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

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AIA Insurance has revolutionised the way agents interact with customers, through yet another breakthrough in digital innovation; Introducing 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. D J Weeratunge one of AIA’s Business Development Managers 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.” He added, “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.”

K P Sooriyarachchi, an AIA Wealth Planner 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 customized 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 acclimatized 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.”



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Business

Assetline Leasing recognised at SLIM People’s Awards

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Assetline Leasing Company Limited (ALCL) was nominated for “SLIM People’s Financial Services Provider of the Year” category at the recently held SLIM People’s Awards 2021 at BMICH, Colombo.

As a specialized leasing company with a network of 53 branches located Islandwide, ALCL has been able to carve a name for itself as a leading financial services providers by continuing to fulfill the financial needs people from all walks of life with an innovative and reliable portfolio of leasing and loan products that are geared to improve the livelihood of individuals and families whilst enriching their lifestyles. Access to financial services, particularly by SMEs and entrepreneurs, has always been a key area of ALCL’s focus.

Commenting on the achievement, Ajantha Premasiri, Chief Marketing Officer, ALCL, said; “We would like to extend our sincere gratitude to our valuable and loyal customers, business partners and team Assetline for their unwavering support in securing this nomination in the category of “SLIM People’s Financial Services Provider of the year”.

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DIMO forum focuses on youth skills for employment and entrepreneurship

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DIMO celebrated ‘World Youth Skills Day’ by shining the spotlight on the importance of equipping the youth with skills for employment, decent work and entrepreneurship, through a webinar titled ‘Job Demand and Vocational Education – Fuelling Dreams and Aspirations of the Youth’, held recently.

The keynote speaker at the webinar was a renowned expert in the industry, Mangala P.B. Yapa the Director General / CEO of Employers’ Federation of Ceylon, while the panel consisted of leading Human Resources professionals Dilrukshi Kurukulasuriya the Chief Human Resources Officer of DIMO, Chinthaka Premaratne the Group Director Human Resources of Fairway Holdings and Ishan Dantanarayana the Group Chief People Officer of Brandix. The event was moderated by Yohan Thilakaratne the Head of Corporate Communications of DIMO. Vocational Training is a key attribute in DIMO’s sustainability agenda and the forum ‘Job Demand and Vocational Education – Fuelling Dreams and Aspirations of the Youth’ was the latest initiative of DIMO to empower the dynamic youth with the correct skills.

During his keynote address, Mangala P.B. Yapa stated, “Knowledge, skills and employment are 3 elements that are inter-connected in a complex manner. Today, knowledge has surpassed skills and therefore, receives prominence. However, I believe that knowledge which does not develop skills, does not do justice to society. Through vocational education, what we attempt to do is to develop both knowledge and skills.”

 

 

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CA Sri Lanka Annual Report Awards makes a comeback this year

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In its continuing determination to crown the most brilliant financial reports produced in the country, the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) will present the prestigious Annual Reports Awards competition this year, incorporating new concessions on account of COVID-19, whilst also automating the marking system for the first time in the competition’s history.

Applications for the 56th Annual Report Awards competition 2021 will be accepted from 15th August 2021 onwards. Organisations ranging from multinationals to blue-chip companies, conglomerates, small and medium businesses, state corporations, statutory bodies and even NGOs and NPOs which produce annual reports can vie for this year’s top honours.

Known to promote transparency, corporate governance, sustainability and social responsibility, the competition’s grand comeback this year was announced at a press conference on Tuesday.

The Annual Report Awards commands a history of over half a century, but following COVID, the Institute decided not to proceed with the competition last year on grounds that the competition would not yield the required benefits for the participating companies due to the challenges stemming from the pandemic and the related crisis.

Addressing the press conference, Jayesinghe said that as the sole authority to promulgate accounting and auditing standards in Sri Lanka, the Institute has taken every effort necessary to implement a world class accounting framework, which will result in long-term benefits to the country including bringing in vital investments such as FDIs.

He said that an annual report is recognised as the single most important document for readers and potential investors to understand the financial state of a company as well as its positive contribution not only towards the company’s bottom line but also to the country and society.

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