AIA continues to serve our customers... and agents

The continuity of this campaign from the prior year is to align with AIA's vision of "Protecting Youe Future" for our policyholders and agents.

1. Objective

• To assist agents in maintaining persistency by reducing lapse rate.
• To retain the Life business for the company
• To enhance the retention efforts with option for low cost PA protection when customer declines reinstatement

2. Target Base

• Pre-lapse customers : selected existing noon-autopay policyholders who are 35 days past the premium due date.
• Lapse customers : Selected existing policyholders whose policy has lapsed and are 65 days past the premium due date.
• Selection criteria are applied to determine select customers

3. Approach

• Telemarketing will be the distribution channel for this campign and call duration is from Monday to Friday.(9am to 9pm)

4. Mechanics

• Reinstatement
  - pre-lapse cutomers
  * Calls will be conducted between 36th day to 45th day from premium due date.
  * Outstanding premium payment to be made by 50th day from premium due date.
  * Customer will be offered option to convert to GIRO payment mode. * Customer may pay their outstanding premium via cash, cheque or credit card.
  + Customer paying outstanding premium by cash will be advised to do so at AIA Tower Cashier or SAM.
  + Customer paying outstanding premium by cheque may have courier pick-up service arrangement or submission through servicing agent
  + Customer paying outstanding payment premium by Credit Card will furnish card details over the telephone for precessing.
  
  - Lapse Customers
  * Calls will be conducted between 65th to 78th day from premium due date.
  * Outstanding premium payment to be made by 83th day from premium due date.
  * For non-autopay customers, they will be offered option to convert to GIRO Payment mode
  * Customer may pay their outstanding premium via Cash, Cheque or Credit Card.
  + Customer paying outstanding premium by cash will be advised to do so at AIA Tower Cashier or SAM.
  + Customer paying outstanding premium by cheque may have courier pick-up service arrangement or submission through servicing agent
  + Customer paying outstanding payment premium by Credit Card will furnish card details over the telephone for precessing.
  
  - Cross Sell of Accident Cashback Plan
  * Payment option: Cheque, GIRO and Credit Card.
  * A courier service will be engaged to collect payment if it is cheque and to also obtain policyholder's endorsement on the GIRO form.
  * Policy contract will be mailed to the policy holders 2 to 3 weeks from the date of enrolment or date of counter offer sign-off, whichever is later
  *The policy documents consist of the following:
  + policy contract
  + Product summary
  + Acknowledgement letter
  + Business Reply Envelop
  (Policyholder is required to acknowledge recipent of the policy documents by sending the acknowledgement letter back to AIA using the BRE.
  

5. Benefits and Incentives

• Policyholders
  - Continuity with protection and the convenience of reinstatement over the telephone
  - Waiver of Health Certificate with just Simplified Health Declaration during the telemarketing call.