Axa Affin Life Insurance Berhad

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Axa Affin Life Insurance Berhad

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The leader in business insurance protects customers, both people and businesses, so they can go about their lives and investments with peace of mind.

As a global insurance leader, we are committed to advancing human progress by protecting what matters.Since 1975, we have been a leading, innovative and entrepreneurial company providing comprehensive protection solutions for individuals and businesses in all areas of general insurance. From business to health, mobility and the environment to the economy, we are committed to positively empowering society in all its aspects and making progress for a better future. Learn more about us and our people at

AXA Affin General Insurance Berhad (AXA Affin General), established in Malaysia in 1975, is a member of the AXA Group and a subsidiary of AFFIN Bank Berhad. As Malaysia’s fastest growing general insurance company and a leader in health and medical insurance (Source: ISM), AXA Affin General provides comprehensive protection solutions for individuals and businesses in all areas of general insurance. AXA Affin General protects more than 1.8 million clients and is supported by more than 800 employees in 23 offices with a multi-distribution channel of more than 5,000 agents, brokers, franchises and banking partners nationwide.

AXA Affin Life Insurance Berhad (AXA Affin Life), established in February 2006, is a joint venture between Affin Bank Berhad and AXA Group, a global leader in financial protection based in Paris. Leveraging AXA Group’s strengths as financial security experts and AFFIN BANK’s local knowledge and diverse network, AXA Affin Life helps people manage risk and achieve their financial goals. AXA AFFIN Life continuously strives to establish close and long-lasting relationships with its clients, offering them care, support and advice with the highest standards of professional ethics. AXA Affin Berhad General Insurance (AXA) started the year with consecutive big wins. Human resource culture and revolutionary methods

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This major acquisition cemented AXA’s market-leading reputation as one of the most inspiring companies to work for not only in Malaysia, but in Asia and around the world. Understanding that a positive employee experience is central to delivering the company’s goals and loyalty to customers, AXA continuously develops a flexible, innovative and people-centered company culture, as well as a work environment that is open and inclusive of personal and professional growth. . is encouraged

The workplace landscape is changing rapidly, and it’s important to us to empower our people to be the change they want to see in order to stay relevant and competitive. AXA is a great place to work where we put the people agenda at the heart of everything we do.While we focus on protecting what matters to our people in every way, we empower them by providing ways and platforms to unleash their potential. We strongly believe that to win in the marketplace we must first win in the workplace Mox is our competitive advantage that will drive and create positive value for all our stakeholders,” said Safinas Mohd Ibrahim, Chief People Officer of AXA, who also received the Most Influential HR Leader 2020 award.

AXA’s eligibility to win the We Care HR Asia Most Caring Company Award 2020 was determined entirely based on employee evaluations conducted through the Total Engagement Assessment Model (TEAM) survey method, which consists of 3 dimensions: core, cell and team . The award highlights the company’s role in caring and working to help its employees and their families during difficult times

Since the start of the pandemic, AXA has taken an active role in protecting the physical and mental health of its employees. The company has taken strict precautions to protect its employees from the risk of infection through regular disinfection, providing masks and personal protective equipment, working from home, organizing split teams and other protocols.

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As AXA embraces the shift to remote work, it has also used the internal ecosystem to connect with its employees and improve their mental health, so everyone can continue to learn and thrive in the new normal. By launching a digital employee support program, employees can easily and remotely seek support related to their mental health through a dedicated 24/7 helpline, mobile app, web portal, online therapy sessions and webinars.

Additionally, as part of its ongoing efforts to improve the skills and capabilities of its workforce, AXA has introduced new avenues for in-class training through various technologies and online learning platforms. This is in line with AXA’s strategy to prepare for a future-ready workforce and accelerate the adoption of digital technologies across all areas of its business. While Rohit was the Managing Director of AXA AFFIN Life Insurance in Malaysia, Namibia. When he accepted, he realized that the company needed it. If it had any chance of breaking into the top of the industry, it had to do something dramatic.

. Rich Janata said: “The big guys are chasing the same customers. “So let’s break them off after the millennium.”

Subtext: Large insurers depend on agents, which presents a business model restructuring challenge for the end-to-end customer connection. The Life business is dependent on Namibian controlled agents such as AIA, Great Eastern and Prudential; 61% of its premiums are sold through agents.

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So when he started pushing for a disruptive, mobile-only product, he hired top staff from his agency, arguing that digital was essential to securing tomorrow’s customers.

Nambier, who had six top earners under his belt, told a story when he launched a new digital medical card service in April, backing a product that at least partially won’t attract new customers.

This story is supported by fintech, which helped AXA AFFIN as an implementation partner, said Mukesh Pilania, CEO of Kuala Lumpur-based startup Yantric. “The CEO introduced agents to his confidence in communicating directly with customers.

The value proposition was that the medical card was a window to new and younger customers whose needs would grow to where they would need an agent later. Managers must engage and take calculated risks, Pilania said.

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Malaysia is experiencing a convergence of digital challenges in banking and insurance targeting new customer segments, especially the millennial generation.

Regulatory hurdles force the largest insurers in China and the US, such as Zhong An or Lemon, to require operating licenses. But e-wallets and other payment platforms have grown since 2016, with insurance companies exploring them as potential partners.

Banks, telecom operators and tech companies are flooding the market with apps, and industry leaders have spoken to them.

They say they expect a merger next year, and it hits insurers No insurer has signed a deal yet, as they remain concerned about data ownership and sharing.

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Until now, unemployment teams contested the disbursements through aggregators and comparison sites such as Singapore-based iMoney, RinggitPlus and GoBear. They are trying to figure out how to add enough value so that insurers can share product information with the agency’s sales force and other distribution channels. These startups gained recognition in 2017 when regulator Bank Negara accepted them into its fintech sandbox.

But aggregators and comparable technologies are already catching on to digital trends and still aren’t open to agents, industry officials say. K.

In fact, regulators want to promote digital channels to deepen the industry, the Malaysian government identifies itself against Singapore and not emerging markets. According to DBS research, life insurance penetration is around 55%, but has not increased since 2010 and is below Bank Negara’s target of 75%.

In some ways, the industry is going in the opposite direction. new business premiums in life insurance grew 3.8 percent to 10 billion ringgit ($2.6 billion) in 2017, according to the Life Insurance Association of Malaysia, but the figure is much lower. Slower than the 6.9% rate this industry recorded in 2016. Additionally, all of the growth is driven by investment-linked products, while traditional individual life policies decline sharply and group policies are flat. Against that backdrop, casualty claims rose to 5.3% (RM10 billion) in 2017, hence the figure.

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