ACE Life Hong Kong launches ‘Y-5’ campaign and other enhanced services

The insurer introduced special premium promotion for the first 3 years for designated plans while enhancing its underwriting and claims services.

ACE Life Insurance Company Ltd. (“ACE Life Hong Kong”), a part of the ACE Group of Companies, global leaders in insurance and reinsurance, announced Thursday a slew of customer-centric initiatives to boost operational efficiency and benefits for policyholders. First among these initiatives is the launch of the “Y-5” campaign - for customers who apply for any designated plan by 31 October 2011. The premium which customers will pay for the first three years will be calculated based on their age less five years, hence “Y-5”. In addition, the company is introducing a simplified underwriting process for selected products and a seven-day service turnaround commitment for claims.

Diana Kwan, Chief Marketing Officer, ACE Life Hong Kong, said, “ACE is very committed to grow its life business. We have undertaken careful market analysis to develop various initiatives to meet the customers’ financial needs. The launch of the “Y-5” promotion exemplifies our continuous effort to offer a diverse range of innovative products and enhance our services to achieve customer satisfaction. It enables our customers to enjoy the benefits of purchasing insurance at premiums offered at a younger age.”

The “Y-5” campaign targets insured aged between five and 60, and is applicable for designated plans, including Custom Whole Life, Supreme Care Critical Illness Protector and Flexi-Savings.

In addition, ACE Life Hong Kong is enhancing its underwriting and claims services. Customers who apply for any designated plan2 by 31 December 2011, and who already have at least one policy 3 over the past two years with a designated insurance company, will only have to complete a brief health declaration. This simple underwriting process will enable customers to commence their life insurance protection as early as possible.

The company also pledged to settle claims payments within seven working days4 upon receipt of claims forms without any outstanding requirements for supporting documents or reports. Customers will be compensated with supermarket coupons4 worth up to HK$100 each if this claims service target is not met by ACE Life Hong Kong.

Stephen Wong, Chief Operating Officer, ACE Life Hong Kong said, “ACE is committed to delivering excellent service to its customers. We aim to achieve greater customer satisfaction by providing efficient underwriting and claims services. Through a simplified underwriting process for our basic plans, we can help our customers to commence their life insurance protection the soonest possible. On the other hand, the seven-day service turnaround commitment for claims helps to relieve our customers’ of their financial burden in the event of an accident or hospitalisation.”