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AIA Australia

Celent Model Insurer Asia 2012 winner for Service

Celent, a leading industry analyst firm focused on the application of information technology in the global financial services industry, encourages insurers to see the issue of service broadly, as one of two pillars of their business (the other being risk management). Excellence in service means providing the information and transactional capabilities to all stakeholders - policyholders, agents, distributors, and internal staff - as they need them.

In its most broad application, service means adopting an end-to-end approach and utilizing a full integrated "suite" administration package. Factors such as required functionality, technology infrastructure and investment budget must be considered in the choice of best approach.

AIA Australia, through their use of the Axelerator Insurance Platform, was awarded by Celent as a Model Insurer for Asia in 2012 for Service.

AIA Australia Case Study

Implementing a rules-driven, STP platform creating an easy-to-use life insurance online application tool tailored for the group insurance market..

AIA Australia was established in 1970 and has grown to be one of the most significant life insurance companies in the country, providing coverage to over 2 million Australians. In 2010, AIA Australia launched an online Group Insurance Application, called LIFEapp which provides a 'self-service' arrangement for members and their advisers to apply for new or increased insurance cover. LIFEapp was designed with members in mind to ensure the process of calculating insurance needs is quicker, easier and more convenient. The quote and application tools with LIFEapp were built using the Axelerator Insurance Platform.

Significant benefits resulting from this project included: