Insurer AIA Singapore last week unveiled an iPad point of sales (POS) system called iPoS, which it claims is an industry first worldwide.
iPoS increases the efficiency of the insurance purchasing process and customers can obtain insurance coverage within one day, according to AIA Singapore.
The new platform is a follow-up to the company's Sales Quotation System (SQS), also built for the iPad.
"With the iPoS on an iPad, approximately 3,500 AIA financial services consultants in Singapore will now be able to focus more time on providing quality financial advice to customers and spend less time on administrative matters which are now automated," said Tan Hak Leh, chief executive officer, AIA Singapore. The insurer estimated that its agents can now meet one to two additional customers daily.
AIA Singapore claims it will save about one million sheets of A4 paper a year with iPoS. Assuming a similar amount across AIA Group's six key markets, that works out to roughly six million - saving close to 80 trees a year.
Singapore is the first market for AIA Singapore to launch the iPoS, and will be followed by countries in the region. "iPoS will be customised to meet customer needs and regulations in other markets of AIA Group, beginning with Indonesia and Malaysia in the next six to 12 months, followed by Hong Kong and other key markets," said Bill Lisle, chief distribution officer, AIA Group.
The company also believes having an automated system on the iPad tablet can help endear itself to potential recruits and customers. AIA Singapore estimates that one in three Singaporeans owns a tablet, making the island-nation one of the top tablet users in the world.
Sign up for MIS Asia eNewsletters.