Allianz Ayudhya announces its business direction for 2017 by continuing its focus on True Customer Centricity (TCC) as its core strategy for sustainable growth. This year, the company will focus on 3 to support TCC, namely, Digitalization, Agency Recruitment and Innovative Protection offerings. The company plans to achieve 32.5 billion baht in total premiums by year end.
Mr. Bryan Smith, President and Chief Executive Officer of Allianz Ayudhya Assurance PCL said that in 2016, the insurance business has been impacted by volatile interest rates. However, with the continued focus the company had on True Customer Centricity (TCC), Allianz Ayudhya had made many significant achievements during the year Including: 1) Highest Customer Satisfaction: In 2016 the company ranked number 1 in Net Promoter Score (NPS) against all Life Insurers achieving the loyalty leader position in the Thailand Life Insurance market; 2) Claims Leadership : Thailand customers ranked Allianz Ayudhya as having the best claim service in Thailand; 3) Leading Employee engagement – The Internal Allianz Engagement Survey for all staff of the company shows that our employees are the most commitment of all Allianz operating entities worldwide. All of these achievements reflected our commitment to improving our organization, both internally and externally with TCC.
Our business directions for 2017 focus on 3 areas:
1) Go Digital with all stakeholders.
Allianz Ayudhya Thailand has been selected by Allianz in Asia to be the Digital Hub for Asia Pacific. Key developments for the region are being developed in Thailand for rollout across Asia including:
Customers: Several platforms and applications have been developed to serve customers’ needs and bring them closer to our brand. For example, ‘Online Fast Quote’ is a portal which customers can easily search for their preferred insurance products or coverage for themselves and get instant quotations. ‘My Allianz’ is a comprehensive after-sales service allowing customer to track their policies and get support online. ‘Healthy Living’ is a unique content platform aimed at engaging customers and acting as a CRM tool for point’s collection and privilege redemption.
Agency: Digital tools have been integrated as part of agency working routine to ensure effective sale process. ‘Allianz Discover’ is a good example of a tool where the project has been developed in Thailand and will applied to the Allianz agency forces across the Asia Pacific region including Taiwan, Malaysia and Indonesia.
Employee: New technology has been introduced to support operations i.e. Robotics systems. The digital initiatives in this area will help to reduce the complexity of operational processes and accelerate services to our customers while supporting the move to a “paperless” environment in the office.
2) Agency Recruitment
For the Agency channel, this is the Year of Recruitment. In 2016, new agents contributed 50% of production. Recruitment of new argents is critical to ensure we have enough manpower to support our growth, especially in protection products and Unit Linked offerings. The company plans a series of seminars called ‘Life Changer’ where the top experienced agents share and inspire new generations by their successful stories. The seminars run throughout the year and the first event on January 15th had great feedback. We plan to have 6,500 new agents join the company by year end.
3) Protection leadership
Allianz Ayudhya continues to innovate and offer life and health protection products. Under the environment of low interest rates and combined with the need of customer for support for increasingly high medical costs, protection products are the key for the future growth of the Life industry in Thailand. And for those who seek both protection and a good return, we also have introduced the “Unit-Link” product in 4Q of 2016.By year end, we plan to grow the protection proportion of our business to 42% of total Agency new premium,
“Digital acts as a growth engine for our company this year. Combined with the recruitment of new agents to boost the distribution of Protection and Unit Linked products, we are confident that the company will achieve our target of 6.5 billion baht annualized new premium and total premiums of 32.5 billion baht by the end of 2017,” Mr. Smith concluded.
Customers can search through Allianz Ayudhya Care Network hospitals where health checkup and medical treatments are provided for individual, group and personal accident insurance, as well as life insurance medical examination.