The Digital insurer was pleased to present at IQPC claims & underrwriting conference in Singapore in September 2013. The presentation aimed to stress the important of tablet POS toolkits as a tool to transform agency distribution. In that context the opportuntiy for digital underwriting is then clarified. The Digital Insurer managed Asia's largest article forum for professionals interested in digital insurance.

1. www.the-digital-insurer.com
Think Digital: Transform your
underwriting process

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Four Themes / Areas for discussion
1. Digital will transform face-to-face advisory channels
2. Tablets point of sales toolkits are pivotal
3. Underwriting will also be transformed - twice
4. How to avoid the roadblocks
2
Life Insurance as focus
For today’s discussion

3. www.the-digital-insurer.com
The Digital Revolution:
it will not be televised
Digital
Convenience
• Always on
• Always there
• Universal
• Almost free
Digital
Connectivity
• Access to
information
(Google)
• Access to each
other (Facebook)
• Access through
devices (Apple)
• Location-agnostic
(cloud services)
Digital
Expectations
• Data “on demand”
• Desire for clarity &
simplicity
• Dialogue not
monologue
• Easy to promote a
product .. and
complain
Change, Change, Change….
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4. www.the-digital-insurer.com
Two digital “Mega” trends : forces beyond
anyone’s control
1. Technology is cheaper and
easier to implement than
ever – it is the fulcrum to
meet consumer needs,
reduce operating costs and
to change your culture
2. Changing consumer
behaviour – they are
demanding and seeking a
different experience
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4 digital Insurance business
opportunities (& threats)
Create New Models
1. Pilot New Digital models : Partner
with companies with digital assets
to create new models
2. Digital Worksite Marketing:
unlocking the hidden value in your
employee benefits business
Transform Existing Models
3. Transform Life insurance Advisory
Businesses : The Digital Advisor
4. Digital Cross Selling: personal
lines, asset management, banking
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Focus for Today

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Welcome to Digital Customers : they are
“Hybrid”
The hybrid customer is…
• Better informed
• More demanding
• “Multi-channel” for both
sales & services
• Will jump channels at
any point – catch them if
you can!
The Hybrid
Customer
Face
To
Face
Online
Phone
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Myth #1: Digital is a new distribution channel
Reality : Digital enables customer engagement

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Tablet sales toolkits : a pivotal tool in the
transformation process
1. Access sales aids/ brochures
2. Identify needs
3. Produce quotes and help to
close
4. faster, easier and more accurate
proposal submissionKey Success factors
• Must be Designed for Advisors
• Easy to use with a “wow” factor that encourages use with
clients
• Great usability is critical: engage/delight customers &
advisors 8
Tablet Functionality:
Focus on the parts of the sales
process that engage with customer

9. www.the-digital-insurer.com
Tablet sales toolkit : Easy business case
Primary benefit
Improved Sales effectiveness
through a better customer
experience
Measured by :
- High tablet usage from
Advisors
- Increased sales productivity
per month
Other Benefits after success
1. Back office productivity from
digital proposals
More efficient
Faster & more accurate (clean policies in a
day)
2. Reduced agency overheads :
premises & technology costs
3. Business intelligence
Benchmarking data
Usage data
“Bigger” data
4. Improved compliance to sales best
practice (& regulatory
requirements)
5. Recruitment training tool
6. Platform for more automated
underwriting

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AIA Case study: a tablet success story
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Full AIA case study available on-line
AIA’s Journey
1. Initial Pilot in Taiwan (end 2011)
2. Rollout in 3 countries completed (Singapore, Indonesia and Malaysia)
3. Further 6 countries to complete in 2013 (6-9 months per country)
Compete set of functionality
“The adoption of iPoS goes beyond our
expectations. In one country more than
80% of the new business is coming in
through iPoS within 12 months of launch
and in another country it was more than
30% after 3 months. The agents just love
iPoS. All other indicators such as
productivity, activity or case size are equally
positive and better than expected.”
AIA Executive leading the development
Results exceeding expectations

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Tablet Underwriting : 3 phases of the first evolution
Deliverable Benefits
1. Digital
Application
Make the application form digital
Collect additional info e.g. ID,
proof of address
Improve Accuracy &
completeness
Easy to submit
2. Digital
Issuance
Allow immediate issuance of
clean non medical policies
Collect first premium by credit
card
Next day policy issuance for
majority of policies (clean and non
medical)
3. Digital
Underwriting
Workflow engine for outstanding
medical requirements
Increased use of underwriting
engines
Supplementary questionnaires
completed immediately
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Streamlined management of non
clean and / or large cases

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Just over the Horizon : The second digital
underwriting revolution
1. Big data = more info
LinkedIn
Facebook
Underwriting questions digitised
2. Wearable devices are
coming
Fitness statistics
Personal medical data (heart rate,
blood pressure)
3. Digital Medical records
Can provide access to insurers
With more data
available
Risks can be
more quickly
& more accurately
priced

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Tips for successful digital transformation
Strategic Alignment
Digital as a transformation opportunity
The importance of Tablet POS toolkits
Comprehensive business case
approved
Resources dedicated
New Implementation approach
Customer centric (outside in)
Prototype (AGILE)
Explicit change management
Distribution owned
Launched like a product

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Objectives Accomplished?
1. Digital will transform face-to-face advisory channels
2. Tablets point of sales toolkits are pivotal
3. Underwriting will also be transformed - twice
4. How to avoid the roadblocks
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www.the-digital-insurer.com
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Hugh Terry
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