Digital Transformation of the Year 2021 - AIA Singapore

| 06 Aug 2021

For creating an app that allows agents to serve their customers better; for developing a claims portal that drastically speeds up claims turnaround time; and for launching a platform that lets customers better engage with their insurance portfolios.

AIA Singapore has gone to great lengths to make sure its agency force is well-equipped to serve its customers in the digital age. To free up its agents’ time and allow them to focus more on deepening customer relationships, it has focused on strengthening the digital ecosystem that makes its entire organisation simpler, faster and more connected.

In January 2020, AIA Singapore launched iSMART, a super-app that supports its agency force with features that have been purposefully engineered around customers, going beyond statistics to paint a holistic story.

iSMART helps agents take the guesswork out of customer engagement – analytics-backed propensity models help agents to be more targeted at engaging customers for cross-/up-selling by addressing their specific needs through personalisation.

Last year, over 225,000 leads and S$45m ($33.9m) in annualised new premiums were generated via agents leveraging iSMART to share relevant campaigns with prospects and customers, and almost 70% of total sales of AIA’s MultiStage CancerCover product were purchased on AIA NOW, a self-fulfilment platform integrated with iSMART that allows customers to purchase products instantly.

To create a simple and speedy claims experience for its customers, the insurer launched its Claims EZ portal that was developed in partnership with AiDA Technologies. The portal allows Singaporeans to submit claims digitally via SingPass Mobile and AIA 2FA remote authentication, provides immediate claims decisions through auto-adjudication using AI and supervised machine learning and offers customers almost real-time cashless payouts through PayNow.

With Claims EZ, the company’s end-to-end turnaround time for claims processing, from the point of submission to final disbursement of claims payout, has been reduced to one to four working days, compared to the industry average of two weeks minimum.

And to give customers more visibility and control over their insurance portfolios, AIA Singapore rounded off its digital ecosystem with My AIA SG – a 24/7 secure digital platform developed specially for its customers to inform, enrich and empower them with ‘self-service’ technology, allowing them to make up to 28 different types of day-to-day service requests.

As of December 2020, more than 560,000 AIA policyholders were on My AIA SG, an average monthly increase of 15,000.

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Check out the other winners:

Winners crowned at the 6th Asia Trusted Life Agents & Advisers Awards

Rookie Insurance Agent of the Year 2021- Chan Fun, Nicholas

Rookie Insurance Agency Leader of the Year 2021 - Nguyen Thi Van

Financial Adviser of the Year 2021 - Lee Zi Yi, Michelle

Bank Partner of the Year 2021 - Krungthai Bank

Digital Agent of the Year 2021 - Joyce Chan

Employee Benefits Consultant of the Year 2021 - Anthony Wong

InsurTech of the Year 2021 - Heartzmail

Download the winners' booklet here