Aviva today launched its ‘Digital Garage’ in Singapore – a dedicated space where technical specialists, creative designers and business leaders explore, collaborate and test new insurance ideas and services which make financial services more tailored and accessible for customers.
Strategically located in the heart of Singapore, the Digital Garage is an iconic, four-storey heritage shop-house on Armenian Street, with a team of about 100 people, supported by a further 200 technology specialists based in Singapore. It is designed to nurture a flexible, innovative and collaborative environment.
In its capacity as a global and regional centre of digital, analytics and innovation excellence, Aviva’s Digital Garage will bring together four functions:
- Innovation and New Business will turn radical and disruptive ideas into digital prototypes that can be tested in the market
- Digital Projects which make life easier for customers, and digitalise Aviva’s businesses around Asia
- Digital Businesses, which have extensive experience of helping real customers, will bring a commercial edge to the Garage
- And a wide range of collaborators, who will bring their respective expertise to the Garage
Digital is a central part of Aviva’s group strategy, because our customers are increasingly choosing this as their preferred way to interact with us. Through digital, we can support customers more quickly with their enquiries and transactions wherever they are in the world. For instance, Aviva has designed new propositions based on insights from our research and analytics. These include Aviva Poland’s proposition for young, single and urban professionals, which recognises the specific insurance and lifestyle needs of this group.
Chris Wei, Executive Chairman of Aviva Asia and Global Chairman of Aviva Digital, said:
“Digital technology has the potential to transform how we look after customers, making it significantly easier to interact with Aviva. The launch of the Digital Garage in Singapore is an extension of our global ‘Digital First’ strategy, which is crucial to our future success. As a pioneer in digital, we will bring together the best minds – from across Aviva and beyond the insurance industry – to deliver revolutionary digital products, services, and experiences to help our customers at every stage of their lives.”
Andrew Brem, Global Chief Digital Officer, said:
“Technology has changed the way we live our lives, and it is now time to bring the digital revolution to insurance. The Digital Garage underlines Aviva’s commitment to leading the digital transformation, and we are excited to extend the successes of our London Digital Garage to Singapore. Given the vibrant FinTech community, strong digital capabilities and deep talent pool in Singapore, the Garage here is the perfect platform for digital champions to collaborate and make things happen.”
Aviva first established a Digital Garage in London in mid 2015 to develop and explore turning innovative ideas into real financial products and services for customers. The two Digital Garages, in London and Singapore, will come together as a global function, sharing expertise and insights into digital insurance to create a platform from which to serve customers, both in their local regions and across the international markets.
The launch of the Digital Garage reinforces Aviva’s long-term commitment to paving the way for Singapore to be at the forefront of the digital revolution in insurance. This follows Aviva’s signing of the statement of intent with the Monetary Authority of Singapore and Her Majesty’s Government of the United Kingdom in July this year, in an agreement to support and promote digital innovation initiatives in Singapore and across Asia for the benefit of customers.
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Notes to Editors
- In July 2014, Aviva set out its ‘Digital First’ strategy. We put Digital First because our customers are increasingly choosing this as their preferred way to deal with us. Through digital we can support customers more quickly with their enquiries and transactions, wherever they are in the world.
- Digital is how Aviva will capitalise on being a true customer composite (providing customers with all their insurance needs, across life insurance, general insurance, health insurance and asset management).
In putting Digital First, Aviva has:
- Strengthened Aviva’s digital leadership team:
- Chris Wei was appointed Global Chairman, Aviva Digital, in addition to his responsibility as Executive Chairman, Aviva Asia.
- Andrew Brem joined Aviva in August 2014 as Global Chief Digital Officer.
- Wynthia Goh was appointed Chief Digital Officer, Aviva Asia in December 2015.
- Brought a greater digital focus to Aviva’s operations:
- Aviva has created UK Digital, a separate legal entity working alongside our UK Life, General Insurance, Health and asset management businesses and focused on building a direct, truly composite relationship with our customers.
- Aviva has created a digital and innovation centre (Aviva’s ‘Digital Garage’) in Shoreditch, in the heart of London’s technology community, to develop and test new insurance ideas and services which make financial services more tailored and accessible for customers.
