Qorus Innovation in Insurance Awards 2024- Nominated

AIA One--Reimagining the sales agent experience at AIA Thailand

Submitted by
premium
Q+
19/04/2024 Insurance Innovation

About

In the past 12 months, AIA Thailand was able to retrofit 30 agency legacy apps into ONE enterprise-level platform called ‘AIA One!’ The platform is powered by cutting-edge ai, sleek, user-friendly design, all to empower AIA Thailand’s 50k+ agents.

Innovation presentation

At AIA, we are leveraging Technology, Digital and Analytics (TDA) across our business as we transform into a customer-centric, digital insurer. Our leaders have made the commitment to enable the TDA-led transformation of our business units to achieve a future-proof AIA that is simpler, faster and more connected.

AIA Thailand is the leading agency distributor in the country. Over the years, we have a track-record of being first whether as the largest life insurer in the nation or in innovation. Over the past few decades, many of the apps built have become dated from a data integration, digital capability and UI/UX perspective. In 2022, we decided to go back to the drawing board to reimagine the sales journey for agents. And from that initial discussion, we embarked on an ambitious journey known as ‘AIA One’. AIA One is an overhaul of 30 existing agency-related legacy apps combined into “one.” Not only did we modernize the architecture that housed multiple existing legacy platforms, but we also ensured that user experience was intuitive and seamless. Along the way, we also added innovative ai solutions to improve the sales journey while also ensuring that AIA One played a pivotal role in transforming the digital ecosystem in AIA Thailand.

Before AIA One, AIA Thailand had multiple built-for-purpose apps that ended up being unwieldy, overwhelming and largely unused/ignored. From working with agents and business stakeholders, we found that the ecosystem of multiple apps was becoming ineffective. Fragmented information, as well as friction from navigation through multiple platforms, has reduced overall satisfaction in the sales and support journeys agents have with their clients. Simply put, the process-focused nature of these built-for-purpose apps has hindered realization of business potential. Unlike its predecessors, AIA One is about creating world-class frictionless interactions, starting from prospecting a customer all the way to customer success. Our ultimate goal is to create one singular elevated digital experience that brings together an integrated ecosystem of services, that puts users at the center and drives key business benefits.

This involves:

1. Customers: Our human-centered design approach, designed with simplicity, timeliness and reliability, delivers the best-in-class (digital) customer experience across their purchase journey.

2. Agents: By providing our agents with innovative digital sales tools, we transform the way we engage with customers, enhance servicing efficiencies and improve productivity across the entire value chain.

3. Business Owners: Our digitally led approach to distribution has enabled us and our partners to grow scale and productivity, as well as develop and deliver highly relevant and personalised customer propositions.

Through the combined efforts of the agency teams and the digital team, the result was a finished product launched in October 2023 that included:

1. Prospecting: using a lead management system that utilizes an ever-evolving AI model, we can match prospects from various digital channels with the right agents. Our model harnesses information collected by channels empowered by CDP (customer data platform) tags in our various channels to match high-propensity leads with the ‘right’ agent. The agents can see additional information pertaining to prospects and existing customers that will help them tailor their pitch/ engagement.

2. Sales: We can track an agent’s sales journey from start to finish while also gaining insights on where the lead drops-off and address specific pain-points. Agency leaders are also able to view how their agents are performing and aggregate data into a team-level dashboard to identify top-performers and under-performers.

3. Sales performance and incentives: Agents are able to view their individual sales performance and activate their “AI coach” in order to understand how and what they need to do in order to achieve various goals i.e. MDRT status

4. Customer and campaigns: For the first time, agents are able to aggregate various campaigns into a single view and pick which campaigns are the right ones for themselves and their customers.

As we continue to leverage and apply intelligence, we are measuring success across four KPIs:

1. Repurchase and sales uplift

2. Active agents

3. Agent satisfaction score

4. Cost-savings from combining infrastructure

Uniqueness of the project

We combined 30 existing legacy apps built over 20 years into one, singular platform within a span of 12 months. This involved:

1.) Ways of working: adopting an agile methodology to deliver work in bi-weekly sprints

2.) Prioritization: what are some of the things we can launch as an MVP? and what are some of the features that we could decommission to avoid clutter.

3.) Tech architecture: how do we adapt to AIA’s current tech chassis while ensuring that our own architecture can support rapid integration of new features

In addition, our lead management system (LMS) features a constantly evolving ai model that allows us to automate the process of matching prospects to agents utilizing behavioural data (from both agents and customers), geolocation, risk scoring models and demographics to minimize lead drop-off and maximize agent success.

We delivered an ambitious project at 70% of the assigned budget while also launching on time with a score of 4.6/5 across the 6,000 agents surveyed.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

23/05/2024 Banking Innovation

Improving Financial Health via Mobile

How to truly improve financial health at scale

23/05/2024 Banking Innovation

Intesa Sanpaolo AI-powered Pricing

Artificial intelligence at the core of the Pricing process, to revolutionize the way pricing is defined and managed in the...

23/05/2024 Banking Innovation

Supplementary Pension in Intesa Sanpaolo's Mobile APP

Supplementary pension plan in App: from Subscription to Post- Sale, for an interactive and immediately customer experience. Totally new processes...

23/05/2024 Banking Innovation

Finanza Insieme

Finanza Insieme: Impara, Capisci....Agisci

Related news & insights

Digital Reinvention
23/05/2024 News

UK fintech Jaja pioneers AI chat assistant for lending

Jaja Finance has launched 'Airi,' an advanced AI chat assistant to enhance customer support and lending services. Using the Claude...

Digital Reinvention
21/05/2024 Article

Innovation Masters: How top insurers retain customers

In this article, we'll explore recent successful innovative programs for retaining customers by Discovery, Mapfre, Triple-S Vida, AXA, and Nib....

Digital Reinvention
20/05/2024 News

TD Bank launches Gen AI pilots to enhance customer and employee experiences

These initiatives are part of TD's broader AI strategy, leveraging advanced AI capabilities to support both customers and employees.

Digital Reinvention
20/05/2024 News

bunq enters the insurance market with AI innovations

bunq, Europe's second-largest neobank, has launched worldwide travel insurance amidst rapid international growth, reaching 12.5 million users and over €8...