AWARDS DINNER: 1 November 2017
Marina Bay Sands Expo & Convention Centre, Singapore

Region lauds its very best at the 21st Asia Insurance Industry Awards

Asia's insurance stars shine bright

And then there were 16. Sixteen winners, the best of the best of the insurance industry, edged out hundreds of entries to the 21st Asia Insurance Industry Awards this year.

These deserving laureates demonstrated true grit and excellence in their awards journey, prevailing in the process during which hundreds of submissions were first parsed to 40 finalists, which were then subject to another gruelling round of judging before being whittled down to the 16 champions. Tonight, each of them takes home best of the year titles in their categories at the Awards Gala dinner, held in conjunction with the 14th Singapore International Reinsurance Conference.

India shone extra bright for two Indian insurers to sweep three titles, while Allianz too saw its name etched in three trophies. Bajaj Allianz General Insurance Company of India proved that emerging markets have in several ways leapfrogged their developed peers in technology, by clinching the Technology Initiative of the Year Award and sharing the Digital Insurer of the Year title—introduced for the very first time this year—with Cathay Life Insurance Co Ltd (Taiwan).

This year saw not just new categories, but also new entrants. Lloyd’s Asia was honoured with the General Reinsurer of the Year title, a first-time candidate turned first-time champion!

The Personality of the Year award went to Mr Chris Wei, who is widely known for being a leading proponent of digital insurance and has led Aviva in blazing multiple achievements and technology partnerships on this front.

Meanwhile, the Lifetime Achievement Award was bestowed on industry veteran Mr Mark Tucker, with his immense and ineffable achievements at AIA and Prudential during the course of his career, benefitting their millions of life insurance policyholders in Asia.

Mr Sivam Subramaniam, Editor-in-Chief of Asia Insurance Review, organiser and host of the Awards gala attended by around 500 guests, said: "Congratulations to all! We salute the finalists and candidates, for their part in being building blocks to the success of the industry. The 16 winners carry the weight of the Awards to another level, acting as brand Ambassadors of Insurance in Asia and will have the duty to boost the value of insurance as a necessity in life and business.

"It is my honour to also thank the panel of 23 judges for their CSR to the insurance industry in diligently discharging their duties in the search for excellence.”

Hosted annually by Asia Insurance Review, the AIIA is now in its 21st year and is a much sought-after mark of excellence and peer group endorsement for insurance players in Asia. It is held in high regard for its well-defined criteria and transparent judging process, and is audited by KPMG.

Sponsors this year include RGA, Peak Re, Aon, AIG, Tokio Marine, Toa Re, MSIG, Muang Thai, Swiss Re, Remark, QBE and Medix.

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Salute the Winners of AIIA 2017


Life Insurance Company of the Year

Muang Thai Life Assurance PCL

Muang Thai Life Assurance PCL’s vision “to be the customer’s trusted lifetime partner through innovative life and health solutions by putting customers at the heart of everything we do” has driven it to success. Using technology to understand customers, while staying open, caring and collaborative, has helped it become a superbrand life insurer, and won the hearts of the locals.

Sponsored by:

In 2016, Muang Thai Life Assurance Public Company Limited (MTL) was the secondlargest life insurer by total premiums. It has also been the market leader in both new business premium and bancassurance for four consecutive years, with a 19% CAGR.

The insurer’s core values of “Customer Centric, Creativity, Commitment to success, Collaboration and Caring” have played a crucial role in establishing solid foundation and representing MTL’s corporate culture and business practice.

MTL pioneered customer loyalty programmes in Thailand’s insurance industry. The “Muang Thai Smile Club” continues to provide enjoyable activities and privileges to customers, counting more than 1 million members today. It has implemented business intelligence, while a new customer analysis tool “HearSay” promoted social engagement between agents and customers, and allowed the insurer to monitor customer lifestyles via social media. Leveraging technology paved the way for MTL to then adapt and develop products in response to customers’ lifestyles.

Creativity has also spurred MTL to develop unique products and services to differentiate itself from others. It launched various innovative health insurance products, such as a critical illness policy for diabetes care, exemplifying its leadership in taking specific customer needs into consideration. Its “Fuchsia” Innovation Centre is an out-of-the-box concept to integrate ideas.

As a recognition of success, MTL has won many awards in its home territory, most notably the “Life Insurance Company with Outstanding Management Award”, which was bestowed on the insurer for 10 consecutive years by the Office of Insurance Commission Thailand. MTL takes risk management seriously, and has been certified with the ISO 22301:2012 (Business Continuity Management System) standard.

At MTL, collaboration is a key driver internally and externally. A “Muang Thai Link” platform enables employees to communicate and share their ideas, while on the external front, MTL has built a strong multi-distribution channel as its strategic advantage. It has joined forces with its partners to develop a training roadmap, leading to great cross-functional teamwork.

As a caring insurer and employee, MTL has provided various touch points, such as a 24/7 call centre and a MTL Global Connect service so customers have access to coverage even when abroad. It partnered with the Islamic Bank of Thailand to offer several Takaful products in order to serve Islamic customers’ needs. The insurer has also launched several awareness initiatives to educate the public, such as a “Safe Drive No Accident” campaign. Its firm’s adherence to corporate governance, especially the disclosure and transparency policy has been recognised via a slew of ethics and CSR awards.

MTL truly believes in being a “Customer Centric” organisation, embracing all of its corporate core values to provide excellent products and services.

Reinsurance Group of America, Incorporated (NYSE: RGA) is a global leader in the life reinsurance industry, with approximately US$3.1 trillion of life reinsurance in force. From its world headquarters in St. Louis, Missouri, USA. and operations in 26 countries, RGA provides expert solutions in life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development and financially motivated reinsurance.

After more than four decades of growth, RGA has become one of the world’s most highly respected reinsurers, recognised for expertise in risk assessment and capital management, its innovative approaches and customised solutions, and its unwavering commitment to its clients.


General Insurance Company of the Year

Apollo Munich Health Insurance Co Ltd

Apollo Munich Health Insurance Co Ltd has been in existence for just a decade, but has achieved several industry-firsts in its products. Its use of digital solutions in distribution and wellness programmes has resulted in engaged customers and excellent growth.

Sponsored by:

Apollo Munich Health Insurance Company is a joint venture between integrated healthcare provider, Apollo Hospitals Group, and the Munich Re Group. In the short span of a decade since its 2007 launch, it has achieved a number of firsts in India for its products: lifelong renewal, no sub-limits, no claim-based loading and co-payment, portability, restore and multiplier benefits and the first standalone dengue product. These have influenced regulation and also inspired other insurers.

The insurer was a pioneer in offering customised and integrated healthcare financing with healthcare management for corporate clients. Its wellness programmes, tailored to participants by health coaches, hand-hold clients through their journey to improve their health conditions, monitoring risk factor levels for those with chronic diseases and coaching them into a healthier lifestyle. The personalised health coaching helps the insurer to establish a special bond with each participant.