Launched and tested new innovative products and solutions worldwide such as:
- Aviva-COFCO (China) launched its Health and Wellness Platform, a service offering remote GP consultations, with 150,000 users in its trial period. Watch more on https://www.youtube.com/watch?v=BXVhbAGXse8
- Aviva was the first company to introduce online/direct car insurance to the Singapore market in 2010.
- MyAviva online platform, allowing customers to view all their policies across life, general and private medical insurance all in one place.
- The Aviva Drive app, designed to reward safe drivers with lower premiums, has achieved c.400k downloads and registered almost 30million miles of customers’ driving since it was launched.
- In Poland, Aviva has set up its virtual branch’, where customers can hold a video conference with a professional advisor on their investment choices, complete their application and make their investment online.
- Aviva signed a partnership with Babylon, a virtual health service app aimed to improve customers’ access to healthcare, was launched in the UK and Ireland in 2015.
- Aviva is continuously testing new ideas. As an example, we recently beta- tested a new insurance app specifically designed to provide cover for drivers who wish to borrow a car for the occasional short journey.
- Aviva was awarded UK Digital Insurance company of the year at the Incisive Media Awards.
- Follow us on twitter: www.twitter.com/avivainnovation/
- Aviva provides life, general and health insurance and asset management services to 34 million* customers world-wide. Aviva was established 318 years ago; it has £311 billion (US$494) assets under management and operates in 16 markets internationally.
- Aviva’s portfolio of businesses is grouped into three areas. Cash flow generators are UK, France and Canada. The turnaround businesses are Italy, Spain, Ireland and Aviva Investors. Future cash flow generators are Poland, Turkey, Singapore, Indonesia and China.
- Aviva combines strong life insurance, general insurance and asset management businesses under one powerful brand.
- Aviva is committed to serving our customers well in order to build a stronger, sustainable business, which makes a positive contribution to society, and for which our people are proud to work.
- The Aviva media centre at www.aviva.com/media/ includes images, company and product information and a news release archive.
- For broadcast-standard video, please visit http://www.aviva.com/media/video-interviews/
- Follow us on twitter: www.twitter.com/avivaplc/
* Before the deduction of Aviva and Friends Life overlapping customers.
About Aviva Asia
- Aviva operates in seven markets in Asia (China, Hong Kong, India, Indonesia, Singapore, Taiwan, and Vietnam).
- Aviva ranks among the top eight foreign life insurers through 50% joint venture with COFCO Ltd. in China, operating in twelve provinces and over 54 cities.
- Aviva has had a presence in Hong Kong for more than 150 years.
- Aviva operates in partnership with the Dabur Group in India, with a wide distribution network of 121 branches spreading across nearly 1,000 towns and cities.
- In Indonesia, Aviva signed an agreement to enter into an equal joint venture agreement with Astra International, the biggest publicly listed company in Indonesia to sell and distribute life products.
- Aviva is a top five life insurer in Singapore and one of the biggest providers of employee benefits and healthcare insurance.
- Aviva operates in partnership with First Financial Holdings in Taiwan, with a wide distribution network of 190 branches across the country.
- In Vietnam, Aviva operates as Vietinbank Aviva Life Insurance Ltd Co, a joint venture with Vietnam Commercial Joint Stock Bank of Industry and Trade.
About Aviva Singapore
- In Singapore, we’re a leading provider of retirement, investments, insurance and health solutions.
- Our purpose is to free people from fear of uncertainty.
- We’re a provider of Medisave-approved Integrated Shield plans as well as an appointed insurer for the national ElderShield scheme, and we constantly find innovative ways to enhance our products, ensuring they remain relevant to our customers’ needs.
- Being the pioneer general insurer in Singapore to offer motor, travel and home insurance solely via the internet (aviva.com.sg), we offer simplicity, convenience and cost savings to customers.
- We’re one of the biggest providers of employee benefits and healthcare, including protecting Singapore Armed Forces servicemen since 1983 as well as being the appointed insurer for the Public Officers Group Insurance Scheme (POGIS).
- Our funds administration solution, Navigator, with its wide variety of funds, remains one of the preferred investment platforms in Singapore.