AIA Singapore elevates industry standards with triple win at Insurance Asia Awards 2024

Highlighting its innovative approach to the ageing population, digital transformation, and  international insurance market leadership. 

AIA Singapore has once again affirmed its leadership and commitment to advancing the  insurance sector in Singapore by securing top accolades at the Insurance Asia Awards 2024.  

Demonstrating innovation and forward-thinking, AIA Singapore was recognised with awards in  three prestigious categories: Insurance Initiative of the Year - Singapore, Digital Transformation  Initiative of the Year - Singapore, and International Life Insurer of the Year - Singapore. 

Leading the way with the Insurance Initiative of the Year 

In response to the unique challenges posed by Singapore’s rapidly ageing population, AIA  Singapore launched the AIA Centurion Personal Accident plan, a pioneering initiative  addressing the escalating concern of dementia, which is now the nation's most pressing worry  according to the AIA Personal Accident Insurance Survey. Recognising that over half of  Singaporeans lack coverage for neurological diseases, AIA introduced a first-in-market optional  rider for personal accident plans targeting the sandwich generation—those caring for both  ageing parents and their children. 

The AIA Centurion Personal Accident plan offers groundbreaking coverage for Alzheimer’s  Disease, Severe Dementia, and Parkinson’s Disease from early to late stages, with just two  health questions required for eligibility. This innovative approach simplifies access to coverage  in the most needed areas, helping to bridge the protection gap for Singaporeans, especially  benefiting the elderly. 

AIA Singapore's efforts to raise awareness and educate the public on dementia were  multifaceted. Collaborations with local media, including poignant street interviews and a short  film featuring national icon Phua Chu Kang, effectively engaged the community. This campaign  not only enhanced understanding but also showcased the tangible benefits of early planning for  neurological diseases.  

Revolutionising the industry with iSMART+ 

The Digital Transformation Initiative of the Year award was rightly claimed by AIA Singapore for  its innovative iSMART+ app. This revamp of the original iSMART super-app significantly  enhances the way insurance representatives manage their interactions with clients. The new  app introduces a web version, which broadens access to various devices and introduces  Customer Lifecycle Triggers (CLT) that provide insurance representatives with detailed insights  into their clients’ evolving life stages and needs.

This tailored approach allows insurance representatives to offer personalised service and  advice, greatly improving customer satisfaction and engagement. Features like the “Premium  Last Lap” milestone empower insurance representatives to proactively address client needs at  critical times, enhancing the relevance and timeliness of their service. 

The success of iSMART+ is evident in its impressive adoption rate and significant lead  generation, contributing substantially to AIA’s growth and solidifying its position as a leader in  digital innovation within the insurance industry. 

A global leader in life insurance 

AIA Singapore’s commitment to excellence and its comprehensive strategy focusing on  professional development, customer engagement, and innovative technology also led to its win  as the International Life Insurer of the Year - Singapore. With the largest network of highly  trained and qualified representatives in Singapore, AIA continues to empower its team with  cutting-edge tools like iSMART+ and iPOS+, enhancing their ability to deliver top-tier financial  advice. 

The company’s dedication to fostering a healthier, more secure community is reflected in its  numerous initiatives, including the AIA Health360, which promotes a holistic approach to  wellness. In 2023, AIA also launched 'Think Well', a digital mental health solution, emphasising  the importance of mental well-being alongside physical health. 

Despite global economic challenges, AIA Singapore achieved remarkable growth in 2024,  maintaining its status as the #1 Million Dollar Round Table (MDRT) Company in Singapore for  the tenth year and recording significant increases in its key performance metrics. 

Through these distinguished achievements, AIA Singapore not only sets the standard for  excellence in the insurance industry but also demonstrates a steadfast commitment to helping  Singaporeans live Healthier, Longer, Better Lives. Their success at the Insurance Asia Awards  2024 is a testament to their innovative spirit and unwavering dedication to their clients and the  broader community.