Trusted for life
WHAT does it take to become the top life insurer in South East Asia? The
unwavering trust of your customers. At least that’s what the late
Cornelius Vander Starr strove for when he founded International Assurance
Company, Ltd (INTASCO) in 1931.
Some seven decades later, the company, now known as American
International Assurance Company, Ltd (AIA), continues to earn the trust of
its international clientele, who named it the most trusted insurance
company, according to the Global Financial Images 2002 survey conducted by
Time and Fortune magazines. The company, a wholly owned subsidiary of
American International Group, Inc, has also consistently received AAA
ratings by credit-assessment company Standard & Poor’s since 1997.
In its 56 years in Malaysia, AIA has built on its founder’s vision to
become one of the country’s largest life insurers. It boasts a network of
23 branches nationwide, 1,000 staff and 8,400 agents, as well as more than
1.4 million policyholders.
AIA Malaysia is headed by Richard L. Bender, its executive vice
president and general manager. `Because our agents make up the public face
of the AIA brand, we recruit and train top local talent to provide quality
service to our customers,’ he says. `Working together to ensure the best
service and products as well as fully satisfied clients, AIA’s staff and
agents are highly respected and valued assets of the company.’
AIA Malaysia has a team of more than 1,000 qualified financial planners,
and its staff undergoes continuous training to upgrade their skills. In
2003, AIA had the highest number of Million Dollar Round Table (MDRT)
qualifiers in Malaysia and outside of the United States.
It is also the first insurance company in Malaysia to adopt Mobile
Internet Services, which enables field agents to instantly update
customers on policy information, premiums, promotions and new products and
services, creating a fully mobile, agency sales force.
`A leader in product innovation, AIA continues to meet the evolving
needs of its Malaysian consumers,’ Bender adds. `Its insurance policies
offer more than protection; they have become a vehicle for savings,
investment, risk management, pension planning and fund management – with
something to match different needs.’
In 2000, AIA introduced its first two investment-linked products –
ExcelTrust and ExcelLink. It was also the first in Malaysia to launch a
capital-guaranteed investment-linked product, the AIA Capital Guaranteed
Account. Catering to the elderly, a first in Malaysia, AIA launched the
AIA GoldenAge Senior Citizen life insurance plan in 2002 and its AIA
MediSenior plan in 2003. Another pioneer product is the AIA Lifestyle 5,
which covers telemedicine access or second opinion to policyholders
diagnosed with a critical illness.
Its latest product offering, the AIA Capital Builder, marks another
first in the industry. The single-premium investment-linked product offers
innovative features such as no up-front charge and an automatic fund
Today, AIA operates branch offices in Malaysia, China, Hong Kong SAR,
Singapore, Thailand, Brunei and Bermuda. AIA’s affiliates also operate
insurance businesses in Macau, Guam, Vietnam, Indonesia, the Philippines,
Taiwan, Japan, Korea, Australia, New Zealand and Saipan.
As it expands and changes with the times, AIA remains committed to its
core values – customer focus, profitable growth, continuous improvement,
personal accountability, constructive teamwork, and people orientation –
and its vision to be the most trusted insurance company.
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