SINGAPORE--AIA Singapore has launched what it touts to be the insurance industry's first interactive point-of-sale (iPOS) system, and says it is aimed at helping agents cut down time in getting their policy applications submitted and enable customers to receive insurance advice and coverage as quickly as within a day.
During the launch here Wednesday, Tan Hak Leh, CEO of AIA Singapore, said the company is the first insurer globally to launch a standalone, mobile point-of-sale system via an app running on Apple's iPad tablet. The app will help facilitate the whole process from fact-finding and analysis of the customer's financial health to recommendation of suitable policies and submission, Tan said.
The app allows users to fill up the form without internet connection.
According to William Lisle, AIA group EVP and group chief distribution officer, the new offering is to attract the busy "generation Y individuals" as they can now obtain insurance coverage within the day rather than sit through several meetings.
Lisle also told Marketing that the app is mainly promoted through agents. Currently around 1200 agents in Singapore are actively using the product.
The iPoS system on an iPad follows the successful launch of AIA Singapore’s fully mobile iPad Sales Quotation System (SQS) in January this year which saw more than 70% of AIA’s agency force adopt the SQS.
Key Features:
Fully secure digital process - Provides a one-stop shop from AIA products, financial review through to
signed e-applications and e-submissions. Allows our AIA FSCs to provide
customers with comprehensive financial advice.
Insured as fast as within one day - E-application forms are electronically submitted for underwriting.
Traffic light navigations - The iPoS system prompts the FSCs to verify that information included is sufficient and correct before the forms can be e-submitted
Protection iBook application - The complementary Protection iBook application is a pre-sales tool kit that helps customers better understand financial planning and insurance. It consists of AIA Protection Calculators, product information and other useful resources, for AIA FSCs to initiate conversations with customers which is done on the iPad.
iPoS will be the key component in our training programmes for new recruits, which will raise their productivity.With this innovation, these new FSCs will be able to effectively and efficiently provide customers with comprehensive financial advice, at their customers’ convenience
