AIA Group – Insurer Transformation Award 2023

1. TRANSFORMING AIA
The Digital Insurer Awards
Insurer Transformation 2023

2. Our 3-year Technology, Digital and Analytics (TDA) programme will complete in December 2023 and the transformation
has established AIA as a true 'digital leader', delivering market-leading capabilities and significant outcomes including:
1. Customer Experience: By investing heavily in enhancing our online customer experience we have increased the number of
registered users by over 9m in 3 years, and now have over 18.2m customers using our digital assets. We have also
improved average app store ratings from 2.7 to 4.5+ across our big 8 markets and through extensive process re-engineering
we have increased our overall Straight Through Processing (STP) rates from 59% in 2021 to 72% in 2023 across Buy
(98%), Service (85%) and Claim (93%) processes, vastly improving our response times for customers.
2. Agency Value Chain: Across the entire end to end agency value chain we have significantly uplifted our digital capabilities.
Our agent recruitment tools and processes are now powered by analytics and AI, our training is now personalised using AI,
our agency leaders are better informed and equipped to manage their agency force and agents are now their own CMO
through our market leading SIM capabilities that have generated 2m new digital leads with an impressive conversion rate of
16%. In addition, our roll out of data analytics and AI has also led to significant VONB benefits.
3. People: By recognising early in TDA that new digital skills would be key to our success we built or expanded our capabilities
in areas such as data scientists, AI experts, cloud and mobile engineers, designers and agile practitioners. Through
expanding our technology shared services in China, building new centres in Malaysia and Philippines plus implementing
academies and communities of practice we now have a pool of over 4000 internal experts across a range of skillsets.
TDA: A ROBUST FOUNDATION FOR THE FUTURE

3. We continue to add new services to our market-leading health and wellness app AIA Vitality, which tracks users’ overall wellbeing and rewards them for healthy behaviour.
By the end of 2022 we had 1.5 million members across AIA Vitality and our wellness programme in Mainland China, with over 500k active users each month and an in-app
rating of 4.1 out of 5.
Vitality allows us to engage and connect frequently with customers across several areas of their health and wellbeing, delivering health improvements throughout their
lives. By having access to this health data, we successfully influence behaviour change that moves customers towards better outcomes while increasing resilience against
communicable disease. For example*, we’ve seen 52 % of at-risk customers have had their blood pressure levels improve, 28 % of at-risk members have moved to a
healthy BMI range since joining, 72% of at-risk members have moved to a healthy glucose level and 35 % of at-risk members have moved to a "healthy" cholesterol level.
Based on the success of Vitality, we have transformed the way we engage with existing and prospective customers through the introduction of innovative, market-leading
super apps. These elevate the digital experience through an expanded and integrated range of new services, including self-service and claim capabilities, enabled by a
broad ecosystem of partners. We launched the first of our super apps, AIA+, in Mainland China at the end of 2021. AIA+ has increased customer repurchase rates of
additional products to three times the level when compared with customers who do not use the super app. Our relationship with WeChat has also led to increased
engagement and we now have over 3.5 million users and an app store rating of 4.8.
We launched our second super app, ALive, in Thailand in October 2022. ALive now has over 1m users, an app store rating of 4.7 and generated US9.6m VONB by the
end of 2022, as well as a 20% conversion rate from leads. We also launched AIA+ in Vietnam this year, with servicing features as well as the Vitality proposition.
In Thailand and China combined, the Super App has generated 1.6m leads from non-customers and has increased customer repurchase rates of additional products to
three times the level when compared with customers who do not use the app.
In Indonesia we launched ANYA, a WhatsApp solution that allows customers to access information, such as hospital lists and policy status, as well as making self service
requests, such as claims, surrender and more. Because WhatsApp is a familiar channel for customers - and has an industry average of 90% message open rate - it
provides us with a new channel to connect with customers. We’re now exploring how this can work seamlessly with Vitality and the Super App for a fully integrated
experience.
AIA ranked number 1 in NPS (Net Promotor Score) in China, Hong Kong, Malaysia, Indonesia, Philippines and Taiwan and was acknowledged as top three in nine
markets in our latest customer relationship surveys. We also achieved an overall Customer Satisfaction Score (CSAT) at 96% for our call centres. 13 markets achieved
FCR(First Contact Resolution) rates of 90% or higher, without the need for additional follow-ups.
*statistics are taken from the membership population which has two or more verified health checks submitted with AIA Vitality, i.e. those members for whom we have data. Valid at
December 2022.
CUSTOMER EXPERIENCE

