AXA Hong Kong – Brochure 2019

AXA Hong Kong: customer centricity in the digital transformation of insurance

Mr. Pradeep Satya, Foun & CEO at Synergy

Synergy’s ‘Astra – Pr Automation Framew accelerates Digital

formation of Insurer The mobile revolution taken the world by sto

creating entire industr while revolutionizing o

The needs of an ‘insu customer’, or should w

the ‘mobile customer’ evolved too – demand

simple products that a to buy, real time policy seamless policy upda

finally an efficient and

claims settlement.

While a few Insurers been able to seamles

P R O J E C T PA R T N E R S

AXA Hong Kong: customer centricity in the digital transformation of insurance WRITTEN BY D a l e B e n to n PRODUCED BY A l ex P a g e 2

3

Koh Yi Mien, Managing Director Health and Employee Benefits at AXA Hong Kong, explores how technology is only one part of the digital transformation journey

I

n early 2019, the Voluntary Health Insurance Scheme (VHIS) was introduced in Hong

Kong by the Food and Health Bureau to regulate indemnity hospital insurance plans offered to individuals, with voluntary participation by insurance companies and consumers. The VHIS was designed as a means of encouraging and supporting customers to purchase private healthcare services and for Koh Yi Mien, Managing Director Health and Employee Benefits at AXA Hong Kong, this scheme represents a broader transformation of healthcare and insurance

timely fashion.”

Yi Mien also points to a global drive

services. “Currently, the demand on

for greater transparency, accountabil-

healthcare in Hong Kong in the public

ity, use of data and technology as well

sector is incredibly high with very long

as promoting customer choice as key

waiting times and waiting lists,” she

drivers of change in the insurance space.

explains. “As a result, people just aren’t

“It’s no longer a case of simply provid-

getting timely access to treatment. The

ing reimbursement to people when they

private sector in Hong Kong, which is

need treatment,” she says. “It’s about

world-class, has capacity. So, if we can

being the patient’s partner through-

rebalance and shift some of the elective

out their whole life so that when they

work from public to private, it will free up

need healthcare, whenever and wher-

more people to use the public service in a

ever they are, we are there to help and

4

AXA HONG KONG

support them in their times of need.”

The modern-day insurance customer is very different from the customer of the past. We live in times of greater access to information through the advent of social media and the increasing influence of the Internet and this has resulted in insurance customers being more knowledgeable about their conditions and asking more questions of their doctors than ever before. As a result, the balance between the customer and the healthcare provider is becoming more equitable. “Customers and patients, as a result, are becoming more demanding,” says Yi Mien. “Gone are the traditional ideas that doctor knows best. It’s not uncommon w w w.a xa .com.hk

5

Mr. Pradeep Satya, Founder & CEO at Synergy Synergy’s ‘Astra – Process Automation Framework’ accelerates Digital Transformation of Insurers The mobile revolution has taken the world by storm, creating entire industries while revolutionizing others.

The needs of an ‘insurance customer’, or should we say the ‘mobile customer’, has evolved too – demanding simple products that are easy to buy, real time policy data, seamless policy updates and finally an efficient and faster claims settlement.

While a few Insurers have been able to seamlessly tran-

sition to meet the demands,

The Astra Advantage –

many are facing an uphill task given the inherent limitations

Flexibility, Speed and Immediate Benefits

of legacy technologies, aged

The value of Astra lies in its

ineffective processes and big investments required to

highly customizable & configurable structure, which

revamp old technologies.

Insurers are now looking for

caters to different process & technology needs, and the

‘smart transformation’ ap-

speed with which you can

proaches and ideas that can deliver quick wins & smart

implement them. Rules-based configurators allow insurers

alternatives that can eventually merge into the larger

to quickly automate processes, and data integrators help

technology upgrade.

Synergy has been at

to connect with legacy / mo-

the forefront of this ‘smart transformation’ model, working with Insurers in identifying, designing & delivering effective quickwins. The award winning ‘Astra – Process Automation Framework’ has delivered significant measurable gains for Insurers in Hong Kong & Indonesia. This is a simple and efficient change framework where ‘process knowledge, automation & data’ come together, says Pradeep Satya, Founder & CEO at Synergy.

bile technologies seamlessly.

On an average, a process solution is delivered in a short span of 12-15 weeks. Once live, the solution can record near real-time benefits from day one.

Astra Framework is also being effectively utilized in Software Quality Assurance where it has helped to assess the functional elements against the technical enhancements, a great benefit where core platforms are being upgraded.

By bringing together a boutique mix of Insurance domain and technology expertise, Synergy is now a preferred Knowledge and Transformation partner for major Insurers. Synergy currently operates in Hong Kong, India, Singapore & Malaysia.