Apollo Munich has deep-rooted local knowledge, which helps the insurer delve deep into social realities and the market needs of healthcare in India. It conducts regular market research to keep a table on shifting sentiments, thus allowing for the development of products to cater to the changing needs of society. It helps its intermediaries keep updated on the latest technologies and market trends.

Innovation has helped the insurer to revolutionise its processes. Its digital distribution model, AMPower, has reduced policy issuance service from above 15 days to seven minutes, and over 60% of its advisers have used the tool to conclude sales, reflecting the insurer’s emphasis on shifting to digital selling by using technology and tablet-based distribution.

Its claims settlement is at 90%, higher than the industry benchmark. It has created a dedicated customer portal to offer seamless services to customers, launched a “Health Jinn” health app to help them fulfil their health goals and walk to good health. It uses social media to create awareness about health insurance and reach out to youth. Its campaigns such as #HealthyMarching, have been highly successful in generating a movement for healthier living.

During FY 2016-17, Apollo Munich achieved a GWP of INR1300 crores (US$199.6 million), reflecting a growth of around 17% year-on-year. It is the fastest insurance company in India to reach a break-even point and made profits in the last three years. In the last FY, its profit increased by 1,674%. The company has achieved an impressive growth rate over last seven years, a CAGR of 41%, reflecting the success of its business formula in the mere decade that the insurer has been in operation.

Peak Re is headquartered in Hong Kong with shareholder funds of US$909 million as of 30 June 2017. It is authorised by the Office of the Commissioner of Insurance (took over by Insurance Authority from 26th June 2017) and is rated “A-” by A.M. Best, a leading international insurance industry credit rating agency. The Company is backed by Fosun International Limited (HK.656) and International Finance Corporation, a member of the World Bank Group, which have respectively own 86.93% and 13.07% stakes in the Company. Peak Re offers reinsurance services covering a range of lines across Asia Pacific, EMEA and the Americas, tailormaking risk transfer and capital management solutions to best fit clients’ needs.


Educational Service Provider of the Year

Australian and New Zealand Institute of Insurance and Finance

ANZIIF has continued to demonstrate market leadership through the introduction of innovative education and training services that fulfils the dynamic needs of the industry. It has also actively launched numerous new standards and certifications, some of which are a result of its successful collaboration with a plethora of overseas partners, to enhance the professionalism of insurance executives.

Sponsored by:

ANZIIF offers a wide range of educational services for the industry from traditional modes of education to interactive training modules to promote greater competency across the various segments of the business, as well as promote understanding of the Insurance Broking Code of Practice and Life Insurance Code of Practice. It has also held professional development events across Australia, New Zealand, Hong Kong and China. These included conferences, a course, workshops and award ceremonies.

ANZIIF substantially increased its online professional development library with over 300 new articles, videos, whitepapers and multimedia activities, on top of its existing Journal, a widely-read insurance publication that delivers technical content to a readership of about 50,000. The learning ANZIIF offers embraces technology to produce an enhanced learning experience. Its digital learning makes use of multimedia, audio-visual, case studies and Q&A learning. Real-world online scenarios allow students to demonstrate critical thinking, while Gamification of assessment structures help professionals to invest in the learning experience

Responding to the market’s need to address changes brought about by digital disruption, the ANZIIF Insurtech Conference, the first InsurTech industry conference held in Australia, took place in February 2017, attended by almost 300 and oversubscribed. ANZIIF also exercised InsurTech thought leadership, with 12 presentations at industry conferences and commentaries in 26 industry publications during the period under review.

In view of upcoming developments, ANZIIF developed training for life insurance and broking specifically targeted at the new Codes of Practice to be introduced in those two areas. It organised roundtables addressed at life insurance, careers in insurance and carried out broker research. 2016 saw ANZIIF launch a series of new professional and educational standards. A new Professional Standards framework defines the knowledge, skills and attributes required for particular job roles and provides a framework for education and training programs provided by the institute and defines the educational standards for insurance professionals in Australia.

Come 1 July 2017, all claims and underwriting professionals in life insurance in Australia must have completed mandatory training.

  • Broking Code of Practice training was developed and provided free for all members to ensure the understanding of and compliance with NIBA’s Broking Code of Practice.
  • Careers in Insurance roundtables were held in Melbourne and Sydney to discuss the dissemination of the Careers in Insurance education program in high schools and universities to increase the awareness of insurance as a career and ensure quality candidates into the industry.
  • Broker research was conducted across ANZIIF and NIBA membership bodies to understand the attitude brokers have towards further education and professional development with the aim of producing effective content for the sector.

Aon Benfield, a division of Aon plc (NYSE: AON), is the world’s leading reinsurance intermediary and full-service capital adviser. We empower our clients to better understand, manage and transfer risk through innovative solutions and personalised access to all forms of global reinsurance capital across treaty, facultative and capital markets. As a trusted advocate, we deliver local reach to the world’s markets, an unparalleled investment in innovative analytics, including catastrophe management, actuarial and rating agency advisory. Through our professionals’ expertise and experience, we advise clients in making optimal capital choices that will empower results and improve operational effectiveness to the broadest portfolio of integrated capital solutions and services. To learn how Aon Benfield helps empower results, please visit:


Innovation of the Year

MetLife Asia

For introducing a virtual reality customer service platform through which customers can interact with an insurance expert avatar, and thereby providing a quantum leap in customer convenience and bringing customer experience to a whole new level, MetLife Asia wins the title of Innovation of the Year.

Sponsored by:

In end 2016, MetLife Asia’s innovation centre LumenLab introduced conVRse, a global virtual reality (VR) customer service platform designed to revolutionise interaction between insurers and customers. It is said to be a pioneering, VR ondemand experiential customer servicing platform around the world

LumenLab piloted conVRse in India to address customer expectations for fast and convenient access to quality insurance services. Despite strong market growth, India’s insurance market remains inefficient with a reliance on paper documentation and outdated systems. Customers typically have unsatisfactory experiences at physical branches due to insufficient infrastructure to handle a large number of customers across a wide geographical area.

Harnessing the Indian population’s rapid adoption of smartphones and growing VR ecosystem, MetLife developed conVRse to reinvent face-to-face customer engagements and create a stronger emotional connection with customers while addressing servicing challenges. The initiative differentiates the insurer from its competitors in one of the most crowded and competitive markets in Asia, where there has been increasing price competition and commoditisation of insurance products.

The development of conVRse was based on in-depth research, including polling, customer interviews and focus groups on customer needs. The initiative creates an immersive and personalised experience, where customers can access MetLife’s insurance expert “Khushi”, a virtual avatar with a human voice powered by any one of MetLife’s insurance experts, by using a simple VR headset such as Google Cardboard or Samsung Gear VR with a mid-range smartphone.

The experts are able to personalise the content shown to customers, including policy details, images, and videos. conVRse allows customers to view and update their policy details, have service requests executed in real-time, enquire about the status of their claims, complete the Know Your Customer process through an immersive and interactive experience.

