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Vaccine officially launched AXA AXA launches protection products to seize the market and digitalize to improve operational efficiency


Hong Kong launched a vaccination program last week. Many insurance companies have launched related side effects protection products. The first to launch this product is the world’s largest insurance group AXA. Yin Xuanhui, CEO, accepted the "Hong Kong 01

Special interview

Written by: Kwong Yueting

2021-03-01 08:00

Last update date: 2021-03-01 08:00

Hong Kong launched a vaccination program last week. Many insurance companies have launched related side-effect protection products. The first to launch this product is the world's largest insurance group AXA. In an exclusive interview with "Hong Kong 01", CEO Yin Xuanhui said that the company has been responding to the changing times. In response to customer needs, we launched new products. Seeing that the Hong Kong government is about to vaccinate citizens, the company launched the "Vaccine Side Effects Protection" program at the end of December last year. Even if it is not its customer, it can participate for free. The customer response is quite enthusiastic and many peers Also launched similar products.

She continued that this is not the first time the company has launched a new product in the industry. As early as last year during the Lunar New Year and the early stage of the epidemic, the company launched a number of new products, including the "Frontline Guardian" healthcare protection plan and free new coronavirus protection for SMEs.

During the epidemic, the number of visitors to Hong Kong dropped sharply, which greatly affected the local economy.

(Photo by Luo Junhao/Profile Picture)

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The epidemic has been raging for more than a year, and Hong Kong has been switched on and off indefinitely. In addition to the blow to the tourism industry, the insurance industry, which relies on mainland tourists, has a certain impact.

According to data released by the China Insurance Regulatory Commission, the total premium income of effective long-term business in the first three quarters of last year increased by 5.1% year-on-year to 412.7 billion yuan; the premiums of new insurance policies originating from mainland visitors fell 81.9% to 6.5 billion yuan in the first three quarters, accounting for total personal business 6.6%; During the period, the net premium of general insurance business was 32.8 billion yuan, an increase of 8.4%.

Yin Xuanhui bluntly said that in the past ten or twenty years, most of the customers of Hong Kong life insurance were mainland customers. Since mainland customers were unable to come to Hong Kong to buy insurance policies, the livelihoods of local agents who relied on the business of mainland customers were also affected. They had to switch to the local market. market.

"Perhaps the difference is that every single order previously made is a single point, but now the local customer market is a single point, but you can do a little more!" At the same time, the epidemic has also raised the public’s awareness of health and crisis, making the voluntary medical insurance plan. , Deferred annuities, savings insurance, home insurance and other products all recorded growth.

"The local customer business has grown, and the number of entrants is very small."

Yin Xuanhui said that the epidemic has greatly increased the technology application rate of citizens, and the increase is in multiples, which is convenient for them to promote the one-stop insurance and healthy life digital platform Emma by AXA.

(webpage Screenshot)

Last year, 60% of the policies were purchased remotely

The epidemic is dangerous and organic. During the period, the public's acceptance of technology has greatly increased, and many people will use remote insurance.

Yin Xuanhui feels that the remote digital system can make it more convenient for insurance brokers and customers. They don't have to negotiate face-to-face every time. They only need to use the video phone to make an appointment at the end of the order.

"When customers apply for insurance online or face-to-face, they must be clear about the scope of coverage, compensation amount, exclusions, terms, etc., even if the insurance is online, there will be insurance brokers responsible for explaining to customers." She revealed that the company had six The finished insurance policy is purchased through remote insurance, including: voluntary medical insurance, deferred annuity, cancer and stroke treatment protection, etc. However, for savings products or other complex products, customers tend to sign before meeting.

Another benefit of digitalization is to improve operational efficiency. Yin Xuanhui pointed out that in the past, many processes in the insurance industry had to rely on manpower. As the company's business moves toward digital transformation, employees can reduce a lot of cumbersome processes involving manual input of data, and they can switch to more data. Pre-processing (Data cleaning), data integration, data analysis and customer service work.

At present, the company’s biggest application of big data is insurance claims. The company will analyze the original hospital or clinic receipts submitted by customers, and then analyze whether the charge level is reasonable, so as to improve its medical network list; on the other hand, the company can also use big data to understand customers And then recommend suitable products to them.

"The role of the broker is so difficult to be replaced by AI (artificial intelligence). For some complex and large insurance policies, even if you can view the information online, customers will eventually want to ask the broker."

The haze of the epidemic is lingering. Yin Xuanhui said that the epidemic will be over one day, and the public can keep their sights farther and not affect the current low tide.

(Photo by Liao Yanxiong)

Earn premium rebates on the road to encourage customers to exercise more

This battle against the epidemic has a long way to go. To overcome the epidemic, the most important thing is to maintain physical and mental health.

In order to encourage customers to exercise more, AXA BetterMe, a comprehensive physical and mental support service platform under AXA, has set up "AXA Goal". Customers aim to walk at least 10,000 steps a day. After reaching the standard for a few days, they can enjoy rebates in the next policy year. , You can get up to 20% premium rebate.

In addition, the platform also has a "Spirit Gas Station", which allows citizens to experience it for free. By practicing mindfulness and meditation, they can increase their positive energy and relax their minds and bodies.

Yin Xuanhui pointed out that the company is considering to include mental illness as a protection item, but because there are fewer doctors in Hong Kong, the waiting time for patients is long, and it is difficult to design the medical network list, it is hoped that more efforts should be made in prevention and education to let the public listen. Listen to the recording, and have more than ten minutes of meditation and rest every day to relieve stress.

She said: "In addition to meditation, I myself will do more exercises to relieve stress on weekends. I will play Ringfit ("Fitness Ring Adventure") in the near future. If I increase the intensity, it will be very hard!"

Many people find it difficult for women to be promoted to senior management. Yin Xuanhui is the first Chinese female CEO of AXA. She is very busy at get off work and has to take care of her family after work.

She laughed and said that she was "busier after get off work than at work." After teaching her children to do their homework, she had to check email (check e-mail) to complete the tasks that were not done at work. "This is very common. All parents in Hong Kong It's so hard."

She said frankly that as a female management, the most important thing is to be prepared. When she works, she often hopes to exceed her own and others' expectations and improve her personal working ability. As long as she does well within her work scope, she naturally has more opportunities for promotion.

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Source: hk1

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