The rise of the millennial generation brings with it a new type of customer. This ‘born digital’ generation demands a world fashioned to its needs and new expectations. Digital customers have dramatically transformed expectations of service, and speed and personalization are just the start.

In this year’s Accenture Technology Vision for Insurance report, the platform economy is identified as one of five emerging technology trends shaping the digital landscape. Among the building blocks for a growing platform ecosystem are: cloud services, reusable software, and mobile development. The report encourages insurance leaders to engage with the customers where they are: online and on mobile.

That’s exactly what some Asian insurers are doing with innovative connected life and health programs, which could pave the way in customer experience design and transformation for the entire industry.

In the fall of 2015, Manulife Asia introduced an activity-tracking program, Manulife Move, with insurance solutions that reward customers who maintain active lifestyles. The program, which can be accessed through mobile apps or online, connects with Fitbit and Misfit, and encourages members to track their activity progress against set goals. By reaching simple fitness goals, customers can enjoy premium discounts tied to health protection solutions recently launched in Hong Kong.

Another great example of a mobile-connected wellness incentive program is AIA’s Vitality, which launched in Singapore first, and expanded to Australia, the Philippines, Hong Kong, and most recently to Malaysia in June of this year.

Similar to Manulife Move, the program tracks the fitness and health progress of customers and offers a variety of rewards for them. In addition to a 15-percent premium discount, AIA offers its insurance customers annual cashbacks, discounts on gym memberships and airfares, and health screening packages. AIA’s Vitality also provides the participants with customized advice and guidance to motivate them to be healthier.

Getting past the digital culture shock that so many insurers find themselves in today sounds daunting. But fortunately these early adopters are providing inspiration and showing the way ahead in finding, acquiring and keeping new customers in insurance.

Insurers across the industry can follow these Digital Transformers’ lead by focusing on value-add and deeper customer relationships.

To learn more, register to download the Technology Vision for Insurance 2016.


Learn more about this year's insurance trends in the Technology Vision for Insurance 2016 which takes a look at the primacy of people in the digital age.

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