Since its launch, conVRse has been rolled out in 15 branches across 10 cities, with over 90% of customers using VR saying they were happy with it and would prefer it over a face to face interaction. The Insurance Regulatory and Development Authority of India (IRDAI), which officiated its launch, sees the potential of the platform to transform customer experience.

Given the positive response to the initial conVRse rollout, MetLife is optimistic about the wider commercialisation of conVRse to enhance cost optimisation and service value in other markets, and plans to extend the solution across the region with more services offered, moving from onboarding to settlement. In the long term, it plans to launch conVRse to reduce or remove the need for customers to visit physical MetLife branches, so that it will attain true self-servicing by a conversational artificial intelligence(AI) based assistant.

Established in 2006, Medix is a global and leading provider of innovative, high quality, medical management solutions. It has regional headquarters in London, Hong Kong and Tel Aviv, and its client base exceeds 2 million members in over 90 countries. Medix offer its clients – primarily global health & life insurers, financial groups, large corporates and government institutions – significant value-added services in the world of healthcare. Medix’s team comprises 300 in-house doctors alongside nurses and medical admin teams and a quality accredited global network of over 3,000 specialists and 1,500 leading hospitals.

Medix is proud to provide its customers with proven better medical outcomes, while controlling medical cost inflation. For example, on a yearly average, Medix has changed the initial diagnosis in 20% of the cases and improved treatment in 43% of the cases. By doing so, Medix provides its customers with fast-track solutions to the right diagnosis and optimised treatment pathways. In 55% of the cases, medical cost savings were achieved by implementing objective quality medical care. This has led to a significant improvement in overall medical quality, efficiency and cost management.

Further, Medix also provides disease prevention management services, clinical strategy consultations and medical governance services to insurers, large corporates and government institutions.

Believing that the accessibility, quality and sustainability of medical care are important components of social rights, Medix is very passionate about these issues and is globally fully dedicated to these activities.


Service Provider of the Year

Medix Global

Medix Global’s unique service models have helped to make quality healthcare accessible to insureds across the globe, while improving medical case management and cost optimisation for its clients, and minimising misuse and overuse of treatment solutions. Its contribution to sustainability in premiums and ensuring that medical cost inflation is responsibly controlled make it a deserving Service Provider of the Year laureate.

Sponsored by:

Established in 2006 with offices in Hong Kong, London, and Tel Aviv, the Medix Group is a global healthcare services company with a customer base of over 1.8 million people in over 90 countries. In addition to nurses and operational teams, it employs over 300 in-house doctors and maintains unique and longstanding professional relations with medical specialists and facilities globally. It is placed at a unique intersection in the global healthcare landscape, between payers, providers and patients.

Over the years, Medix Global has developed unique service models, which advance accessibility and implementation of quality healthcare globally while ensuring that medical cost inflation is responsibly controlled. It has helped to address challenges, such as disparities in accessibility to quality medical care across geographies, and no doctor being able to take a holistic view of diagnosis due to ever-more specialised and fragmented healthcare. Bridging these gaps requires a delicate balancing of the competing interests of providers, payers and patients.

Medix has developed a range of services, divided into Healthcare Management Solutions and Medical Governance (MediGov); both focus on the accessibility and implementation of quality medical care. For the former, Personal Medical Case Management service addresses both the patients’ need for certainty of personalised clinical solutions and insurers’ need for cost efficiency, via a global one-stop shop for access to quality care.

The use of innovative digital tools enables secure global sharing of the expertise by leading specialists, which is then implemented locally. These tools include a proprietary web based electronic medical records, a secure web-based radiology file uploading and sharing system and unique medical data analytics tools.

Medix’s model embodies a change in approach towards provisioning of private insurance services, transitioning it from health payer to a health player by positively impacting the quality of care administered to members. These services are offered in Asia by through Medix’s partners, AIA and AXA.

For MediGov, Medix’s services provide insurers and corporates with the expertise and knowledge required to implement responsible, medically informed clinical policy decisions. This includes structuring of policies, clinical guidelines, provider relations, regulatory consultancy and clinical support of the claims adjudication process.

Medix’s services have been statistically proven to improve case management in medical outcomes and cost optimisation for its clients. The joint effort between the company and its partners control medical inflation, which in turn helps to maintain sustainable premium growth, hence keeping private medical insurance affordable in the long term.

Asia Insurance Review (AIR) has remained the undisputed leading “Voice of the Industry”, with 27 years of dedicated service to the region’s insurance industry. A “must-read market leader”, thanks to our reputation and history in Asia, AIR is the official publication of flagship industry events not only in Asia – including the East Asian Insurance Congress (EAIC), the Pacific Insurance Conference, and the Singapore International Reinsurance Conference (SIRC) – but also globally, including the Global Insurance Forum (GIF), the Federation of Afro Asian Insurers & Reinsurers (FAIR), and the General Arab Insurance Forum (GAIF). The publication is also a Permanent Observer of the ASEAN Insurance Congress. Strong in print, AIR is also the most-read insurance website, according to Google Analytics. For more information, visit


Corporate Risk Manager of the Year

Mr Roland Teo, Eastern Health Alliance (EHA)

Mr Teo, a risk management veteran in Singapore, has shown leadership and passion in enhancing the risk management practice in his organisation in the healthcare sector. He has also gone over and beyond his job to promote the discipline in his country and the region through his work with risk associations and educational institutions.

Sponsored by:

Since October 2013, Mr Teo has led the Risk Management office (RMO) at the Eastern Health Alliance (EHA) where he reports to the Chief Risk Officer (CRO). EHA is a public regional healthcare system in Singapore, providing an integrated range of healthcare services. It also manages an acute-care hospital, where staff handle all situations including clinical risks in addition to the usual organisational risks.

Mr Teo and his team have worked tirelessly to target recurring problems from key serious reportable events. Proven root cause analysis techniques were used to identify problems and provide solutions. RMO also focused on targeting non-clinical risks such as service delivery cases leading to negative media events, which were consequently reduced.

The team also provided research and facilitated discussion with experts regarding surgery, patient falls, and reputation/crisis management from social media to help the ground manage negative impact with interconnected risks. Both the senior management and Board Risk Committee (RC) became increasingly receptive to such an integrated approach and has approved the ERM framework by establishing the organisation’s statement of risk appetite that provides explicit risk limits and tolerance levels for critical risk – a significant milestone in providing concrete action at an organisational level regarding risk management.

This framework has also enabled the hospital to mitigate key clinical and corporate risks by providing sufficient and accurate information to facilitate swift responses. Timely and accurate escalation of medico-legal, infection outbreaks and potential negative media cases to the RC helped in activating the relevant authorities to implement preventive measures.

Mr Teo’s passion for Risk Management has extended beyond promoting ERM in his workplace to both the local community and abroad. He values collaboration with various risk-related associations, which has allowed him to successfully rally support in building the risk community. As the lead of the Risk Management Society’s (RIMS) regional advisory group in Southeast Asia, he has been vital in establishing partnership between RIMS (Risk Management Society) and Singapore’s NTU (Nanyang Technological University) in 2017. As one of the founding members of PARIMA (the Pan-Asia Risk & Insurance Management Association), he also played a vital role in its establishment.

