New Entity to Leverage on Shareholders’ Distribution Strength to Drive Growth
Kuala Lumpur, 1 March 2014 – Malaysia’s leading life insurer AIA has successfully integrated its Takaful companies AIA AFG Takaful Bhd. and AIA PUBLIC Takaful Bhd. (formerly known as ING PUBLIC Takaful Ehsan Berhad). Beginning 1 March 2014, the businesses will operate under a single licence and brand, and be known as AIA PUBLIC Takaful Bhd. AIA PUBLIC is jointly owned by AIA Co. Ltd. (AIA), Public Bank Berhad and Public Islamic Bank Berhad.
Wan Azman Wan Mamat, Chief Executive Officer of AIA PUBLIC, said, “Our Takaful business is now bigger, stronger and uniquely positioned to serve our customers and partners well into the future as we have combined the best aspects to produce an enhanced suite of products, processes, systems and technological capabilities.” The company is on track to launch 11 new products this year.
AIA PUBLIC will have the advantage of leveraging on AIA and Public Bank’s leadership positions and established infrastructure in the insurance and banking industries locally to drive growth in the Family Takaful space. AIA PUBLIC also has the potential to ride on AIA’s 17,000 Life Planners and Public Bank’s 259 branches nationwide to distribute its suite of Family Takaful solutions.
AIA PUBLIC is the first Takaful operator to have introduced a full-fledged iPad-based sales technology called Interactive Point of Sale or iPoS. The sales and business solutions tool enables standard certificates to be underwritten and processed in less than an hour. The game-changing innovation forms an integral part of AIA’s aggressive plans to connect with its younger customers, and engage with them using platforms they are accustomed to.
“We are strengthening our multi-distribution channels through innovative recruitment activities and business collaborations with reputable partners. With our added strength and capabilities following the integration, we will deepen our commitment to deliver a more personal, relationship-based experience to our customers and partners,” Wan Azman added.
AIA PUBLIC will launch a series of marketing and branding initiatives, including an advertising campaign, to gain wider awareness and recognition among the public. The images in the advertisements depict the challenges and triumphs of key moments in life, demonstrating AIA PUBLIC’s deep understanding of its customers and communicating its promise to meet the financial needs of Malaysians in an ever changing world. Leveraging on AIA’s brand positioning - The Real Life Company - AIA PUBLIC aims to provide the right Shariah-compliant solutions for AIA customers at every life stage.