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17 November 2021
MANILA, PHILIPPINES; 17 NOVEMBER 2021 – With the recent rebrand of AIA Philippines and its bancassurance subsidiary, BPI AIA, the two life insurance powerhouse companies are focused on pushing the boundaries to achieve their global capabilities, in alignment with the strategies and direction of AIA Group, their Hong Kong-based parent company. Part of this alignment is going full speed ahead with the use of technology, digital and analytics—referred to as TDA—to streamline their processes, strengthen their operations, enable their people, and provide relevant solutions to customers while continuously improving service delivery.
“With our recent rebrand to AIA Philippines and consequently, BPI AIA, we continue to ramp up our internal transformation to be better positioned for the future as we embrace our global capabilities, aspiring to lead in the TDA space within the life insurance industry,” stated Leo Tan, Chief Marketing Officer of AIA Philippines.
AIA Philippines Chief Technology Officer, Noel Mendoza, shared various TDA initiatives that the Company has undertaken, emphasizing how the end user is at the center of the project design and development, to ensure ease of use and encourage adoption. This is especially true for projects that have the customers as the end users. “Our customers take the wheel. We will tailor, learn and evolve based on their wants and needs,” shared Mendoza.
As a life insurer with access to huge amounts of data, data and analytics and the use of cloud are also key areas that can help the business. “We will use the data we have for better insights and understanding. We will re-design our business models around the services they will need,” Mendoza expounded. “And finally, everything in the cloud—it’s where digital lives and comes alive.”
A practical and convenient platform
Among all the TDA projects mentioned, the recently launched My AIA platform was showcased in a media briefing, with a walkthrough that highlighted its functionalities. My AIA is an integrated platform where AIA Philippines customers can access the Total Health Solution ecosystem to help them live better, protect better and get better with just a few taps.
Geegee Lopez, AIA Philippines Chief Operations Officer, further explained, “My AIA is our customers’ all-in-one touchpoint where they can manage their protection, continue to choose living healthy, and access health care should they find themselves under the weather or worse, as may sometimes happen. This platform is the first step to demonstrate our commitment to make protected healthy living easy, and there will be more features coming soon, as we continue our design sprints and customer validations. Again, because we really mean it when we say: We put our customers at the heart of everything we do.”
Geared for the future
The ongoing pandemic has presented a lot of challenges to AIA Philippines and BPI AIA, but both companies have been able to pivot efficiently and effectively. TDA, once just one of the company initiatives, suddenly had to be at the front and center, fast tracking the progress of technology and digitalization projects in the pipeline. Despite the challenges of working remotely, these projects quickly got off the ground, with a timely launch that was able to address the immediate needs of the business and its customers.
“As we rebranded to AIA Philippines early this year, we firmly embraced the importance of TDA as a key component underpinning the various pillars of our business strategy,” remarked Kelvin Ang, AIA Philippines Chief Executive Officer. “As we go through transformation on our processes and the development of technology projects, TDA’s influence will not be limited to these, but will also necessitate a culture change, where we adapt agile ways of working as we continue to build a culture of innovation within AIA Philippines. These will all come together to help us fulfill our purpose of helping Filipinos live Healthier, Longer, Better Lives.”
Click here for more information on AIA Philippines, visit AIA Philippines’ Facebook page, email firstname.lastname@example.org, or call (02) 8528-2000.
About AIA Philam Life
AIA Philippines (AIA Philippines Life and General Insurance Company), formerly AIA Philam Life (The Philippine American Life and General Insurance Company), is the country’s premier life insurance company. Originally established on 21 June 1947 as Philam Life, AIA Philippines has earned the trust of customers for its financial strength, strong brand name, and ability to deliver on its promises.
AIA Philippines has PHP291.63 billion in total assets and PHP80.20 billion in net worth as of 31 December 2020, while serving over 800,000 individual policyholders and almost 1,000,000 insured group members.
AIA Philippines understands the needs of its customers and provides holistic solutions that include life protection, health insurance, savings, education, retirement, investment, group, and credit life insurance. It also offers bancassurance and fund management products and services through its subsidiaries—BPI-Philam Life Assurance Company (BPLAC) and Philam Asset Management Inc. (PAMI).
Based on the Insurance Commission results as of 31 December 2020, the combined total premium income of AIA Philippines and BPLAC was at PHP33.06 billion.
AIA Philippines is a member of AIA Group Limited, the largest independent publicly listed pan-Asian life insurance group.
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Taiwan (China), Vietnam, Brunei, Macau SAR(2), New Zealand, a 99 per cent subsidiary in Sri Lanka, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$291 billion as of 30 June 2020.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).
Abbie L. Remo
Corporate Communications and PR Lead