Having represented Singapore (as a member of the national working group for risk in ISO 31000) in contributing to the development of International Risk Standards with a revision for ISO 31000:2017, he is well-versed in best practices for Risk Management, including the COSO ERM 2016.

At AIG, we provide the safety that gives companies and individuals the freedom to grow. We work to pinpoint risks and prevent them from becoming losses so our clients are free to create the future; we help our clients identify unseen risks – and stop accidents before they happen.

For nearly one hundred years, our organisation has faced and managed complex risks; and provided the risk expertise and financial strength that empowers 90 million clients in more than 100 countries. Today, our organisation is evolving to better meet our clients’ needs.

We’re simplifying our structure so that we work more closely with clients, provide greater transparency, and deliver value faster and more efficiently. As One AIG, we’re becoming leaner, more focused, and more profitable. We recognise the constant need for change, and we’re up to the challenge.


Broker of the Year

Willis Towers Watson

Willis Towers Watson’s use of its in-house cyber risk model has helped clients take a robust approach towards assessing their cyber exposure and quantifying its potential financial impact. This has then guided clients in their insurance strategy and allowed them to articulate cyber risk and exposure to key internal stakeholders.

Sponsored by:

Willis Towers Watson has offered a suite of new and innovative analytical risk insight tools designed to provide clarity around clients’ assessment of difficult to measure insured and evolving risks. With the tools, its clients better understand their risk management needs and are prepared to approach insurers, even for the first time, for new or increased coverages, creating new premium flows for the Asian insurance market.

The broker’s Cyber Quantified tool, launched in April 2016, is one of the most significant additions to its Core Analytics tools. Asian clients have provided feedback about their uncertainty around both the potential and applicability of cyber risk to business, and have struggled to convince stakeholders to commit sufficient funds to mitigate the risk. The broker attributed this to the lack of relevant risk data and easily understandable analytical output. It thus developed Cyber Quantified to assess the underlying cyber exposure and provide clients with the ability to clearly articulate the risk’s potential financial impact and overlay various insurance strategies to identify the optimal approach.

The model takes a robust loss quantification approach to guide clients and insurers alike. It provides insights into loss quantums that drive both privacy breach incidents and is, to the broker’s knowledge, the first of its kind to evaluate network outage risks. Dynamic and customisable technology allows for collaborative sensitivity testing around client-specific exposures with instantaneous results – such as on the fly measurement of various insurance structure.

The model also allows for quantification of the potential frequency and severity of a cyber attack with associated range of confidence levels. With visually compelling data driven decision support, it guides a client’s insurance strategy by quantifying the potential range of impacts of a single incident, through to measurement of Comprehensive Cost of Risk (CCOR) and an understanding of the true benefit of insurance. It enables compelling output for communication with internal stakeholders, such as the senior management.

The Cyber Quantified Tool utilises an extensive claims database synthesised from publicly available regulatory reports through to insurance industry claims experience. To recognise regional variations in loss costs, the tool has been calibrated to specifically support all geographies. It provides a breakdown of the expected costs for a range of data breach types. Based on predicted expected loss costs, it then uses an actuarial model based upon recognised simulation techniques to establish likely outcomes and a full picture of the impact of each insurance strategy on expected re-tained losses.

As the model is designed to be user-friendly and does not require extensive data input, other than organisation-specific information that would be readily available to risk managers, Willis Towers Watson offers the Cyber Quantified tool and advisory as embedded consultation prior to any insurance procurement, thus removing cost barriers to cyber insurance take-up.

Tokio Marine Insurance Group
In 1879, we were established as the first insurance company in Japan. Our network now spans 483 cities in 38 countries, and we have never lost sight of conducting business with integrity, passion and quality.

We are a leading multinational insurer with presence in all the major regional markets with a broad distribution strategy utilising broker, agency, bank and direct channels. As a trusted brand, we pride ourselves in putting the customer at the heart of everything we do and our vision is shaped by looking beyond profit while delivering on our commitments to all stakeholders.

Tokio Marine in Asia
Tokio Marine Asia Pte Ltd is the regional headquarters, an intermediate holding company of Tokio Marine Group and a sister company of Tokio Marine and Nichido Fire Insurance Co Ltd (Japan).

We oversee 13 group companies within Asia-Pacific – in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, India and Australia. This includes 8 general insurance companies and 5 life insurance companies, employing 8,500 employees across the region.

In our commitment to expand the insurance business in the region, Tokio Marine Asia is proud to exclusively sponsor the “Broker of the Year” category for the 15th consecutive year at the 2017 Asia Insurance Industry Awards.


Reinsurance Broker of the Year

Aon Benfield

Aon Benfield has demonstrated leadership in reinsurance broking with its effective use of proprietary data and analytics to help its clients transfer their risks and improve their performance. Its active participation as a thought leader in the industry and contributions to the communities it operates in make it a deserving Reinsurance Broker of the Year winner.

Sponsored by:

Aon Benfield puts strategy, structure and resources in synchrony to deliver value and impact for its clients. Over the years, the Client Promise score card has provided important feedback for it to continue to deliver the very best in client service.

The broker uses proprietary data and analytics to deliver insights that reduce volatility and improve performance. Its globally-acclaimed Aon Global Risk Insight Platform (Aon GRIP) allows it to offer data insights to clients based on thousands of historical transactions. This leads to in-depth detailed analyses of different markets and the availability of benchmark reports to help them identify and seize business opportunities.

It is an active global representative across broking and insurance associations internationally, and conducts seminars and lectures at universities which boost the image of the broking and risk consulting profession. Its award-winning Tropical Storm Risk (TSR) programme is one part of its academic and industry collaboration. TSR is a leading resource for predicting and mapping tropical storm activity worldwide, and improves basic risk awareness and decision-making to contain the impact of the tropical storms.

Aon’s reinsurance revenue for 2Q2017 increased by 6%, driven by growth across every product line, including treaty, facultative, and capital markets. The quarter also saw Aon Benfield launch a range of innovative new products and thought leadership to drive revenue, including the April 2017 edition of the Reinsurance Market Outlook: Strong Capital Provides Reassurance in Uncertain Times, which provides a comprehensive analysis of the key variables in the market.

Its Affinity Insurance Services business provides cost-effective insurance products from the ”sharing” to the ”on-demand” economy. The Aon Centre of Innovation and Analytics also facilitates innovative risk research and solution development. Its hallmark integrated insurance and risk consulting approach provides a wide range of innovative risk management services to its clients.

At the heart of Aon’s work is a mission to empower economic and human possibility, and it aims to create positive social impact in the communities it operates in. Its work in sustainable energy and renewable solutions are accelerating investment in offshore wind farms and making clean sources of power more costeffective. In Cambodia, its “Impact on Demand” software – originally designed to help businesses forecast weather risks – is enabling more effective deployment of humanitarian aid after natural disasters.

