­land,” said Beck ham. “I rea lly be­lieve t hat small changes, like hav ing a healt hy brea k fast to start each day and get­ting good sleep, can have a pos­i­tive im­pact and help us a ll to live healt hier, longer, bet­ter lives.”

AIA Thai­land on Satur­day cel­e­brated its 80th an­niver­sary and re­newed its com­mit­ment to en­gage cus­tomers and the com­mu­nity more ef­fec­tively to pro­mote an ac­tive life­style among Thais.

AIA Thai­land CEO Tan Hak Lek said AIA Thai­land has pro­vided life­long in­sur­ance pro­tec­tion to its cus­tomers since 1938, to­gether with an as­pi­ra­tion to im­prove the stan­dard of liv­ing of Thais.

“We have be­come Thai­land’s lead­ing and most-trusted life in­sur­ance com­pany and play an im­por­tant role in the de­vel­op­ment of the life in­sur­ance in­dus­try.

Many fac­tors have con­trib­uted to our suc­cess, in­clud­ing prod­ucts and ser v ices. With more than 5.5 mil­lion in­div idua l cus­tomers and over 1.1 mil­lion par­tic­i­pat­ing mem­bers in our group in­sur­ance schemes in Thai­land, we of­fer a wide range of prod­ucts and ser v ices to meet the ever-chang­ing needs of Thais t hrough­out t heir life stages. AI A a lso de­vel­ops new and in­no­va­tive prod­ucts and ser v ices to en­hance our cus­tomers’ fi­nan­cial se­cu­rit y and prov ide them with peace of mind,” he said.


AIA Thai­land CEO Tan Hak Lek (left), AIA Global Am­bas­sador David Beck­ham (cen­tre) and AIA Group chief mar­ket­ing of­fi­cer Stuart A Spencer (right) at the launch of its new brand prom­ise.

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