AIA Sin­ga­pore of­fers an award win­ning after sales in­surance so­lu­tion: POS EZ

AIA Sin­ga­pore Team re­cently won In­no­va­tor of the Year - Life In­surance at the SBR Man­age­ment Ex­cel­lence Awards 2018 for their new dig­i­tal plat­form POS EZ.

Singapore Business Review - - INNOVATOR OF THE YEAR - LIFE INSURANCE -

Whilst a sim­ple change in ad­dress would have tra­di­tion­ally taken the cus­tomer two forms, a face-to­face meet­ing, and three work­ing days for pro­cess­ing, AIA Sin­ga­pore has cut this down to a mat­ter of min­utes. The firm’s POS EZ on­line plat­form en­ables AIA Sin­ga­pore’s in­surance rep­re­sen­ta­tives to fa­cil­i­tate a mul­ti­tude of cus­tomer re­quests round 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.

For this award-win­ning so­lu­tion, AIA Sin­ga­pore Team re­cently cinched the In­no­va­tor of the Year - Life In­surance at the

SBR Man­age­ment Ex­cel­lence Awards 2018. This pres­ti­gious in­dus­try award is recog­ni­tion of the coun­try’s most out­stand­ing busi­ness lead­ers and teams whose ini­tia­tives have brought tan­gi­ble busi­ness gains for their com­pany’s op­er­a­tions.

In­te­grated dig­i­tal ecosys­tem

The AIA Sin­ga­pore’s team fo­cused on el­e­vat­ing ser­vice stan­dards and en­hanc­ing cus­tomer ex­pe­ri­ence through im­proved dig­i­tal after-sales ser­vice. This re­sulted in the cre­ation of POS EZ. Melita Teo, Chief Op­er­a­tions Of­fi­cer of AIA Sin­ga­pore, tells us about the mo­ti­va­tion for cre­at­ing the award win­ning POS EZ plat­form and what this ini­tia­tive means to AIA Sin­ga­pore.

“The mo­ti­va­tion be­hind POS EZ was our de­sire to pro­vide ser­vic­ing in a seam­less, con­ve­nient and fast way, and em­pow­er­ing our AIA Fi­nan­cial Ser­vices Con­sul­tants, In­surance Rep­re­sen­ta­tives and pol­i­cy­hold­ers to self­help through dig­i­tal­i­sa­tion and au­to­ma­tion. AIA Fi­nan­cial Ser­vices Con­sul­tants, In­surance Rep­re­sen­ta­tives and pol­i­cy­hold­ers can now spend more time dis­cussing and re­view­ing their pro­tec­tion and fi­nan­cial needs. Be­ing a mar­ket leader, we want to be at the fore­front of lever­ag­ing tech­nol­ogy to meet high ex­pec­ta­tions of our pol­i­cy­hold­ers and pro­vide ser­vice ex­cel­lence,” says Melita.

Dig­i­tally en­abled in­surance

Melita says that POS EZ is now a vi­tal com­po­nent for AIA Sin­ga­pore to ful­fill their over­all goal as a com­pany. “Pol­icy ser­vic­ing is one of the most im­por­tant el­e­ments, and the long­est pe­riod of in­ter­ac­tion be­tween

AIA Sin­ga­pore and our pol­i­cy­hold­ers, from the mo­ment the pol­icy cov­er­age be­gins to the time of claims or pol­icy ma­tu­rity,” ex­plains Melita adding, “Be­fore AIA Sin­ga­pore in­tro­duced POS EZ, all ser­vic­ing re­lat­ing trans­ac­tions are usu­ally done on pa­per and re­quired a phys­i­cal sig­na­ture. Most in­sur­ers fo­cus mainly on au­tomat­ing the sales ex­pe­ri­ence, and ser­vic­ing is usu­ally put on the back burner. At AIA Sin­ga­pore, we espe­cially de­signed POS EZ to of­fer a high level of em­pow­er­ment and con­ve­nience to our AIA Fi­nan­cial Ser­vices Con­sul­tants, In­surance Rep­re­sen­ta­tives and cus­tomers.”

POS EZ to­gether with AIA Sin­ga­pore’s other dig­i­tal­i­sa­tion ini­tia­tives, em­power the com­pany to be­come the best dig­i­tally en­abled In­surer where our fo­cus has al­ways been putting their needs at the heart of ev­ery­thing we do, enabling con­ve­nience and an ex­cel­lent ser­vice ex­pe­ri­ence.”

POS EZ has per­formed well since it was launched in April and Melita out­lines the key mile­stones on the trans­for­ma­tion jour­ney so far. “With the hu­man cen­tred de­sign in­ter­face and the re­mote au­then­ti­ca­tion ca­pa­bil­ity, the con­ve­nience of dig­i­tal sub­mis­sion via POS EZ has been very pro­nounced and well-re­ceived by our AIA Fi­nan­cial Ser­vices Con­sul­tants, In­surance Rep­re­sen­ta­tives.”

“In the few months since launch, we have re­ceived more than 50,000 sub­mis­sions via POS EZ and half of those sub­mis­sions have been pro­cessed in­stantly (via our Straight Thru Pro­cess­ing (STP) en­gine) with­out any hu­man in­ter­ven­tion. For the other half, the pro­cess­ing touch-time has been re­duced by 30%, ben­e­fit­ing from POS EZ’S built-in val­i­da­tions,” she says.

Keep­ing the hu­man touch

“By not en­cum­ber­ing our AIA Fi­nan­cial Ser­vices Con­sul­tants and In­surance Rep­re­sen­ta­tives to fol­low up on rou­tine and ad­min re­quire­ments, they can now have deeper con­ver­sa­tions and en­gage­ments with their cus­tomers. Con­ver­sa­tions can now fo­cus more on their cus­tomers’ fi­nan­cial health and per­sonal well-be­ing, thereby build­ing deeper, long-term re­la­tion­ships,” says Melita.

Build­ing on POS EZ as a bench­mark of suc­cess, Melita out­lines AIA Sin­ga­pore’s fu­ture vi­sion, “AIA Sin­ga­pore has a com­pre­hen­sive Cus­tomer Ex­pe­ri­ence and Dis­tri­bu­tion Ex­pe­ri­ence Trans­for­ma­tion roadmap, and we will con­tinue to build hu­man cen­tered dig­i­tal as­sets to em­power our cus­tomers to lead Health­ier, Longer and Bet­ter Lives!”

“In the few months since launch, we have re­ceived more than 50,000 sub­mis­sions via POS EZ.”

Tan Kang Wee of AIA Sin­ga­pore at the 2018 Man­age­ment Ex­cel­lence Awards

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