It strives to help build the global workforce of the future through partnerships with organisations in various countries, such as the China Literacy Foundation, Create Foundation in Australia, and the OM Foundation in India. Through organisations like the Red Cross, Habitat for Humanity and United Way, it also helps communities prepare for and respond to disasters.

The Toa Reinsurance Company, Limited (Toa Re), was established in 1940. With the reinsurance market evolving and clients’ needs expanding, Toa Re has recognised the importance of being able to provide a diverse line of life and nonlife reinsurance products to lead the market as Japan’s primary professional reinsurer.

Toa Re successfully developed its business and maintains a strong market position in Asia through three branches in Singapore, Kuala Lumpur and Hong Kong, and the representative office in Taipei.

The company has also built its overseas network which includes subsidiaries in the US and Switzerland. Taking its cue from its head office in Tokyo, the whole Toa Re group, has contributed to insurance and reinsurance markets worldwide.

In acknowledgement of its outstanding financial profile, Toa Re has been assigned credit ratings of “A+” by Standard & Poor’s, ”A (Excellent)” by A.M. Best and “AA+” by the Japan Credit Rating Agency, Ltd., which enables Toa Re to be a long-term and stable provider of quality reinsurance products and services.


General Reinsurer of the Year

Lloyd’s Asia

Lloyd’s Asia has demonstrated leadership in Asia’s reinsurance market, providing sound financial management, superior security and engaging in partnerships with insurers and government entities for the wider benefit of the industry. Its impressive growth, responsiveness to cedants’ needs and ability to meet changing industry demands make it a worthy General Reinsurer of the Year.

Sponsored by:

Lloyd’s Asia was set up as a representative office in 1999 with two service companies to support the marine and energy sector in the Asian region. Today, it has grown into 21 service companies writing risks on behalf of 23 syndicates across 47 lines of business. With a five-year CAGR of 15% and a 10-year CAGR of 32%, its growth has outperformed the Singapore general insurance market.

As a regional hub for reinsurance, 90% of premiums written by the market are generated from the wider Asian region, reflecting the depth of its expertise and familiarity with the region. Lloyd’s provides insurers with efficient and effective access to multiple sources of capacity through capacity pooling vehicles such as line-slips and consortia. It has a comprehensive and robust market oversight regime which balances proactive oversight and financial management with an innovative and entrepreneurial culture. Delivery of profitable growth with a five-year average combined ratio of 91% is evidence of its strong underwriting discipline.

Embracing technology, its shared services platform outsources back office processing functions and provides the market with timely, accurate and efficient reconciliation of premiums and pro-active credit control. The service was expanded in December 2016 to process claims. Now, 33% of Lloyd’s premium is managed via this service. The platform supports the subscription model and benefits the wider market. Lloyd’s Asia’s experience was instrumental to its “Future Cities: Building Infrastructure Resilience” report published in March 2017, which introduced three new approaches to help cities and insurers work together to build greater urban resilience.

Its engages in discussions with governments and insurers. In April this year, Lloyd’s presented a whitepaper to the Singapore Prime Minister’s office, which proposed various initiatives to further develop the city-state as a hub for marine (re)insurance. It is represented on the International Maritime Centre 2030 Advisory Board, which is responsible for the future direction of Singapore’s marine industry.

Lloyd’s is a founding partner of the Cyber Risk Management Programme: a precompetitive research programme led by the Monetary Authority of Singapore (MAS) that aims to foster an efficient cyber-risk insurance market in Asia. In May 2016, Lloyd’s together with MAS, and the UK Government signed a statement of intent to support the growth of insurance markets across the region, leading to the creation of a proof of concept for an Agricultural Weather Index for Asia in conjunction with UK Met Office and Guy Carpenter. The next phase focuses on developing innovative insurance solutions based on crop and meteorological data.

In October 2016, Lloyd’s spearheaded the Dive In Festival which brings together the industry to promote and enable greater diversity and inclusion. It also supports local communities and boosts the image of insurance in society by supporting worthy charities. In addition, its contribution as a partner of the Pan-Asia Risk and Insurance Management Association (PARIMA) and support of the development of young talent in the Singapore market via internships all help to boost the image of insurance in society.

For over 100 years, MSIG has been Asia’s leading general insurer with an extensive network in Asia – representation in every ASEAN country, Hong Kong, as well as Australia & New Zealand. With its wealth of experience and commitment to this region, MSIG leverages on its multichannel distribution, strong partnerships with intermediaries, and extensive geographical network to offer a wide range of insurance solutions across personal and commercial lines. 4,600 dedicated employees across the region strive to go above and beyond to contribute to the development of a vibrant society, and help secure a sustainable future by bringing security and safety to its customers.

As a testimony of its commitment to the region, MSIG Singapore was awarded the “Gold” status in the travel insurance category at the 2017 Reader’s Digest Trusted Brand Awards, and named the “Insurer Claims Team of the Year” at the 2016 Claims Award Asia-Pacific. MSIG Malaysia also achieved a milestone when it was awarded “General Insurer of the Year” at the 2015 Asia Insurance Industry Awards.

In its efforts to support the (re)insurance industry in the region, MSIG is the proud sponsor of the “General Reinsurer of the Year” award for the 10th consecutive year at the 2017 Asia Insurance Industry Awards.


Life Reinsurer of the Year


RGA has successfully embraced data and future technology solutions to expand insurance coverage to more customers regardless of their health status, age or past claims history. Its stellar innovations in wellness solutions and its use of InsurTech have enabled it to push existing boundaries in the life industry to help solve Asia’s socio-demographic challenges.

Sponsored by:

Having established RGAx Asia as its innovation accelerator, RGA is already seeing its venture paying off. The reinsurer, together with technology startup CXA, is developing a methodology to provide companies with an aggregate health score based on the overall health of its workforce and a forecast of its future premiums. This allows employers to increase control over their future costs and to develop an ROI from their wellness and benefits programmes.

In Japan, RGAx partnered with a machine learning/AI company from Silicon Valley to digitise health checks in Japan and to automate steps of the underwriting process. The reinsurer’s “Claims as a Business” initiative was expanded across Hong Kong, Korea and Japan. RGA developed a unique rules engine that leverages a client’s current health claims and initial underwriting results to generate leads that are pre-qualified as standard or loaded, allowing insurers to effectively target customers who have made claims and are typically uninsurable with pre-approved insurance solutions.

In Korea, RGA developed Care4U, a senior health management service that provides one-on-one personalised care. Notes summarising health status are sent to both patients and their children via an automated system to provide peace of mind to all parties. In Taiwan, it introduced two market-first products, one offering premium discounts based on biometric results and health status improvements, and the other providing cash rewards as a percentage of gross premium based on average daily steps, measured by a wearable device provided by the insurer.

In September 2016, a client in India went live with a new risk scoring model (RSM), developed by RGA India to identify potentially fraudulent behaviour based on historical industry claim experience. It was the first predictive model to be developed using AURA, RGA’s e-underwriting platform.

Among a host of critical illness products launched throughout Asia, RGA rolled out groundbreaking products designed specifically for pre-diabetics and Type 2 diabetics aged 30-65 in Singapore.

