AIA Sin­ga­pore: En­hanc­ing cus­tomer ex­pe­ri­ence through dig­i­tal trans­for­ma­tion

AIA Sin­ga­pore’s game-chang­ing dig­i­tal af­ter-sales ser­vice - - POS EZ, al­lows cus­tomers to au­then­ti­cate re­quests with­out hav­ing to meet up with an in­sur­ance rep­re­sen­ta­tive.

Singapore Business Review - - NEWS FROM SBR.COM.SG -

An en­light­en­ing dis­cus­sion with Ms Melita Teo, Chief Op­er­a­tions Of­fi­cer of AIA Sin­ga­pore, show­cases POS EZ, the first-in-in­sur­ance mar­ket in­no­va­tion which al­lows cus­tomers to au­then­ti­cate their re­quests with­out hav­ing to meet up with an in­sur­ance rep­re­sen­ta­tive through a re­mote au­then­ti­ca­tion func­tion, any­time and any­where in the world.

Ac­cord­ing to re­search con­ducted by EY in 2017, around 40% of global in­sur­ance con­sumers place a high value on qual­ity dig­i­tal ex­pe­ri­ences. This tide of dig­i­tal trans­for­ma­tion is lead­ing the in­sur­ance in­dus­try to re­think how they are adapt­ing their prod­ucts and ser­vices to meet their cus­tomers’ chang­ing needs.

Stay­ing one step ahead

With this in mind, AIA Sin­ga­pore launched POS EZ in April this year. Melita ex­plains, “We put our cus­tomers at the heart of ev­ery­thing we do. The ma­jor­ity of the tech­no­log­i­cal ad­vance­ments and in­vest­ments in the in­sur­ance in­dus­try over the years have largely fo­cused on build­ing ro­bust dig­i­tal plat­forms for new busi­ness ap­pli­ca­tions. Af­ter-sales ser­vice, on the other hand, has re­mained on the back­seat of most com­pa­nies’ dig­i­tal trans­for­ma­tion ef­forts.”

This gave AIA Sin­ga­pore the op­por­tu­nity to cre­ate POS EZ, which is fo­cused on af­ter­sales ser­vice that en­gages the cus­tomer end-to-end in an in­te­grated dig­i­tal ecosys­tem that will sup­port their in­sur­ance needs through­out their pol­icy’s life­time.

Melita elab­o­rates, “POS EZ pro­vides ben­e­fits to cus­tomers on two lev­els: con­ve­nience and se­cu­rity. With the avail­abil­ity of re­mote au­then­ti­ca­tion func­tions, cus­tomers can now cut their trans­ac­tion pro­cess­ing times ex­po­nen­tially. For in­stance, cus­tomers can now make a change in ad­dress in a mat­ter of min­utes. Pre­vi­ously, this sim­ple trans­ac­tion would re­quire var­i­ous forms to be filled up, a meet­ing with their in­sur­ance rep­re­sen­ta­tives, and days to process.”

“The POS EZ plat­form also low­ers the propen­sity for er­rors in in­putting in­for­ma­tion with the Smart Forms fea­ture, which can af­fect the qual­ity of ser­vice that cus­tomers can get with­out de­lay. POS EZ prompts the in­sur­ance rep­re­sen­ta­tives when there’s out­stand­ing in­for­ma­tion re­quired for the sub­mis­sion, re­duc­ing the need for back-and-forth ad­min­is­tra­tion,” she ex­plains.

Since its launch, AIA Sin­ga­pore has al­ready seen more than 10% of the pro­cess­ing re­quests con­verted from the tra­di­tional pa­per for­mat to POS EZ. This util­i­sa­tion is set to in­crease as more ser­vice re­quests are added to POS EZ over the next few months.

Dig­i­tal se­cu­rity

Melita also high­lights AIA Sin­ga­pore’s un­wa­ver­ing com­mit­ment when it comes to se­cu­rity in the new dig­i­tal era. “Our on­line plat­form al­lows cus­tomers to au­then­ti­cate their re­quests through a two-fac­tor au­then­ti­ca­tion sys­tem us­ing a per­sonal Onekey de­vice.”

She adds, “On top of be­ing an added con­ve­nience, cus­tomers can rest as­sured that their au­then­ti­ca­tions are se­cure, as this Onekey de­vice is al­ready em­ployed for trans­ac­tions with al­most 60 govern­ment agen­cies in Sin­ga­pore.”

Dig­i­tal trans­for­ma­tion jour­ney

Melita en­thu­si­as­ti­cally re­counts the be­gin­ning of AIA Sin­ga­pore’s dig­i­tal trans­for­ma­tion jour­ney: “One of the first cus­tomer-fac­ing ef­forts to­wards dig­i­tal trans­for­ma­tion that we un­der­took was the launch of ipos in 2012. This was fol­lowed by the launch of the first-in-mar­ket Dig­i­tal Un­der­writer that gives an un­der­writ­ing de­ci­sion al­most in­stantly, as well as the

AIA ecare App for the con­ve­nience of cus­tomers by en­gag­ing them with dig­i­tal tools.”

AIA Sin­ga­pore’s dig­i­tal trans­for­ma­tion jour­ney con­tin­ues with POS EZ, which en­ables ser­vice ex­cel­lence and deep en­gage­ment with cus­tomers, any­time and any­where, empowering them to live health­ier, longer and bet­ter lives.

“Cen­tral to AIA Sin­ga­pore’s dig­i­tal trans­for­ma­tion ef­forts is the de­sire to pro­vide cur­rent and prospec­tive clients with the most cus­tomer cen­tric ex­pe­ri­ence en­abled by tech­no­log­i­cally ad­vanced propo­si­tion,” says Melita.

“Rapidly de­vel­op­ing tech­nol­ogy has brought about the in­evitabil­ity of ever-ris­ing cus­tomer ex­pec­ta­tions. Our cus­tomers to­day ex­pect un­prece­dented lev­els of ser­vice de­liv­ery.”

Ac­cord­ing to Melita, “POS EZ is a cru­cial com­po­nent of the dig­i­tal ecosys­tem that AIA Sin­ga­pore has been build­ing to pro­vide a uni­fied ex­pe­ri­ence across our many cus­tomer touch points.” The AIA dig­i­tal ecosys­tem is a game-changer which in­creases the ef­fi­ciency of the com­pany’s in­sur­ance-pur­chas­ing process, al­low­ing clients to ob­tain life in­sur­ance cov­er­age in a mat­ter of hours.

“Our dig­i­tal trans­for­ma­tion ef­forts are all geared to­wards one goal: mak­ing AIA Sin­ga­pore the most cus­tomer cen­tric dig­i­tally en­abled life in­surer,” Melita adds.

Achiev­ing this goal of dig­i­tal trans­for­ma­tion ul­ti­mately ben­e­fits the cus­tomer, and Melita con­cludes, “With form-fill­ing and pa­per push­ing now a thing of the past, face time can now be spent on re­la­tion­ship build­ing and strate­gic con­sul­ta­tions, en­abling high hu­man touch back to our cus­tomer in­ter­ac­tions.”

“AIA Sin­ga­pore has al­ready seen more than 10% of the pro­cess­ing re­quests con­verted from pa­per to POS EZ.”

Cus­tomers can now make a change in ad­dress in a mat­ter of min­utes with the POS EZ plat­form.

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