AN UNPARALLELED DISTRIBUTION FORCE

Q: What is the competitive edge that the AIA distribution team has in the market?

Upul Wijesinghe (UW): The AIA distribution team gains a competitive edge from the financial stability of the company and reputable AIA brand as a leading Pan-Asian life insurer. This distinct position facilitates our Wealth Planners’ interactions with customers.

The significance of financial stability becomes apparent as a market differentiator especially considering our management of long-term funds like pensions. And this assurance fosters confidence among customers that their investments are secure, ensuring a financially steady retirement supported by AIA’s expertise.

This commitment is reinforced by our consistently high capital adequacy ratio, which reflects the company’s ability to pay claims – a pivotal factor in our customers’ consideration.

Moreover, as a company with over 100 years of experience, our distribution team garners trust as a steadfast presence in the market. Customers find reassurance in knowing that AIA will be a reliable partner in the long term, offering dependable health funds to address post-retirement healthcare needs.

Our wide-ranging product portfolio spanning pensions, health and protection equips our team to serve a diverse clientele effectively.

Many customers can benefit from complimentary online telemedicine, a service that reduces their daily medical expenses and enhances our value proposition. We also offer an entire ecosystem of wellness solutions that helps customers stay healthy and happy.

Additionally, our teams leverage advanced technological tools to engage customers across various platforms, ensuring seamless digital interactions and end-to-end transaction support.

Q: How does the distribution team add value to the company’s performance?

UW: Our customers are pivotal to our performance – and their understanding of our products and services holds paramount importance. Consequently, the organisation has made substantial investments in the comprehensive training and development of our distribution team, improving the quality of service extended to our customer base.

Simultaneously, this commitment to ongoing training equips our distribution team with a well-defined career path, empowering them to establish their own enterprises within our framework. We firmly believe that a contented distribution team invariably translates to more satisfied customers.

Q: What training is provided to the sales force in terms of technical knowledge and soft skills?

Senaka Rajapakse (SR): In terms of technical training, our sales force receives comprehensive training in various critical areas including product technicalities, industry regulations, underwriting, risk assessment and claims processing.

In the realm of product knowledge, our sales force undergoes rigorous training covering the entire product range offered by our company. This training delves into policy features and premium structures, as well as exclusions and limitations.

Equally important is our sales force’s familiarity with the latest industry regulations and legal requirements. This ensures that they are well equipped to provide customers with accurate advice that aligns with the most up-to-date standards.

In underwriting and risk assessment, our sales force actively engages in the initial phases of underwriting, gaining invaluable insights into analysing risk profiles. This hands-on involvement empowers them to better understand and evaluate risk dynamics.

And in the final claims process, our teams are trained to assess customers, and navigate the process by informing them of exclusions, limitations and other pertinent details.

In the area of soft skills, our aspiration is nothing short of excellence. Effective sales skills are vital and our teams are well groomed in this regard. Communication skills take centre stage, complemented by the art of active listening and adept networking.

Customer service training is instrumental in managing expectations and navigating challenging customer scenarios to ensure a superlative customer experience.

The art of relationship building with clients is another area we cover in our soft skills training. This strategic focus on developing enduring client rapport contributes significantly to fostering lasting customer loyalty to our company.

Furthermore, our teams receive comprehensive training in negotiation techniques and time management strategies. These skills are instrumental in prioritising customers effectively, ultimately enhancing our service quality and overall efficiency.

Q: How has the distribution team supported customers during the economic crisis?

SR: Amidst the crisis, our sales force demonstrated unwavering commitment by improving communication initiatives aimed at keeping our valued customers informed of relevant policy updates.

We recognise that times of uncertainty often prompt customers to reassess their policies, making these updates particularly crucial. This proactive approach proved to be an invaluable service, providing reassurance during the turbulence of uncertain times while establishing our position as a pioneer in bancassurance.

Additionally, we harnessed the potential of digital solutions to enhance convenience across the customer journey. Notably, the introduction of e-policy documents served as a strategic countermeasure to mitigate challenges posed by the crisis including curfews and transportation limitations.

By enabling customers to access vital documents seamlessly, we reaffirmed our dedication to uninterrupted service delivery. By leveraging video-conferencing and online meeting platforms, we provided clients with the means to engage with us remotely, ensuring their needs were met efficiently and without compromise.

Furthermore, we spearheaded the promotion of electronic payment avenues, championing innovative mechanisms such as Easy Pay and QuickPay. This strategic emphasis on fintech solutions not only streamlined payment processes but also exemplified our commitment to adaptability and modernisation.

Providing a digital platform for the exchange of documents expedited and simplified the claims procedure, offering an elevated level of service.

It is evident that insurance has emerged as a pivotal requirement over the past few years, which is reflected through the robust financial performance of AIA. This underscores the important role we played in safeguarding the interests and wellbeing of our customers, even amid adversity.

Q: And how does the company support the sales force in achieving targets and furthering their careers?

Chanaka Liyanage (CL): AIA has equipped its Wealth Planners with an unparalleled array of products spanning diverse categories that address customer needs – ranging from pensions, health, protection and investments to savings.

This suite is supported by cutting-edge digital tools and comprehensive technical training, positioning our Wealth Planners with a competitive advantage within the market.

The strategic alignment of our solutions to prevailing necessities empowers our Wealth Planners to foster deeper customer connections. A testimony to this is our newest health insurance cover – the AIA Health Passport, a comprehensive health insurance cover to provide access to the best healthcare both locally and globally.

At the heart of our support system is the AIA training academy, one of the largest sales academies in Sri Lanka’s insurance sector with over 25 accredited trainers versed in AIA Group’s best practices. This academy is a stronghold of learning and development for our Wealth Planners.

The transformative impact of this training nurtures adept sales professionals. Notably, AIA Sri Lanka has showcased a definitive career path for over 4,000 Wealth Planners, and 500 Wealth Planner Managers and Business Development Managers.

AIA’s commitment extends to a robust rewards and recognition framework. Our Wealth Planners experience accelerated career progression, resulting in them owning their own branch office, all while earning recognition and an increasing income.

One of the highest achievements is entry into the esteemed AIA President’s Club, which is organised by AIA Group. This elite recognition includes overseas tours with this year’s tour being in Spain and last year’s in Australia. Winning annual awards at AIA makes them eligible for overseas trips with this year’s offerings encompassing London, Dubai and Azerbaijan.

This incentive structure serves as an inherent motivational push for our ambitious Wealth Planners.

Q: Could you describe how AIA’s digital transformation has enhanced customer care and convenience?

CL: Technology has been a key enabler of excellence at AIA. Our digital tools empower Wealth Planners to seamlessly finalise policies using digital signatures, eliminating the necessity for in-person meetings with customers. This transformative capability has redefined customer engagement.

AIA’s customers benefit from an array of online resources that improve customer convenience. Our online platform facilitates policy and premium renewal status checks while the dedicated app QuickPay streamlines direct payments to AIA. Furthermore, our range of digital payment methods is a testimony to our commitment to enhancing customer ease and satisfaction.

– Compiled by Yamini Sequeira
INTERVIEWEE DETAILS

Upul Wijesinghe
Deputy CEO
Chief Distribution Officer

Senaka Rajapakse
Director
Partnership Distribution

Chanaka Liyanage
Chief Agency Officer

COMPANY DETAILS

Telephone:2310310 | Email:lk.info@aia.com | Website: aialife.com.lk