AIA Hong Kong has always been steadfast in the development of insurance technology (InsurTech) to continuously enhance customer experience. The Company today announces the launch of the innovative “3D Protection Index”1 service on its mobile app “AIA Connect”, offering customers an instant check on their protection gap at a glance with respect to the 3Ds: Diversity (diversity of cover), Depth (depth of cover amount) and Dependants (protection of dependants). Supported by big data processing, “3D Protection Index”1 analyses the protection needs of different customers. It makes use of artificial intelligence (A.I.) and cloud computing technology to show the difference, or protection gap2, vis-à-vis “Customers Like You” in terms of the five categories of cover: Life, Medical, Critical Illness, Savings and Accident. Hot Products are provided for reference and customers can contact AIA financial planners immediately via “1-Click Connect”3, a newly-added feature, for a detailed analysis of their protection needs. The enhanced online and offline communication and interaction help customers to close the protection gap right away for themselves and their families according to their needs.
Ms. Bonnie Tse, Chief Customer, Strategy and Transformation Officer at AIA Hong Kong & Macau, said: “With a forward-looking vision, AIA embraces its customer-centric philosophy and continues to evolve and innovate in InsurTech to enhance customer experience. We understand that many people might consider their personal cover inadequate and would like to get more information, yet they have no idea how to do it. Therefore, we introduce the innovative ‘3D Protection Index’ service that enables customers to review anytime – from the 3D perspective – their latest potential protection gap. This will allow customers to better prepare and plan for adequate protection throughout different life stages to live Healthier, Longer, Better Lives.”
New Technology Offers Instant Review of 3D Protection Gap
A brand-new service in the market, the “3D Protection Index” aims to heighten customers’ awareness on protection and helps them explore their personal protection needs and close their potential protection gap. Among the new technologies used in this service are:
- Big Data Automation: As the insurer with the largest number of policies4 in Hong Kong, AIA Hong Kong uses the centralised Super Cloud Database, which features automatic update around the clock, to process different data including insurance policies, health and digital footprint, and to analyse customer dynamics, thereby generating an integrated customer needs overview that features a meticulous analysis of the protection needs of different customers.
- A.I. On Cloud: Introduces the concept of “Customers Like You” for protection analysis and uses artificial intelligence cloud computing to compare the customer with other customers with similar behaviour dynamics with respect to the five major covers of Life, Medical, Critical Illness, Savings and Accident. The difference of such comparison, i.e., the “3D Protection Gap”, will be shown graphically on the AIA Connect mobile app.
- Personalised Portfolio Analysis: AIA Hong Kong has a large team of experienced professionals specialised in data science to analyse data and build propensity models for an in-depth understanding of customers’ preferences and behaviours on insurance purchases. The team provides customers with personalised analysis on their protection needs, enabling them to recognise their potential protection gap and presenting AIA Hong Kong’s popular protection plans for reference. AIA financial planners will also provide detailed needs analysis to help customers close the protection gap for themselves and their families according to their needs. Moreover, the team will refer to the informed choice and behaviour of customers as “feedback” to the database for continuous and ongoing enhancement of its computing and analysis performance.
The “3D Protection Index” graphically visualises the difference between the existing cover and the ideal cover of the customer, who can also check the protection gap in individual cover categories, helping customers plan for their ideal protection and preparing them for an ideal life in future.