AIA Insurance Lanka Ltd - Insurer Innovation Award 2022

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AIA confidential and proprietary information. Not for distribution.
Integrated MyPOS

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1. Introduction
2. Progress and Measurements
3. Innovation and Transformation
4. Customer Service and Customer Experience
5. Strategies and Tactics
6. Investment Monitoring and ROI
7. Cloud Enablement and Mobile Strategy
8. Success Stories
TDA | AGENDA

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MYPOS | 1. INTRODUCTION
 MyPOS is an integrated sales tool
 Designed using cloud native technologies on Azure
 A single tri-lingual sales app which provides the agent access to automated underwriting, real-time
analytics, dashboards, financial need analysis tools.
 100% digital journey for both the customer and the agent
 Increased STP to achieve the benchmark of 90% 3-day policy issuance
Customer
Solicitation
Proposal
Submission
Digital Document
Submission
E-Payment
Document
Verification
Automated UW STP
Digital Policy
Issuance
Digital Underwriting
Workflow
Y
ES
NO
100% digital
and integrated
process

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MYPOS | 1. INTRODUCTION

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MYPOS | 2. PROGRESS AND MEASUREMENTS
 Part of the AIA Group TDA initiative and governed by Monthly Project SteerCo’s, KPI Monitoring,
Portfolio reviews, TDA SteerCo’s and TDA group SteerCo’s
0%
100%
Straight Through
Processing (STP)
Actual Target
0%
100%
% of Applications
Submitted Digitally
Actual Target
0%
50%
100%
% of Auto Underwriting
Actual Target
The Integrated MyPOS solution has been the key driver for
achieving many of the KPI targets – both Local and Group

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MYPOS | 3. INNOVATION AND TRANSFORMATION
 At AIA SL digital transformation is a culture and a way of life
 At AIA SL digital transformation concentrates on transforming people
How the Integrated MyPOS Contributed to Organisational Transformation
Culture and a Way of Life Transforming People
Integrated across departments – everyone is involved
with MyPOS
i.e. LCMS and Resource center connects agents to
marketing
Pending workflow connects agents to underwriting
iTracker connects agents to Agency Command Center
and Finance
Simple integrated and easy to use solution – users
that preferred the manual process now prefers
working on MyPOS due its simplicity
Agents are driving continuous change by monitoring
their dashboards and their data
Agents driving agents to go more digital
Company sales strategy is built on being simpler, faster and more connected through MyPOS improvements.
i.e. Web MyPOS, Mobile App MyPOS, MyPOS super app – one stop shop for all requirements of agents

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MYPOS | 4. CUSTOMER SERVICE AND CUSTOMER EXPERIENCE
 Simple FNA (financial need analysis)
showcasing a customer’s financial health
 Submissions are interconnected with the
automated rules engine so that the
submissions will have the least possibility
of having errors
 Integrated with both F2F and NF2F
situations where customer onboarding
even remotely is possible

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MYPOS | 5. STRATEGIES AND TACTICS
Short Term Long Term
Device agnostic solution making it financially viable for the
agent to easily use/purchase the MyPOS device i.e. iOS,
Android and Web Supportive
Additional offline capability with a Mobile App so that
users can use the MyPOS solution on their own mobile
phone as well
Multi-User capability to increase adoption – multiple users
can share the same device but with their individual logins
Proposal submission will only be available through MyPOS
solution
All agent – buy requirements are catered through MyPOS MyPOS will provide agents the ability to submit claims and
servicing requirements on behalf of the customer
E-Submission commissions AI ChatBot to provide automated solutions for agent
queries
Training and knowledge gap identification

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MYPOS | 6. INVESTMENT MONITORING AND ROI
Strict financial monitoring and review during the SteerCo
TDA financial reporting requires the benefit realization to be monitored and updated
under 3 segments
 VoNB (Value of New Business) Upliftment
 Net Opex Reduction (Gross Opex – Recurring Costs
 Claims Savings
VoNB Upliftment
LKR 12.68 Mn
(Up to 2021 Jun)
Net Opex Savings
LKR 7.68 Mn
(Up to 2021 Jun)
100% digital
process for
customers
Lowered TAT for
customers –
faster coverage
after payment
High information
security protocols
for customer
information

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MYPOS | 7. CLOUD ENABLEMENT AND MOBILE STRATEGY
 MyPOS is 100% deployed on the Azure cloud – AIA Cloud First Strategy
 Enabling all cloud native and native benefits
 Integrated with other cloud-based solutions – Digital Document Management
solution on cloud, Azure Logic Apps based Workflow automation, AdobeSign
Remote signature, Azure Cloud Based Data Lake etc.
 Scalable as required
 Web MyPOS  Access to MyPOS through any internet enabled device
 MyPOS Mobile App  Offline Mobile App so that agents without a device can use
MyPOS solution from their own smartphones even without internet connectivity

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MYPOS | 8. SUCCESS STORIES
 We received countless positive feedback from customers and the sales teams for the appealing look and feel
as it was developed with latest, global human centric design principles.
 20% of proposals are issued within the same day with zero human intervention
 54% of proposals are issued within 3-days with minimum human intervention
 12% reduction in the sales submission turnaround time.
 A customer can finish the entire signing process within just 10-15 minutes whereas previously it used to take
around an hour or more to manually fill and complete the documentation.
 With MyPoS, our sales team has full control over their sales process. The tool not only covers the entire sales
process but also provides our sales teams with the facility to keep track of their leads, customer portfolio,
maintain their calendar & to-do lists, to track the progress of their performance in sales and recruitment,
manage their teams and engage with customers while being on the move.
 55% decrease in new sales proposal submission for existing customers due to pre-population of customer
data. This has brought in increased agent and customer satisfaction due to the ease of the process. Agents
now use this as a sales proposition for existing customers as well

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MYPOS | 11. SUCCESS STORIES
 Achieved 24% reduction in proposal submission errors, due to the integrated solution
 Achieved 80% e-submissions (compared to 40% in Mar-2020) due to the solution being device agnostic.
 Agents are able to invest in a MyPOS device at minimum cost due to availability of android and web MyPOS
 The sales process at AIA Sri Lanka (proposal submission, issuance, pending document submission etc.) has
become an end-to-end digital process with 0% paper usage. Additionally with multiple integrations of the
workflow we have seen less travel requirements for the agent in completing the sales process, and thereby
reducing the carbon footprint of our 5,000 agent count
 The MyPOS solution has been a great solution in strengthening our female agent cadre as well. With the new
integrated solution which provides the ability for a complete digital/remote sales solicitation, our female
agents are able to securely and efficiently conduct their sales activities even while at home.

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MYPOS | 11. SUCCESS STORIES