Responding to market demand, customer-needs-driven life insurer ageas attributes its success to quality, customised products and services

“The need to meet evolving challenges in the market is driving Ageas Hong Kong to satisfy our customers’ needs," said Ageas Insurance Company CEO Stuart Fraser.

One of Hong Kong’s largest life insurance companies, Ageas Hong Kong is a wholly-owned subsidiary of Ageas, an international insurance group with a heritage dating back more than 180 years. Headquartered in Belgium and Netherlands, Ageas is among Europe’s top 20 insurance companies, with 13,000 employees working throughout Europe and Asia. Combining global strength with local flexibility, the company offers the Hong Kong market a diversity of financial protection products and wealth management services.

“Our professionalism is recognised by the many accolades the company has received recently”, Fraser continues. “Besides the High-Flyers Award, they include being named Company of the Year (Insurance) in the prestigious SCMP/ FPHK Financial Planner Awards 2011. Our financial planners were also the Industry Winners for 2009 and 2011 in the same awards.”

Innovative and comprehensive one-stop financial planning solutions
Ageas Hong Kong treasures the long-term relationships it has with its customers, and it promotes them with a holistic approach to financial planning. This is based on three pillars: “Protection”,“Savings” and “Investment”. The concept enables Ageas customers to take good financial care of  themselves at different stages of their lives. geas Hong Kong also upholds its commitment to innovation by offering a complete range of diversified and competitive products that deliver tailor-made solutions for their individual needs.

“In 2011, Ageas Hong Kong became one of the pioneer companies authorised to provide Capital Investment Entrant Scheme (CIES) products – products designed for those wishing to apply for the right of abode in Hong Kong as investors,” Fraser notes. “The launch of our product – only the secondof its kind – displays our visionary and forward-looking mindset.”

“The Renminbi (RMB) has appreciated substantially in recent years. The market therefore has a huge demand for RMB-denominated products. Against this backdrop, we have launched our first RMB product, the ‘Dynasty’ RMB Endowment Plan. With premiums starting as low as RMB9,200 and a premium payment period of just 2 years, this plan is proving popular. Customers will receive a guaranteed return of 109.3 percent of the total premiums they have paid and the benefit of potential RMB appreciation when the plan matures after 5 years. This product suits Hongkongers’ demand for effective investments.” 

Ageas Hong Kong also proactively demonstrates the depth of its concern for its customers’ well-being. Referring to health protection, Fraser says: “A survey found that one in every 10 Hong Kong residents suffers from diabetes. The company has therefore been quick off the mark in responding to their needs by being the first insurer to introduce a Diabetes Mellitus Benefit under the “Forever Health” Critical Illness Insurance Plan.

Leading the market in IT development
Ageas Hong Kong is actively expanding its business and the reach of its marketing and promotion activities by leveraging on opportunities provided by advancements in IT. For instance, it was the first insurance company to start using Google Apps.

The company has launched 3 free iPhone insurance Apps, “We Love the Future”, “Love Your Kid’s Future” and “WeLove the Future: Your Earning Power Protection Formula”. Their easy-to-use and user-friendly design interface means users can easily get an instant and precise overview of the funds they will require for their retirement, preparing for their children’s education, and any unforeseen circumstances they encounter in life.

The company is certainly forward thinking. It was the first insurer in Hong Kong to use augmented-reality (AR) technology in its advertising. Smartphone userscan download “U tie” and use it to capture key visuals in Ageas ads on the MTR trackside. From there, they are directed to the latest promotional videos. 

Caring for the community
Ageas Hong Kong actively gives back to the community. “We are committed to shouldering our corporateresponsibility in line with our corporate motto: ‘We love the future’,” says Fraser. “To this end, we have been a presenting sponsor of Kitchee scola since 2008. This school provides completely free football training to aspiring young footballers aged 6 to 14.”

Ageas Hong Kong has also become the title sponsor of the HKPGA Championships for 3 years, allowing this high- rofile annual golf event to be revived after being suspended for 6 years.

Moreover, the company was the major sponsor of Hong Kong League winners Kitchee’s exhibition football match against Spanish League (La Liga) Villarreal C.F. It was the only large-scale sports event staged in the city that raised funds for victims of the Japanese earthquake, tsunami and nuclear disaster.

FAST FACTS
• The financial status of Ageas Hong Kong is confirmed by a number of global rating agencies, namely : A- (Excellent) by A. M. Best, A- by Fitch Ratings, and Baa1 by Moody’s.

• Ageas Hong Kong has more than 2,400 professionally trained  and highly skilled consultants. Their calibre is reflected by the fact that 6 percent of them are members of the Million Dollar Round Table, the premier international association for financial professionals.

• The company has been awarded “Caring Company” logo for the past nine consecutive years by The Hong Kong Council of Social Service.  

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Tags: Stuart Fraser, Ageas Insurance Company (Asia) Limited, Hong Kong Business High-Flyers awardees