4. Through the use of advanced analytics and AI, we have reduced the time it takes for customers to receive a response across our core processes of Buy, Service and Claim.
Operations digitalisation has helped achieve AIA’s Sustainability Goals, saving 1,750 tonnes of paper in 2022 which is the equivalent to 350 million pieces of paper or the
height of which is about Mount Everest four times over. Here’s how:
BUY: (98% digital applications): We have simplified underwriting rules and eliminated unnecessary requirements from customers, supported by AI-decision-making
capabilities. In our end-to-end buy processes, we achieved digital submission of 97%.
Market examples
In China, 75% of new business applications were underwritten automatically by our AI-powered systems. In the Philippines, we have delivered 99.9% underwriting accuracy
using AI and supported end-to-end customer onboarding in just 20 minutes. In Malaysia, we've improved STP by 3% with our Existing Customer Pre-Scoring (ECP) engine,
which uses machine learning to predict an existing customers' underwriting outcome.
ONLINE SELF SERVICE: (85% digital requests, 74% same-day processing): Our enhanced agent and customer online self-servicing capabilities have driven digital servicing
submissions to 85% of all submissions in December 2022 and overall service STP reached 79% across the Group.
Market examples
In China, we have utilised OCR and face recognition technology to further remove friction from customer pending service requests reducing turn-around-time from 3-4 days to
just 10 minutes. In Malaysia, our AI Talkbots perform outbound calls to customers for premium reminders. Within the first few weeks of launch we saw collection rates hit 20%.
In Thailand, our inbound AI Talkbot answers 73% of incoming calls, of which 35% are serviced end-to-end. For outbound premium reminder calls, the payment success of
contactable customers has increased from 27% in 2022 to 79% in 2023.
CLAIM: (93% digital claims, 63% same day processing): AIA’s re-designed claims processes resulted in faster and more cashless settlements. In December 2022, 85%
claims submitted digitally, 63% of claims were settled within same day and 93% of claims payments were digital.
Market examples
In Korea, time from submitting a claim to receiving an outcome has been cut down from three days to just 20 minutes. In Singapore: 60% claims processed with no human
intervention and paid within 24 hours. We have also introduced Fraud, Waste and Abuse (FWA) risk detection where claims with high STP eligibility scores and low FWA risks
will proceed through STP, while the rest will be referred to claim assessors for review. Mitigating FWA risks brings an expected claims savings of US$ 50MM per year and
results in a faster payment for customers, from 2+ days to less than three minutes.
CUSTOMER: BUY, SERVICE AND CLAIM

5. AIA’s unrivalled distribution is one of our core competitive advantages and we have made
substantial investments in technology, digital and analytics over the past three years to further
enhance and differentiate our agency force.
Last year we continued to enhance our agency digital tools, implementing more than 200 new
features and improvements which support increased interactions and greater customer insights
across our value chain:
1. Recruitment: We have increased the number and quality of our recruits, allowing us to
scale the recruitment process to allow more people to apply. We are leveraging data and
AI throughout the recruitment process to enable us to identify high potential agents.
2. Training: Through the use of AI-enabled personalised training, we have accelerated agent
development which evolves as agents progress through their careers.
3. Activity management: We have empowered our agency leaders with better salesforce
management tools that enable them to manage the performance of their agency force
more effectively. For high potential agents, this supports them in their journey to become
leaders and future MDRT members.
4. Marketing: We have empowered our agents to be their own CMO by sharing curated
content from AIA marketing experts.
5. Sales: We have taken an advisory-centric approach to our selling, moving us from product
selling to needs-based selling.
6. Service: We have used AI to transform the way we serve our agents, providing them with
seamless, accessible support.
AGENCY VALUE CHAIN
AGENCY VALUE CHAIN
By the end of 2022 our leading KPIs
were:
 95% adoption of online training
 77% of agent recruited using iRecruit
 +23% increase in Activity
Management Adoption
 +114% increase in marketing content
 +48% increase in marketing shares,
generating 1.8m leads with a 16%
conversion rate
 98% of policies paid and issued via
iPOS in 2022
 4.7 in app rating across tools

