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.
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 after-sales 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.
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.”