RGA’s industry leadership was recognised when it was ranked #1 by ceding companies on NMG Consulting’s 2016 Business Capability Index and #1 for market share for individual new cessions in Asia for the fifth consecutive year. This recognition highlights the reinsurer’s focus on clients and success. The reinsurer conducted research focused on actionable insights and held over 200 seminars and training sessions to explore new ideas and meet client needs. These included its Asia Risk Seminar in Bangkok in October 2016 and RACE (RGA Academy of Continued Education), an ongoing underwriting and claims training and certification programme in India.

Through its initiatives, RGA continues to make life insurance more inclusive, innovative, relevant and exciting.

Muang Thai Life Assurance Public Company Limited is one of the leading life insurance companies in Thailand known for its strength and security. The Company is committed to developing life insurance products including protection, savings and retirement product, as well as services based on new innovations to specifically respond to customer needs.

Adhering to its “Customer Centric” core value, it is committed to delivering professional and excellent services through multi-distribution channel, to meet the needs of every customer group.

Muang Thai Life Assurance has set a goal to become a Digital Insurer by utilising digital systems to support all business processes, and to adapt to the rapid changes of consumer behaviour in line with the Company’s core value.

It also emphasises CSR projects promoting education of youth, social and environmental quality, and cultural and religious aspects. The Company has received Insurer Financial Strength (IFS) ratings by Fitch Ratings at BBB+ and AAA (tha), outlook stable (as of 9 December 2016); and by S&P Global Ratings at BBB+ and axA+ (Asean), outlook stable (as of 13 December 2016).

It has also received awards from prestigious institutions such as the Life Insurance Company of the Year 2014 from Asia Insurance Review and the Life Insurance Company with Outstanding Management 1st Place Award for 10 consecutive years (2006-2015), which has led to the company receiving three Honorary Awards for the Life Insurance Company with Outstanding Management (2008, 2011, 2015), as well as the award for Outstanding Promotion of Micro Insurance for three consecutive years (2013- 2015) from the Office of Insurance Commission.


Corporate Social Responsibility Award

Allianz Ayudhya Assurance PCL

Allianz Ayudhya Assurance PCL is honoured with the Corporate Social Responsibility Award for the significant contributions it has made to helping underprivileged children in Thailand. The insurer has not just given them the proverbial fish, but taught them to fish through providing learning opportunities. It has also involved its customers, employees and agents in these initiatives.

Sponsored by:

Allianz Ayudhya Assurance PCL has been at the forefront of Corporate Social Responsibility (CSR) initiatives for over a decade. Its vision of “Knowledge Contribution to Thai Children” represents its drive to give underprivileged children a chance to learn more.

To date, over 66,000 kids have benefitted from these opportunities to learn outside of their classroom. Allianz Ayudhya Pa Nong Tiew Bangkok and Young Guide is a project that has given 46,000 students insights into Thai history through visiting temples and museums, while being accompanied by the insurer’s agents, customers and employees. Young Guide, an extension of the project, allows students to undergo training to be a tour leader for their juniors.

My Finance Coach (MFC) is a project involving Allianz Ayudhya’s staff which helps fifth grade children learn how to save, spend and judge needs versus wants via fun activities and games. In 2016, it brought the concept of financial literacy to the next level by introducing entrepreneurship to the kids, teaching them how to make ice cream and sell them. They run their own ice cream brand, are trained in brand design, cost and profit calculations and production, and experience being business owners. The insurer supports them as a customer, and they earned over THB200,000 through this agreement last year.

The Allianz Junior Football Camp (AJFC) lets children aged 14 to 16 nationwide with a love of football come together and compete for selection to an AJFC Asian Camp in Bali and AJFC Munich Camp in Germany, where those chosen have a chance to meet top football stars from FC Bayern. Some of these children have since turned professional and joined the Thai Premier League Academy, something that has brought great pride to their families.

This AJFC initiative is tied with a campaign, Football Field Renovation, where the insurer has renovated football fields in schools with a focus on football. Since 2015, 14 football fields in 12 provinces nationwide have been renovated at a cost of THB5 million. five thousand people benefitted, while 3,000 of the insurer’s stakeholders participated in the renovation process.

Allianz Ayudhya has also initiated a host of other CSR activities, which have directly resulted in donations to stakeholders’ preferred beneficiaries. It has helped a shelter home at Baan Poomvet celebrate National Children’s Day for the past three years. It also sets aside funds to help victims of Nat CATs every year. For the recent severe flooding in South Thailand, it raised funds from staff and agents in all Allianz entities in the country to provide help. Other activities it has organised include blood donation drives, organ donation pledges, a charity fun fair and fund-raising for cancer patients.

Allianz Ayudhya’s CSR efforts have also been honoured by Thai government entities, a sure recognition of the immense contributions it has made to the local community.

The Swiss Re Group is a leading wholesale provider of reinsurance, insurance and other insurance-based forms of risk transfer. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large-sized corporations and public sector clients. From standard products to tailormade coverage across all lines of business, Swiss Re deploys its capital strength, expertise and innovation power to enable the risk-taking upon which enterprise and progress in society depend. Founded in Zurich, Switzerland, in 1863, Swiss Re serves clients through a network of around 70 offices globally and is rated “AA-” by Standard & Poor’s, “Aa3” by Moody’s and “A+” by A.M. Best. Registered shares in the Swiss Re Group holding company, Swiss Re Ltd, are listed in accordance with the International Reporting Standard on the SIX Swiss Exchange and trade under the symbol SREN. For more information about Swiss Re Group, please visit:

www.swissre.com or follow us on Twitter @SwissRe.

Swiss Re has been associated with Asia since 1913 and has over 1,900 employees in Asia Pacific. The company has offices in Beijing, Hong Kong, Kuala Lumpur, Mumbai, Tokyo, Seoul, Shanghai, Sydney, Singapore and Bangalore, where it operates a Global Business Solutions Centre.

Technology Initiative of the Year

Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company’s introduction of DriveSmart, a pioneering telematics solution for India’s motor insurance industry, is a game-changer, setting the stage for the advancement of usage-based insurance in the market. This deserving Technology Initiative of the Year is a prime example of customer-centricity, allowing better customer engagement, and providing greater insights with rewards according to personal driving behaviour.

Sponsored by:

In September 2016, Bajaj Allianz launched DriveSmart, the first-ever telematicsbased service offering for motor insurance policies in India, paving the way for usage-based insurance (UBI) through the use of Big Data analytics. The service provides valuable insights to customers on their driving habits and health of their vehicle, and also allows the insurer to offer rewards and engage with its customers better by rewarding good driving behaviour.

DriveSmart integrates digital and cloud-based technology in a read-only hardware device that acts as a black box for a vehicle, connecting to its OBD-II port. The device collects data from the port, sends it to the cloud, and the analysed data reflecting driving patterns and vehicle health is presented to the customer. The insurer integrated its existing app, Insurance Wallet, with DriveSmart’s library. The app was also integrated with an on-premise data warehouse with a telematics platform, facilitating customer self-service such as geofencing, car servicing and 24/7 roadside assistance, empowering him to take measures in the event of an accident.

