AIG APAC implemented a full policy life-cycle insurance distribution to allow for electronic distribution of insurance products
In 2012, AIG APAC rationalised their product offering to the SME market segment. They implemented eBaoTech Collaborus, a full policy life-cycle insurance distribution platform, and integrated it with several other systems to allow for electronic distribution of insurance products through multiple channels and provide external real time access of policies and portfolios to AIG distribution partners.
The project was called AIG @venture and the key objectives were to:
- Rationalise AIG’s product offering to the SME market segment
- Implement a distribution-focused policy fulfilment platform
- Provide full automated workflow between agent/broker and underwriter
- Generate documents in real time in PDF format and provide a robust pricing and underwriting platform
The Transact platform went live in Indonesia, Malaysia, Hong Kong, Singapore, and Thailand successively from January to September 2012. Approximately 10,000 external agents and 75 to 100 underwriters, claims, and distribution staff across five countries now use the system.
AIG APAC was awarded the Celent Model Insurer 2013 award in the Policy Administration category for its distribution platform supporting the SME market. With this new solution, AIG is now able to streamline processes, implement best practices across the region, and provide a higher level of service to prospects and existing clients.
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