To know more about Astra and Synergy, please visit www.synergysolutions.asia 7

w w w.th e in te r fa ce . n e t

for patients to see their doctor with a

very traditional sector sure, but asking

list of demands, while expecting to be

patients or customers to book weeks

serviced.”

in advance and telling them they don’t

Running parallel to becoming more

really have any choice is becoming

knowledgeable and demanding is

increasingly unacceptable and so health-

the use of smartphones and how it

care becomes a commodity,” says Mie

has created a culture of service in an

Koh. “They, like any other customer, vote

instant. When customers purchase

with their feet and want 24/7 access

etiquettes or use banking services, they

to quality healthcare without waiting

expect the ability to be able to access

directly from us as the insurer.”

and complete these transactions and

The informed customer and patient

services via their smartphone devices.

have also transformed the relation-

Fewer and fewer people are accessing

ship between customer and doctor. It

physical bank branches and the health-

is no longer a bilateral relationship and

care insurance sector, despite being still

the entire healthcare ecosystem works

very traditional, is feeling the effects of

to provide services from prevention

this instant demand. “Healthcare is a

right through to treatment. The result? w w w.a xa .com.hk

9

Insurers like AXA work with customers before they are sick and encourage them to maintain their health, but they also work with clients during their illness and even afterwards AXA will continue to treat them in their rehabilitation. “During their healthcare journey, customers want some handholding in order to navigate the very complex healthcare system, to make sure they get the right healthcare provider, doctor and hospitals that are best for them in their time of need,” says Yi Mien. “This can only happen if we are using digital so that it becomes more real time.”

AXA has been embracing technology for a number of years to be able to serve and effectively work with its customers. It achieves this by starting with the definition of a product, because the product sets the rules. Yi Mien highlights that the rules would often be how AXA would spell out the terms and conditions, the provisions, but these rules also set the customer expectations. Throughout late 2018 and 2019, AXA has invested in digital to enable its customers to buy online, service online, claim online and check-up online. The company also launched a servicing app called Emma, a ‘digital companion’ that enables even faster service. Yi Mien describes this 10

AXA HONG KONG

“ Gone are the traditional ideas that doctor knows best. It’s not uncommon for patients to see their doctor with a list of demands while expecting to be serviced” — KO H Y I M I E N MANAGING DIRECTOR HEALTH AND EMPLOYEE BENEFITS AXA HONG KONG

w w w.a xa .com.hk

11

By integrating next-gen digital solutions into the world’s most demanding IT systems, we are helping the insurance industry bring new products to market up to 80% faster.

Digital transformation by DXC Technology. dxc.technology/insurance

app as a true “health companion”. She

means that we have more comprehen-

is also keen to highlight that the tech-

sive and more reliable data.”

nology is only part of the story. AXA has

Comprehensive and reliable data is

built a vast medical network with some

crucial to the technology journey of AXA,

of the leading hospitals and doctors and

but it is also integral to the customer

customers simply having to log into their

journey. With a customer’s entire elec-

companion app to be able to access this

tronic medical records stored effec-

network at the touch of a button. “All

tively and securely, as Yi Mien notes,

they need to show is their digital card,

why would they go anywhere else?

their e-card, and with the QR code, the

The data that an insurer handles is

provider just scans it. All of the data is

often complex in nature, but this data

downloaded and all they need to do is

is processed through artificial intelli-

sign, get their treatment, and then when

gence, with AI being used to process

they discharge, just sign that they have

claims more effectively and interpret

received the treatment and off they

the information to allow AXA to create

go,” she says. “The hospital will bill AXA

rules and algorithms to better serve its

directly so there’s no out of pocket. The

customers. AXA also utilises AI through

data is also transmitted to AXA which

its companion app Emma. “Emma is our

w w w.a xa .com.hk

13

chatbot,” explains Yi Mien. “Emma has

and it maintains this as it continues to

been built up based on a multitude of

implement new technologies. “If you

Q&As that our customer services team

look at banking as an example, we all are

have recorded and collected over many

so used to accessing our bank accounts

months and years. As we continue to

at any time, be it through our phones

build, and more people use Emma, then

or online,” says Yi Mien. “If we want to

the quality of the responses she has in

speak to someone, we can. If we want

her arsenal will improve.” In the first two

to go into a branch, we can. I believe this

months of operations, Emma recorded an accuracy level of 50%. Yi Mien firmly believes that as more people engage with Emma and as a result, the chatbot will evolve and become more of a realtime navigator that can direct customers across the whole ecosystem.

In the global discussion around AI, the topic of transparency is often a key point of debate. With governments around the world shining a spotlight on exactly what data is collected and how it is used, AXA ensures that it maintains an open and transparent dialogue with its customers.

As customers engage with Emma and the companion app, they can at any time request their transcripts. Should they choose to speak with a human adviser, all calls are recorded and again they can access those recordings should they wish. Not only is this an example of AXA complying with global governing laws, it also highlights that the customer is at the very heart of every decision it makes 14

AXA HONG KONG

Dr Koh Yi Mien Managing Director, Health and Employee Benefits & Executive Committee member AXA HK Dr Koh is an experienced Chief Executive and Chief Medical Officer with international experience across the private & public sector and government. She is the Managing Director, Health and Employee Benefits & Executive Committee member of AXA HK and specialises in employee benefits, insurance, regulation, commissioning, population health, governance, strategy, operations, partnerships and much more. She is a strong business development professional with Fellowships from Medical Royal Colleges in UK, Australia, and from the Hong Kong College of Community Medicine and Hong Kong Academy of Medicine.