The arrival of DriveSmart disrupted the existing motor insurance landscape in India, which until then decided the amount of motor insurance premium based on generic parameters like vehicle make and registration location of a car. This meant that motor insurance relied on competitive pricing with few differentiating factors in the policies, compromising on the services provided to customers. Through DriveSmart, Bajaj Allianz GIC laid the foundation for UBI in India and other related innovative insurance models.

The insurer conquered several challenges in its implementation, including the need for scalability and using Big Data and machine-learning to organise the vast amounts of data, given that the OBD port sent out a lot of noise packets. Keeping costs low was also a hurdle, given that in India, premium is just 2-3% of sum insured, so promoting premium reduction was not viable. Instead, the insurer created a unique value proposition around safety, security, savings and convenience, which appeals to all sections of society, showing actionable insights on how being an economical driver could benefit the customer.

DriveSmart will not only assist the customer in making their drive safer and the device more secure; the insights will also enable cost savings and earning incentives via gamification, while traditional policies only figure in a claims scenario. The use of such technology in insurance provides additional value-based services, catering to the modern customer, who seeks personalised solutions from service providers in all purchases, communication from their purchases and additional benefits. The solution is a telematics pioneer in Indian insurance and since its launch, has been recognised by the market through over 6,000 policies sold, generating a premium worth about US$2.7 million.

In our 12-year history on the MENA stage, Middle East Insurance Review (MEIR) has served the MENA insurance industry with strength, vigour and loyalty. Our leading edge has been tested and proven, and our track record remains unchallenged despite intense competition in the market. We continue to be a strong strategic partner and key part of the market place, and remain the trusted source of reliable and up-todate news on both the conventional and takaful fronts.

In addition, thanks to our history and reputation globally, MEIR remains the official publication at major industry events such as the General Arab Insurance Forum (GAIF) and the Federation of Afro Asian Insurers and Reinsurers (FAIR); and together with our longstanding sister publication, Asia Insurance Review, we continue in the international arena as the official media for events such as the Global Insurance Forum (GIF), the East Asian Insurance Congress (EAIC), as well as the Pacific Insurance Congress (PIC).

MEIR is also proud to help raise standards of professionalism and promote excellence in the MENA region. Our Middle East Insurance Industry Awards (MIIA), now in its fourth year, is hailed as the Awards in the region. Besides a host of top-notch events, including the ME CEO Agenda and the Middle East Healthcare Insurance Conference, MEIR’s other initiatives includes online eDaily newsletters. For more information, visit our most-read insurance website as confirmed by Google Analytics at


Digital Insurer of the Year

Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company has demonstrated success in transforming its business through a multitude of digital channels. From being first-in-the-industry in India in several digital initiatives, it continues to use these tools to enhance customer service and improve its reach to remote areas in the country, helping to close the protection gap.


Cathay Life Insurance Co Ltd

Cathay Life Insurance has demonstrated remarkably innovative use of technology in both front-end and back-end operations, which have helped enhance its understanding of customers and its operational efficiency. It is a first-mover in many of these digital initiatives and has set high standards for other insurers in Taiwan and the region.

Bajaj Allianz General Insurance Company Limited

Bajaj Allianz General Insurance Company was the first insurer in India to issue policies online and to introduce cashless claim-servicing. Its digitalisation drive also led it to introduce image-based policy is suance and claims management.

These initiatives marked the onset of digitalisation in the insurance market in India. Fifteen years later, the insurer issues policies today at the point-of-sale and pays out claims at the place of occurrence, having taken large strides in adapting digital technology and leveraging on mobile connectivity.

In India, while most general insurers focus their operations in major cities, the insurer came up with the concept of “Virtual Offices” in order to reach out to customers in the most remote areas of the country, delivering solutions to 1000 Tier 2 and 3 cities. Digital agents equipped with a tablet conduct business worth INR10 million (US$153,500) per day, without physical documentation and can even settle claims at the customer’s doorstep.

Bajaj Allianz uses mobile intensively. Its customer-focused mobile apps offer 24x7 customer care to 2.5 million followers and continual support to partners and intermediaries. It uses multiple social media platforms to educate consumers, engaging with them directly and even servicing customer queries on Twitter.

Its Insurance Wallet app allows insureds to track, manage and download policies, serving as a one-stop solution for all queries. Via this app, customers can also access Drive Smart, the insurer’s telematics service, a first in the industry. On the staff front, MobiBuzz was launched last December to help employees undergo technology-enabled learning 24/7 at their fingertips. Bandhu is another app from the insurer. It helps the sales team use their time efficiently with channel partners.

Besides these, Bajaj Allianz was also the first insurer to implement the concept of customised portals for different stakeholders – customers, empanelled hospitals, bank partners and agency each have their own portal.

Claims is another area where the insurer emphasises convenience. Customers can lodge claims via Insurance Wallet and the insurer’s social media handles. Meanwhile, an innovative, fully-automated so-lution called Claim by Direct Click empowers customers to claim small health reimbursements in two working days through their mobile. Another similar process, CDC Motor, equips customers to get motor claims within 20 minutes with pictures of their damaged vehicle.

Bajaj Allianz is constantly revamping the entire insurance interface from its policies to customer servic-ing. It believes in digitalisation as the paradigm shift for the industry and will align itself with this trend and come up with better means of conducting insurance business.

Cathay Life Insurance Co Ltd

Cathay Life Insurance focuses on three digital strategies to elevate the customer experience: “AI First”, “Data-Driven” and “Tech Innovation”.

The insurer is building two unified customer databases to provide customised and consistent services to customers. The Insurance Application Architecture Database (IAAD) and Customer Experience Platform (CEP) have helped to integrate customer profiles and service journeys from all channels. Data from these two databases can be visualised through infographic charts that help agents to provide better service via the insurer’s Cathay Box app. An “Insurance Coverage Radar Chart” and a 360° Customer View help agents to analyse customers’ needs and understand them better. The app also suggests an adequate marketing name list for the agent.

Within its business processes, Cathay Life Insurance developed a series of apps that enhanced operational efficiency and significantly reduced human error, through an automated inspection mechanism. The apps are supported by logistics systems powered by machine-learning.

In 2016, the insurer offered Taiwan’s first IoT-based insurance policy for customers with high blood pressure, blood glucose and blood lipid levels to enjoy telecare services with four integrated medical institutions. It also helped connect the Agriculture Bureau of the Kaohsiung city government and a local university’s systems to raise awareness on insurance purchase.

Most notably, the insurer provided the first online life insurance service in Taiwan, counting the most contracts. It is the only one to provide online travel insurance extension, early contract termination and cancellation services. It set up self-service insurance machines to serve travellers in the airport.

Cathay Life Insurance is also an early mover in harnessing blockchain in 2016. It is the first insurer in Taiwan to store medical records in blockchain, which will simplify document processing among hospitals, avoid disputes and accelerate claims. It is also the first Taiwan insurer to build an Application Programming Interface Management (APIM) system with the support of IBM, integrating online insurance services with interfacing services of third party innovation companies to create a new business model.

