Headline MediaTitle Date Section Page No Language Journalist Frequency Digital breakthrough a new dimension for life planners Malaysian Reserve 15 Oct 2014 Color Full Color Trend Circulation 20,000 24 Readership 60,000 English ArticleSize 710 cm² LEANOS FERNANDEZ AdValue RM 6,569 Daily PR Value RM 19,706 Digital breakthrough a new dimension for life planners Techenabling features and finesse encouraging more intimate way of handling insurance business by LEANOSFERNANDEZ They are impressed by the use of revolutionary applications that blend technology, style and mass appeal that generate opportunities and open the window to new business. After AIA that productivity and end goals are entering a new age that offers a chance for personal development and learning. Life planners are leveraging iPoS for a variety of purposes in these changing times. Having been developed after extensive usability study, the tool has been found suitable across multiple territories, languages, configurations and operating systems that make a huge difference introduced the Interactive Point of Sale (iPoS) to customeragent progress. CLICK servicing, touch screen and "always on"communications are attracting new blood, not surprisingly, savvy life planners who are looking for challenging careers that bring out the best in them. technology in Malaysia in January last year, the move proved to be a "step change", a boon for the best practices of the agency workforce. The iPoS has, among others, helped realise two remarkable objectives. It's raising professional standards in the workplace significantly, elevating the quality of customer relations, while adding a new dimension to marketing potential. Its technologyenabling features and finesse have encouraged a more intimate way of handling business in direct communications with customers, while unlocking productivity gains that give the life insurer optimum competitive advantage. In its diversification of and forays into new and resultsoriented business ventures, the life insurer has done a sterling job of ensuring outcomes constitute a winwin scenario for The 'Pingin' Factor In especially the insurance business (which deals with life, death and illness), it matters most to be able to see the big picture, as it helps prepare for greater protections. When life planners were provided with iPoS, it was well received because of how ownership of it also meant the ability to help customers to be in the know about the larger more important priorities that require coverage. In an operating model like iPoS, the compelling case for its use and continued expansion has grown from strength to strength, because of the kind of astounding applicability it offers life planner and customer. More so in the case of the huge wave of the plugged in or more popularly known Gen Y policy buyer. When it became available to AIA Malaysia life planners, more than 11,000 agents were trained and provided with an iPad. As of November itself, agency and customer. The deployment of iPoS has not just led to visible business transformation, but also helped promote a 2013, more than 8,000 active iPoS users were winning streak in the sphere of valueadded registered monthly and more than 85% of new services. business cases were digitally submitted via the With a tremendous headstart, AIA has gained device. a competitive edge by the use of an online tool The life insurer plans to achieve full e that's hastening the pace of attracting, developing submission within the next two years. By the and retaining longterm customer attention. end of November last year, its straight The momentum triggered by its latest throughprocess (STP) rate averaged around technology deployment that provides quality 60%, which means those new business cases interaction is especially felt among the were processed and set in force without digitally connected Gen Y — AIA's targeted human intervention. customer base. Operational costs have been a key factor in the For life planners, its easy usability has use and application of the iPoS digital device. contributed to positive changes in the way work According to the corporation's own records, iPoS is organised, documentation is prepared and has helped "reduce operational costs" in areas communication is delivered. such as printing, postage and data entry. For AIA's 17,000 life planners, such changes Also, the device's more customerfriendly provide endless possibilities that point the way features include: contact management (covering to a brighter future. The impact of an customer leads and activity calendar "electronically" induced system at work and management; financial health review and service levels has also been a timely reminder Headline MediaTitle Date Section Page No Language Journalist Frequency Digital breakthrough a new dimension for life planners Malaysian Reserve 15 Oct 2014 Color Full Color Trend Circulation 20,000 24 Readership 60,000 English ArticleSize 710 cm² LEANOS FERNANDEZ AdValue RM 6,569 Daily PR Value RM 19,706 planning; sales quotation; biometric signature; electronic submission (covering document capturing and forms submission); and, instant payment. Staying Ahead of the Curve It is the age of the customer today, and in real business terms it can often mean having acumen. Perhaps, equally important is the ability to keep the customer in the centre of everything. In this respect, iPoS's valueadded elements cannot be ignored, for while being a great speed processor, it also allows flexible new ways of working that save life planners' time and customers' money. AIA's exponential technology advance, greater and closer consumer and agency interaction is a core driver of business, a sure way of staying Malaysian public, it showed a rare and early insight into prevailing changes in market trends with the pluggedin millions in mind. It had correctly gauged customer behaviours and attitudes that will align themselves, especially when it comes to purchasing through "touch" interconnectedness. Bonding with New Emerging Customer Base Last year, AIA engaged nearly 6,000 full and parttime life planners. What was unique about the recruitment drive was the fact that between 80% to 90% of them were from the Gen Y, the growing "plugin" segment. The decision made business sense, in the end. is integral to life plannercustomer challenges. Younger agents bond more with their peer group and are able to quickly relate and interact in a more personalised way that paves the way for a much easier and more communicable way. The mastery and application of the cutting edge device is bound to be a source of personal pride and achievement for a dynamic and ambitious Gen Y "agency group" that should be more comfortable with "paperless" dealings and spurred on by the facility that allows to close more deals much faster (multiple products mixed in one platform catering to multiple Usage of iPoS is expected to contribute markedly customer needs). to specific marketing strategies geared towards raising the penetration rate. Technology is changing consumer dynamics Other technological features include inbuilt intelligence and automated capabilities, providing data accuracy and validation, one timeandyouaredone feature, the facility to close more deals faster, and signature and submission, on the spot. An internationally respected authority on insurance, Life Insurance Marketing and ahead of the insurance curve. The two have combined to produce what a recent Harvard study says, is part of a test and learn culture, "Increased digital marketing through various devices would improve opportunity to connect with existing customers, allowing corporations to better upsell, cross sell and retain future valuable customers," the study observed. The huge untapped population of uninsured and AIA's response has been swift, innovative and handson. The introduction of IT methods to improve customeragency fusion has contributed much to meeting expectations. Timely Role of an Enabler In surveys and studies, it has been found that insurers who substitute physical interactions with digital transactions appear to be gaining a certain ascendancy in the industry. In this respect, IPoS has been found to be an excellent "engagement model" in more ways than one. The userfriendly device helps facilitate a certain product transparency that customers want and have been looking for. Being an advantageous investment in opportunity, its uncomplicated and practical use ensures customers know what is being offered by life planners and whether it is their preferred choice. When AIA brought iPoS to the attention of the Research Association, or LIMRA recently made some observations at a global conference in New York that bear on the subject under review. On the importance of technology in the post millennial marketing era, it said that "mobile content consumption for life agents and customers is increasing to the point it is becoming a prime performer in business". Technology in the insurance industry, it added, provides multiple ways for life agents and consumers to be the end beneficiaries. AIA is living proof of the success of connecting technological innovation to business strategy, through support from its life agency and response .from a rapidly growing customer base. Headline MediaTitle Date Section Page No Language Journalist Frequency Digital breakthrough a new dimension for life planners Malaysian Reserve 15 Oct 2014 Color Full Color Trend Circulation 20,000 24 Readership 60,000 English ArticleSize 710 cm² LEANOS FERNANDEZ AdValue RM 6,569 Daily PR Value RM 19,706 a An AIA insurance professional (left) presenting a proposed life plan to a potential client