She is passionate about improving the health of the population and sees insurance as playing a key role in driving value to achieve the long-term sustainability of the health ecosystem.

w w w.a xa .com.hk

15

16

AXA HONG KONG

is the way to go with insurance as well.

We make it easy for our customers to contact us. We are doing everything we can to allow that.”

“Healthcare is quite personal, so we are doing what we can to allow customers to speak to people, should they not wish to use our chatbot. These are very personal journeys and digital is still in its early days, so we really have to provide different avenues and channels for our customers to contact us.”

As Yi Mien notes, AXA designs its customer journey by starting at the product and going through all the way to treatment. The company makes every decision with the customer’s perspective in mind. As a doctor by trade, Yi Mien sees that all new products are designed by doctors because they understand how the patients move throughout the whole healthcare ecosystem. When AXA designs new products, it does not operate within a vacuum. It has a customer insight group, where around 1,000 customers operate as a realtime focus group in which AXA can test its products with. “When I think about future products, we will test with this group of people and get feedback to see whether we are aligned with the current customer need. So, it’s not just w w w.a xa .com.hk

17

technology per se, but actually meets a customer’s needs,” she says. “One other area to make sure that we are doing the right thing, because technology also costs money, is to make sure that we are very robust in what we do. AXA is unique in that we sell life insurance, health insurance, employee benefits, and we also have P&C. So, being a multi-line insurer, we have the opportunity of having one approach and cross-selling across the business lines, which is a fantastic opportunity. We can only do that through technology.”

Over the course of her career, Yi Mien has been a champion of the transformative effect of technology in becoming a greater enabler for healthcare and healthcare insurance providers

“In the past two to three years, there

around the world. One area in particular

has been a proliferation of digital tools.

that is close to her heart is the mental

Recent studies have shown that digital

health space. In Hong Kong, the wait-

tools are as good as, if not better, than

ing time to see a psychologist is close to

in-person therapy because customers

two years and if patients were to seek

prefer to talk to a robot rather than face-

private care, it is an expensive solution.

to-face because they feel that the robot

“Look at a country like Hong Kong, or

is not judging them.”

Australia, they are so vast that there

Another example that Yi Mien high-

just aren’t enough practitioners to cover

lights is in the UK, where a VR program

the breadth of the geography. Digital is

has been developed by programmers

the solution,” she says. “Digital enables

that is therapy through gameification.

people to seek, support and care at the

The treatment is consistent every time

time that is most convenient for them.”

and because of its mobile platform, it

18

AXA HONG KONG

“ AXA has a clear digital strategy for sure, where it will transform its digital system and build new IT infrastructure to transform the customer experience. But the technology is only one part of the story” — KO H Y I M I E N MANAGING DIRECTOR HEALTH AND EMPLOYEE BENEFITS AXA HONG KONG

is accessible. “We can provide it where

partners, collaborators, who are work-

you work,” she says. “That’s just one

ing together to ensure we are at the

example as to how we can destigmatise

top of our game and at the forefront of

mental health through technology.”

innovation.”

AXA operates within a broad health-

“Over the course of our lives, so many

care ecosystem, an ecosystem made up

different things can happen and so

of partners, providers and doctors and Yi

people will need better care and support.

Mien stresses that in the future of insur-

By having a collection of data that repre-

ance, it will be impossible for insurers to

sents our customer’s needs we are able

control the ecosystem. “I don’t foresee

to push or suggest services that better

a future where that happens,” she says.

meet those needs. In order for us to do

“Partnerships are incredibly important.

that, we need to have players collaborate

Things are moving so fast there’s no way

in the ecosystem. It’s imperative.”

we can catch up alone. We need to have

As AXA continues this digital growth w w w.a xa .com.hk

19

journey, the next few years will be defined by improving the agility of the digital companion in order to improve the interaction with customers. AXA will also be looking at developing a digital marketplace in which customers can go shopping within an AXA owned digital platform. For Yi Mien, though, the future is clear for AXA and in order to be successful, she feels it’s down to one thing. “AXA has a clear digital strategy for sure, where it will transform its digital system and build new IT infrastructure to transform the customer experience,” she says. “But the technology is only one part of the story.”

“Unless we can transform the customer experience to deliver a service they truly value, then technology doesn’t do anything. It’s important to recognise that technology is enabling us to transform healthcare, to make it easier, faster, and cheaper for people to receive care.

That means in the long-term, sustainable healthcare and health services, which fits into sustainable insurance.”

20

AXA HONG KONG

w w w.a xa .com.hk

21

W W W. A X A . C O M . H K