ALLIANZ Life Insurance, a subsidiary of Allianz Malaysia Bhd, began its push for digitalisation in October 2018.
Allianz Life CEO 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 just four easy steps, customers can acquire the policy in five minutes. First, their agents 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 requirement, that is medical check-up, agents will be notified of these requirements 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. It 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. – Feb 13, 2020