The insurer employs a team of 400 IT experts and has gathered talents to form several digital innovation teams to run larger digital projects to integrate the practical experience of operations department with IT, supported by external consultants. Its FinTech experts are also able to tap on the “Digital, Data and Technology” team of around 50 non-financial specialists set up by Cathay Financial Holdings. It collaborates with universities to hold hackathon events to promote digital insurance.

Cathay Life Insurance is truly a digital insurance leader in Taiwan. With majority of its insurance services now distributed on mobile, it also claims the highest number of agents’ service support apps and information application patents in the industry. It was ranked first in Taiwan’s financial industry in the 2017 IDC Information Maturity Survey, a clear demonstration of its digital leadership not just in insurance, but the financial sector at large.

Personality of the Year

Mr Chris Wei, AVIVA

Mr Chris Wei is a digital trailblazer in the insurance industry, who successfully advocated the use of technology to transform the business in his current organisation, Aviva and the industry at large. As a rare Asian on the global insurance stage, his winning personality has been a key factor in amplifying his voice for the region on the international scene.

Sponsored by:

Mr Wei has a track record of extensive experience and success across multiple disciplines in the insurance industry. Today, he is the Global Chairman of Aviva Digital and is one of very few Asians who have ever stood tall on the global insurance stage.

He is a strong advocate of Asia’s insurance industry internationally, and is a leading proponent of digital insurance. He believes in leveraging technologies and innovations to better serve customers, increase efficiency, improve the general public’s perception of insurance, and enhance people’s quality of life.

Mr Wei regularly promotes the image and enhances the reputation of insurance to the wider community, participating regularly in media events, industry conferences, government advisory panels and is active on social media. He is a thought influencer who shares views beyond Aviva, relating insurance to other industries, social and macroeconomic trends. He truly believes in insurance’s role to defy uncertainty and improve living standards.

In developing talent, he believes in the space-to-lead model, in creating big jobs for capable people, and in giving them room to lead and develop. In his role, he has fostered a collaborative and motivational environment, where individuals with different expertise and experiences work together in innovative and agile ways, to create industry-leading solutions for customers. He has recruited talent from diverse backgrounds – both within and outside the insurance industry – for Aviva. This is just one example of his active role in general staff development. He also engages junior staff in career discussions, participates in university campus events, and personally led the development of the Aviva Scholarship.

He led Aviva to maintain discipline in profitable growth, such as its protectionfocused corporate strategy in China, which resulted in strong growth and praises from the Chinese regulator, CIRC. He has advised several CIRC affiliates, and also chairs the Singapore Digital Innovation Roundtable in cooperation with the Monetary Authority of Singapore and the UK Department of International Trade.

Mr Wei is also a trailblazer in developing new practices. The Aviva Financial Adviser client service model in Singapore, the new digital insurance partnership with Hillhouse/Tencent in Hong Kong, which brings in leading customer analytics and access, and the partnership with Founders Factory in the UK stem from that spirit, as do Aviva’s digital garages that were set up across several cities worldwide within 24 months. It is in no small part due to his efforts that Aviva has transformed from a 321-year-old institution to be among the most advanced digital insurers in the world today.

ReMark is a global alternative distribution and consultancy company, providing end-to-end marketing and technology solutions for insurers, banks, financial institutions, associations and affinity groups.

ReMark designs and executes distribution programmes that establish and sustain brand loyalty, while increasing the lifetime value and profitability of each customer.

ReMark’s customer-driven marketing culture focuses on the entire customer journey, leveraging the rapid improvements in the quality, range and accessibility of data to identify not only those most likely to buy, but those most likely to pay and stay.

With extensive multi-channel expertise, ReMark enjoys considerable competitive advantage in:

  • Data Analytics
  • Behavioural Insight
  • Product Innovation
  • Distribution Strategy
  • Campaign Management
  • Thought Leadership
  • Creative Design and Development

The unique diversity and tenure of ReMark’s portfolio provides access to the world’s most comprehensive set of experience data for Alternative Distribution channels, while expert analysis of real customer behaviour turns information into insight – powering proven marketing strategies which optimise pathways to purchase to ensure measurable relevancy to your most profitable customers.


Lifetime Achievement Award

Mr Mark Tucker

Mr Mark Tucker has a unique track record in fostering the success of two primary pan-Asian life insurers, Prudential and AIA. He has generated enduring value for not only these organisations, but also their shareholders and millions of customers in his lifetime. With his retirement from AIA, it is highly fitting to recognise his career with the Lifetime Achievement Award.

Sponsored by:

In a career spanning more than 30 years, Mr Tucker has built an unparalleled track record of significant achievement and contributions to the development and growth of the life insurance and asset management industries in Asia. He has provided leadership to two of the world’s leading insurance providers – Prudential plc, which he helped establish and served for 25 years, and the AIA Group, which he led for seven years – and touched the lives of countless people.

He foresaw tremendous opportunities to cater to a growing middle class’ life insurance and asset management needs as Asia started to boom in the late 1980s. Thus, he convinced Prudential plc to invest in regional life insurance operations, and remained committed to expand and invest in the region even through the 1997 Asian Financial Crisis.

Over a 10-year period, Prudential expanded to Vietnam, India and China. Under him, the insurer introduced unit-linked life insurance, and inked the region’s first long-term distribution partnership between a life insurer and a bank (Standard Chartered Bank), establishing an industry model for subsequent bancassurance agreements in Asia.

Mr Tucker also made a huge and lasting contribution to the AIA Group. He was appointed Group CEO and President of the company in July 2010 and led its recordbreaking IPO in October 2010. Under his leadership, AIA produced an outstanding track record over seven years for consistently delivering high quality profitable growth and increasing shareholder value.

He moved AIA from a centralised “command and control” organisation to a decentralised model, where country teams are now empowered to make decisions while being held accountable for results delivery.

Under him, AIA launched the Real Life Company, its first-ever brand position. He also created the AIA EDGE team in 2013 to identify new and emerging capabilities to accelerate AIA’s growth, and introduced the groundbreaking wellness programme AIA Vitality to Asia

Mr Tucker’s legacy is immense. The PCA he built today currently generates more than GBP2 billion (US$2.58 million) of new business profit and GBP1.5 billion of earnings. He left AIA in its strongest shape ever, with VONB more than four times that reported at its IPO. AIA’s share price has trebled since IPO and the insurer is now the second largest life insurer in the world by market capitalisation. His values, work ethic and ability are undisputable. For millions of people in Asia, Mr Tucker is the architect behind the provision of their much-needed life insurance coverage.

QBE Asia Pacific is part of the QBE Insurance Group Limited, one of the top 20 insurers and reinsurers worldwide. QBE Insurance Group’s financial results can be found at www.group.qbe.com. Headquartered in Sydney, Australia, QBE operates out of more than 30 countries and territories around the globe, with a presence in every insurance market.


Video highlights of last year's AIIA Awards