Allianz Life at the fore front of digitisation

  • Believes simplicity wins in delivering greater customer satisfaction
  • Aims to achieve a zero intervention policy & keep improving security

Joseph Gross, CEO of Allianz Life in Malaysia believes that what they have achieved so far is just the tip of the iceberg when it comes to serving customers.

In five minutes or less, your e-policy from Allianz Life Insurance Malaysia Bhd could already be waiting in your email inbox.

Such a service, a first for Allianz Life in Malaysia, is a result of its race towards digitalisation, agile working and paperless workforce. A subsidiary of Allianz Malaysia Bhd, Allianz Life began its push for digitalisation in October 2018.

The company offers a comprehensive range of life and health insurance and investment-linked products and for the financial year 2018, Allianz Life recorded a GWP (Gross Written Premium) of US$575 million (RM2.38 billion) and is one of the fastest growing life insurers in Malaysia.

Allianz Life chief executive officer, Joseph Gross, said aiming to deliver a five-minute e-policy in such a short turn was a steep goal. Its achievement, he says, is a testament to the belief and commitment of its employees and agency force in working towards making processes simple, quick and agile.

“The whole idea behind the e-policy was simple. Say you are having coffee with your life insurance agent and you have just purchased the policy. The ideal scenario we strived for is that you would receive your e-policy in your inbox even before you finish your cup of coffee and we have managed to do just that,” said Gross.

In 15 months, the company has succeeded in creating an agile work environment that encompasses cross-functional teams from various departments. This was followed by having more than three quarters of customers receive their policy or premium updates, new product brochures and payments statements via email or SMS.

In just four easy steps, customers can acquire the policy in five-minutes. First, their agents will have to submit the online application form electronically via the company’s Imagine App. The application will then undergo auto-underwriting and if approved customers will be prompted to proceed with an e-payment via the app and this is followed by the generation of the e-policy. In instances where the policy application requires additional information or requirements i.e. medical check-up, agents will be notified within minutes.

“We believe that simplicity wins in delivering greater customer satisfaction, and more importantly enhancing our agency productivity and service. What we have achieved so far is just the tip of the iceberg when it comes to evolving the way we serve our customers and making things better,” added Gross.

Moving forward the company aims to achieve a zero intervention policy and continue to improve security. At the moment, the company is testing the implementation of a ‘One Time Password’ (OTP) that will substitute the customer’s signature, as well as facial recognition capability. Besides that, the company is also focusing on increasing customer e-communication to 95% by the end of 2020.

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