Insurance Company of the Year 2020 - Sun Life Hong Kong Limited

| 22 Sep 2020

Insurance Company of the Year - Sun Life Hong Kong Limited

For achieving remarkable growth, despite the economy's contraction, driven by its bigger and stronger agency channel via the effective execution of its twin-pronged strategy of quality training and quality recruitment.

Sun Life continues to help its clients achieve lifetime financial security and live healthier lives, building on 127 years of experience and capabilities. Although Hong Kong’s 2019 GDP contracted by 1.2%, Sun Life Hong Kong (SLHK) achieved remarkable growth as its full year sales rose by a record high for the company from 2018.

Putting the priority on health and retirement in 2019, SLHK provides access to quality healthcare services at affordable cost and a carefree retirement with client-centric products to meet the needs of present and future generations. This has resulted in astonishing sales growth as evidenced by the sales of health insurance that witnessed a significant year-on-year increase in the first half of 2019.

With its focus on enhancing client experiences at critical moments with digitisation, My Sun Life HK, an awardwinning app, was among the first in the market to leverage the Faster Payment System (FPS) - an open payment platform developed by the banking regulator in Hong Kong to distribute claim payouts to clients. It was a bold and unprecedented move by SLHK when most merchants at the time opted to utilize the payment system to collect payments instead.

SLHK also saw a bigger and stronger agency team in 2019, primarily attributed to the effective execution of a twinpronged strategy: quality training and quality recruitment. Training platforms Most Respected Advisor (MRA) Academy is instrumental in nurturing all advisers, SEED upskills team leaders through dedicated training on leadership, and the BrighterGen Academy helps recruit newcomers with highpotential and provides them with a fast track to success.

SLHK is bold on advertising and branding to stand out. An example is the collaboration with Manner, a new social media channel in Hong Kong with over one million followers on Facebook. Being an industry-first collaboration, a parody of the famous Three Kingdoms story was created, a video that went viral online in 2019, with more than half a million views from young audiences.

A successful campaign “What if you live up to 120 years old” was also launched that helped boost the performance of health insurance in the first half of 2019, with a year-on-year growth of more than 50% in sales.

As a subsidiary of a Canada-domiciled corporation, SLHK benchmarks itself against the best in the industry and strives to achieve and maintain the highest professional standards.

The 5th Asia Trusted Life Agents & Advisers Awards was made possible by organisers Asia Insurance Review and Asia Advisers Network, co-organiser LIMRA, and strategic partner AIA. Winners were selected in an independently-audited judging process. More information on the Awards and winners can be found here.

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Check out the other winners:
14 winners from seven markets crowned at the 5th Asia Trusted Life Agents & Advisers Awards

Young Executive of the Year 2020 - Jason Chou

Insurance Agency Leader of the Year 2020 - Benny Chow