AIA tops Million Dollar Round Table (Daily Financial Times (Sri Lanka))

AIA Group Ltd. has announced having reached a total of 3,752 agents registered as Million Dollar Round Table (MDRT) members on 6 May, positioning AIA as the top ranking multinational company on the prestigious MDRT membership list.

MDRT is internationally recognised as the standard of excellence in the life insurance and financial services business. Its members are required to generate a certain level of premium, commission, and income, and demonstrate exceptional professional knowledge, strict ethical conduct and exceptional client service.

This outstanding recognition is a testament to the relentless commitment of our agency force to the highest level of professional service to families and individuals across Asia, said Patrick Teow, CEO of Group Agency Distribution of AIA Group. We will continue to support the development of our agents by offering a steady stream of high quality training programs, hiring and retaining top talent, and providing the most advanced tools for enhanced efficiency and productivity. This sustained effort will not only be beneficial to our agents and our customers, but it will also contribute to further strengthen our position in the market.

Underlying AIA’s efforts to support and grow its agency force, the company launched its Premier Agency strategy in 2010, which led to significant investments into the agency training and development. In 2013, AIA extended this initiative and entered into a strategic partnership with GAMA International, an association dedicated to supporting the professional development of field leaders in the insurance and financial services industry. The program provided AIA’s agency teams with skills-based professional development and opportunities for peer-to-peer networking. By2014, more than one-third of AIA’s agency leaders across the Asia region had completed the GAMA training.

In addition, AIA has been investing in new technologies that transform the agents’ day-to-day operations and dramatically enhance customer experience. As an example, the Group’s interactive point-of-sale (iPoS) enables agents to engage with customers anywhere and at anytime with the aid of a tablet, allowing an interactive and dynamic experience that significantly improves customer acquisition and retention. As a major innovation for the insurance industry, iPoS is currently available in 11 AIA markets.

AIA has also started to roll out a next-generation system that integrates a new interactive mobile office (iMO) platform with iPoS technology. The system with expanded functionalities will further enhance the quality of the interactions between AIA’s agents and customers to ultimately drive business growth.

AIA’s commitment to having the highest quality agency force in the region is reflected in the Group’s results, with AIA’s agency business recording a 21% growth in Value of New Business (VONB) in the six months ended 31 May.

AIA Group Ltd. and its subsidiaries (collectively ‘AIA’ or the ‘Group’) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Hong Kong, Thailand, Singapore, Malaysia, China, Korea, the Philippines, Australia, Indonesia, Taiwan, Vietnam, New Zealand, Macau, Brunei, a 97% subsidiary in Sri Lanka, a 26% joint venture in India and representative offices in Myanmar and Cambodia.

The business that is now AIA was first established in Shanghai over 90 years ago. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of $ 172 billion as of 31 May.

AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 29 million individual policies and over 16 million participating members of group insurance schemes.

Founded in 1927, the Million Dollar Round Table (MDRT), the Premier Association of Financial Professionals, is a global, independent association of more than 42,000 of the world’s leading life insurance and financial services professionals from more than 470 companies in 71 countries. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognised internationally as the standard of excellence in the life insurance and financial services business.