6. RECRUITMENT
In eight markets, we have implemented a new Recruitment tool (iRecruit) to enable digital onboarding, which is composed of 51 key capabilities that span:
Talent management, recruitment tools management, activity management, candidate management, licensing, contracting, onboarding and pipeline
management. iRecruit has two main components: (1) Attraction Piece which is a digital portal for leaders to promote AIA careers to prospective recruits and (2)
Application Management which is a back-office function for leaders to facilitate all onboarding requirements. iRecruit is fully integrated to AIA systems to enable
digital onboarding from lead assignment to eventual coding. Adoption is at 100% for Hong Kong, China and Malaysia, and 93%+ for Singapore, Indonesia and
the Philippines.
Market example
We are leveraging data and AI throughout the recruitment process to enable us to identify high potential agents, including our data-driven Career Aptitude Test
(CAT), which uses data modelling to build a sophisticated algorithm to facilitate precise recruitment; and AI interviews, which enable interviews to be held at
anytime, anywhere. During the interview, textual, emotional and facial analysis is used to assess the attitude, communication skills, professionalism
and sociability of recruits. The pilot was launched in Hong Kong in Oct 2021 with the full launch following in Jan 2022. The average monthly case count of
agents in the top score range is 2.3X the average monthly case count of agents in bottom score range. The top CAT scorers receive 3.4x more commission than
bottom scorers.
TRAINING
We have delivered learning portals (iAcademy) to enable digital learning and accelerate agent development. These include 32 key capabilities which span
learning content management, online learning management, registration, learning path management, feedback management, certification, and virtual learning.
Adoption is at 100% for our five biggest markets. With advanced analytics and AI models, these training modules provide personalised training
recommendations to support agent growth, ensuring the right courses get recommended at the right time, and are optimised according to tenure, type and
performance.
Market example
In Hong Kong, we are enhancing the current capabilities of our iAcademy with an AI-enabled Training Recommendation Engine to enhance our agent's
eLearning experience. The engine provides recommendations that are: Data-driven based on agent details, Personalised to maximise efficiency, Curated to
ensure agents have access to the latest information and Automated to ensure they’re timely.
AGENCY: RECRUITMENT AND TRAINING

7. ACTIVITY MANAGEMENT
Across seven markets, we have developed activity management tools to support agents and leaders in day-to-day tasks such as lead
and performance management, including capabilities such as sales builder, income analysis, career promotion and validation, activity
management, performance dashboard and communication.
Market examples
In Hong Kong, our Intelligent Personal Assistant (iPA) integrates various components together like Contest Management System, Single
View Dashboard, Smart Search Engine & Navigator, alerts and reminders. This provides agents with a single dashboard that covers
analytical insights, alerts, reminders and highlights.
In Malaysia, our AIA Life Planner App aims to improve agency management, activation and productivity. The gamification engine assists
agents in driving campaigns with a business dashboard that helps them to achieve sustainable growth through automation.
In China, our data driven app, Navigator, was built to address challenges with customer acquisitions. We created an all-inclusive
customer acquisition, nurturing and engagement platform for agents with detailed customer segmentation and targeted content and
insights. The results are promising:
• 15+ applications consolidated, creating one Super App for agents
• 200+ pieces of content available to agents, consolidated from 10+ content platforms
• 200k+ customer interactions per month
• 15% customer conversions from high quality leads
• 100% agent activity management
• 200+ agent tags to identify key insights
AGENCY: ACTIVITY MANAGEMENT

