One AIA Philippines poised to bounce back in 2022

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Metro Manila (CNN Philippines, April 19) — One AIA Philippines — composed of AIA Philippines and BPI AIA — is ending the first three months of the year on a high note, with both firms drawing from improvements fast-tracked in 2021.

During a media roundtable on Tuesday, AIA Philippines chief executive officer Kelvin Ang reported they were able to hit 18% of their target lives saved as of first quarter this year. For 2021, they reached over 70% of their goal.

While last year remained difficult at the back of 2020, Ang said the insurance company opted to "not waste a crisis" and sped up implementing efforts they wanted to do all along.

For instance, 2021 was when AIA Philam Life rebranded into AIA Philippines — a move met with an "overwhelmingly positive" response, according to Ang.

The year also saw the redesign of BPI-Philam to BPI AIA, which CEO Surendra Menon said made it "much clearer" to customers they had two very strong brands: the local BPI, and the international AIA.

For Menon, 2021 was a period for managing through the crises facing the company, while building a much stronger foundation for the future.

Among the initiatives they have launched was the Total Health Solution - an ecosystem that may be accessed through digital platform My AIA. Customers may access all of AIA's products and services through it, allowing a more hands-on approach to health and finances.

BPI AIA, meanwhile, will continue a hybrid approach based on the needs and preferences of customers. This is coupled with the introduction of MyData, a digital process shortening application processes.

"We want to make sure our customers continue enjoying their privileges with an ever-increasing range and standard geared to their lifestyles in this evolving environment," Menon said.

This year, the company will further integrate Environmental, Social, and Governance (ESG) criteria in its operations, Ang said. Included in their efforts are the full divestment of AIA Philippines' coal-related investments; continued digital conversion of buy, service and claims processes; and adherence to green building standards.

"These changes will be important towards operating sustainably and staying true to our purpose as we bounce back and face the new normal," he added.

Ang also cited the wider vaccination drive in the Philippines and existence of anti-COVID drugs, which allow them "a lot more certainty" in managing risks amid the health crisis.

They're "much more positive" with their outlook for 2022, he added.