AIA’s new ‘MyPos’ redefines the way agents do business

AIA Insurance has revolutionised the way agents interact with customers, through yet another breakthrough in digital innovation, the all-new AIA MyPoS – a cutting-edge solution designed to give AIA Wealth Planners and Bancassurance Executives everything they need to make a sale, in a single app. 

This all new MyPoS, which is based on much research and the experience of AIA’s distribution excellence across Asia has completely changed the paradigm. 

To start with it has introduced a much deeper needs analysis tool, which engages the customer, provides insights into their financial and insurance needs and lets AIA’s Wealth Planners and Banca Executives provide advanced life, health and protection solutions in simple, easy terms, in the new MyPos, which operates on the Android and IOS platforms. It generates insurance quotes and enables comparisons, real time, while AIA’s distribution engages with their prospective customers. 

The entire process from lead generation to prospecting and proposing a product has been seamlessly integrated along with an underwriting rules-based engine to enable straight through processing of a large portion of policies. In a large percentage of cases, policies that are entered through MyPos, can be issued within 24 hours with minimal human interventions, thus making the experience for the customer easy and improving the productivity of AIA’s distribution team significantly. 

This is a pioneering effort in digital transformation by AIA to make the insurance business faster, easier, more precise and more efficient. 

An AIA Business Development Manager, D.J. Weeratunge explained: “The new MyPos has significantly reduced the time it takes to canvass new business, thereby enabling me to be far more productive than I could have imagined! My interactions with customers are much smoother now and the customers really do seem to appreciate that we respect their time and address their requirements real time. Our main goal is to make it convenient for customers to do business with us and this new MyPos is a revolutionary tool that allows us to do just that. My experience with it has been very positive and I am happy to see AIA leverage on innovatory digital assets to enhance our customer’s experience.”

An AIA Wealth Planner, K.P. Sooriyarachchi said: “The new MyPos has made our lives so much easier. Everything we need when approaching a potential customer is at our fingertips in one easy to use, integrated system and it really does help us to offer personalised and customised service to our customers to best suit their needs.”

AIA’s Deputy CEO and Chief Agency Officer Upul Wijesinghe noted: “This cutting-edge solution is a result of our commitment as a company to accelerate innovation and drive digital adoption while simplifying the process of insurance sales. We are constantly striving to make our internal processes faster and better and also to ensure that the customer’s buying and onboarding journey is made easier. The convergence of human and digital has the potential to transform the business of insurance and that’s exactly what this new MyPoS does. Putting this new and upgraded digital tool in the hands of our Wealth Planners empowers them to provide superlative service to our customers through a seamless sales journey across channels.” 

AIA’s Chief Technology Officer Umeshi de Fonseka added: “This is a world class tool, which is used in many other AIA business units and we’ve acclimatised it for the Sri Lankan market to ensure that our customers and Wealth Planners benefit from the best practices. At AIA, we believe digital transformation to be the key enabler in our quest towards being the #1 insurer in Sri Lanka. AIA’s MyPoS is the latest addition to our portfolio that uses next generation platforms with human centric design principles for ease of use. It is a fully integrated tri-lingual platform, which seamlessly integrates with the core system, workflows, documents management and payments as well the AIA customer portal. It facilitates automated underwriting, real-time analytics, dashboards to monitor progress of Wealth Planners and has advanced financial need analysers with predictive features. It also has offline functionality making it accessible to all corners of the country and has set a new and risen benchmark for the industry and simplified insurance disruption.”