8. MARKETING
We created an innovative social media prospecting and content sharing tool (SIM) across eight markets, which empowers our agents to be their own CMO by sharing
curated content from AIA marketing experts. By leveraging SIM, agents have generated close to US$ 280 million of ANP from over 2 million customer sales leads in
2022. The total number of leads has increased by 26% to over 1.6m in August 2023.
Market example
In Malaysia, our Social Media Prospecting tool, iCari, allows our life planners to generate, manage, contact and actively convert leads. Our life planners' professional
profile can be shared with customers and provides real-time access to leads assigned, including content recommendation for each customer. We recently added new
features to SIM in Malaysia, specifically AI content recommendations, leading to:
• 78% adoption for active agents
• Generated 850K leads
• $20.5m VONB in 2 years
SALES
Across eight markets, our agents are equipped with a digital sales tool (iPoS) that enables them to provide a fully digital sales experience from financial needs analysis,
proposal generation, e-application and submission. The iPoS capabilities include leads identification, leads assignment, leads tracking, leads 360 views, leads creation,
calendar management, financial planning, and sales management. Four of these markets have been upgraded to the Next Generation of these tools, which provides an
improved user experience and is device agnostic for broader use.
Market example
In China, we've built an automated customer engagement platform based on data analytics. This includes Smart Tagging for better insights, giving us a 360-customer
view; A Proposal Engine to match product solutions, with detailed explanations on product propositions; Sales Leads in real-time that are pushed to the sales team to
promote a wider product mix, and; Visibility that enables monitoring and tracking to enable timely adjustments to campaigns. As a result of the platform, we've created
200+ customer tags and seven proposition models, generating 264k in warm leads in Q1, allowing us to increase customer coverage by 15% compared with last year,
and new business by 22%.
SERVICE
In Malaysia, we’re using inbound agent segmentation to ensure that agents are supported in the way they want to be, differentiating the agents’ profile and their
transaction reasons to identify agents for self-service. This reduced the number of agent calls and “Avoidable Transaction Volume” of emails by 50% in Q4 2022.
AGENCY: MARKETING, SALES AND SERVICE

9. We are fostering a culture of digital innovation, enabled by capabilities that allow us to move seamlessly from ideation
to execution,
• We are upskilling employees in four key areas: Cloud, Agile, Analytics and Design
• Each area has an academy that’s built on partnerships with world-leading institutions, allowing our employees to
broaden their knowledge in TDA, from beginners and intermediates to experts and leaders.
• Since September 2023, the Cloud Academy has seen 600 technology employees enroll, including 374 “graduates”
who logged more than 24,900 learning hours. This helps the company create a talent base that is engaged,
inspired and motivated to deliver value for the business.
• Through our Agile Academy, we’ve had over 200 graduates to date with another 230 planned by the end of 2023.
We’ve also run Agile drop-in and awareness sessions for a further 700 people. The AI and Data Analytics Academy
opened in 2022 and has had 410 graduates to date. Piloted in 2022, our Design Academy, is already in its 4th
cohort and will have 74 designer graduates from 11 business units by Jan 2024. We’ve also introduced Design
Clinics for markets to share their designs / customer journeys to be reviewed by CoE experts to ensure the end
outcome meets our design standards. 126 Design Clinic sessions have been conducted since the start of 2023,
with an 87% booking rate from 13 business units.
• Our technology, digital and analytics talent has increased by 63% since we began our transformation to become a
simpler, faster, more connected organisation in July 2020.
EMPLOYEES: UPSKILLING FOR THE FUTURE

10. To provide greater access to technology, digital and analytics (TDA) talent - and bring key capabilities
inhouse, we also established two new group entities Malaysia and the Philippines, as well as TSS in
China.
The Malaysia and Philippines entities were launched as a new brand known as AIA Digital+ to attract the
best in those markets and to provide all Business Units with enterprise-wide Group Technology services
and demand-led capabilities across critical skillsets, including Data Analytics, Business Intelligence,
Human Centered Design and Agile delivery.
Collectively between all three markets, we have over 3,500 inhouse TDA talent that are available for our
market to use, which removes the need for external contractors and allows us to keep our IP inhouse. We
have grown TSS in China by an incredible 300% in just three years
Digital+ is now #9 of our Top Ten AIA brands followed on LinkedIn with over 20,000 followers and 92% of
talent engaging with the page before applying.
EMPLOYEES: ACCESS TO IN-HOUSE EXPERTISE

11. As a result of TDA, we’ve leapfrogged competitors. We're now ready and well positioned to adapt to
new and emerging technologies that are evolving the way we do business.
Together with data analytics, AI is transforming interactions and broadening access at a
miraculous pace, while human beings provide safeguarding to build trust.
We know that AI, data analytics, and humans will forge the future of the industry.
We continue to deepen and industrialise our use of AI and analytics across the Group with a total of
235 high-impact use cases implemented since the launch of our TDA strategy, including 111 deployed
in 2022.
In parallel, we’re equipping our people with the latest skills, tools and technology, and enabling them to
learn, contribute and thrive in a dynamic and exciting environment.
In a culture of purpose-driven empowerment and collaboration, our people work together every day -
believing in better - to help even more people across Asia live Healthier, Longer, Better Lives.
CONCLUSION: FORGING THE FUTURE OF THE INDUSTRY

12. TRANSFORMING AIA.
THE FUTURE IS NOW.