Aviva awarded "Service Channel Innovation"


In its inaugural edition, the Financial Insights Innovation Awards (Insurance) recognizes the successes of insurers in displaying innovation to realize business objectives

Singapore, August 26, 2011 – Aviva, the world's sixth largest insurance company, was presented the prestigious 'Service Channel Innovation (Direct Channel)' award by IDC Financial Insights at the inaugural Financial Insights Innovation Awards (FIIA), held at the Asian Insurance Congress (AFS) in Singapore yesterday.

Aviva, which sells a range of general insurance products via its online direct model, was amongst the 68 high-quality entries submitted by leading insurers across Asia Pacific.

"This award is testament to the hard work by all our employees at Aviva. It is our aim to make a positive difference in our customers' lives, and we're proud to be recognized for doing just that," said Simon Newman, CEO of Aviva Singapore.

"Aviva is committed to bringing the latest innovation to Singapore's competitive insurance market. We were the first insurer to offer car, home and travel insurance solely via the internet, bringing convenience and cost savings to our customers. This breakthrough approach has given vehicle owners the opportunity to generate their own quotes, tailor them to fit their specific needs and experience the convenience of being able to purchase on the spot," added Mr. Newman.

The FIIA (Insurance) program recognizes Asia Pacific insurers that have applied innovation to drive business differentiation. Insurers were invited to nominate initiatives that demonstrated innovation in customer engagement, channel enhancement, product development, and operational transformation. The initiatives were rigorously evaluated and scored against a set of criteria with weightage given to responsiveness to market needs, effectiveness of implementation, market take-up, sustainability, customer impact, and nature of innovation.

"By providing the necessary information and tools in a simplified, ubiquitous user environment, Aviva's online direct platform allows customers to make effective purchasing decisions on-demand. This clearly ticks the boxes in terms of service channel differentiation." - Shawn Yip, FIIA Program Director, IDC Financial Insights.