AN effective leader offers teammates clarity on one's vision by showing them how that translates into what the leader does every day.
"A leader's everyday actions speak loudly and set the tone so that everyone understands what is expected of them and of others," says AIA group chief executive Lee Yuan Siong, the Outstanding Overseas Executive winner at this year's Singapore Business Awards. Lee is being recognised for his achievements as a global business leader in the insurance sector.
People tend to reach for certainty in a time of rapid change and unpredictability, and leaders may not always be able to offer that sense of certainty.
Leading with clarity, then, allows existing frameworks to work effectively even in the midst of ambiguity, Lee says.
There was no better time for the 56-year-old to walk the talk than when he took the helm of the storied insurance giant at the height of the Covid-19 pandemic.
Lee was AIA's group chief executive and president-designate from March 2020 and assumed full responsibility in June that year.
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When he took over, one of AIA's top priorities was to ensure that employees and their families stayed healthy and secure. It did so by offering on-site vaccination, as well as additional vacation days for employees to get vaccinated against the virus. The company also ran health and wellness programmes for staff.
"With our employees healthy and secure, AIA was able to better serve our customers and communities," says Lee, who responded to The Business Times' queries over email.
Like many other insurers, AIA made adjustments to the types of insurance it offered and how it delivered these products, such as by using digital capabilities to reduce in-person contact.
Lee's experience in insurance spans 3 decades. Prior to taking charge of AIA, he had spent almost 17 years at Chinese insurer Ping An. Before that, he held various regional leadership roles at Prudential.
While he is based in Hong Kong, Lee was born and bred Singaporean and had started his career as a scholar with the Monetary Authority of Singapore.
Singapore's multiculturalism and sense of community has put him in good stead, Lee says, in embracing diverse cultures and adapting to new environments throughout his education and vocation.
He shares of his belief that the insurance industry plays a critical role in protecting families and benefiting societies.
"By delivering shared outcomes, our aim is to create a win-win for customers, business and society at large. I bring this passion and conviction to what I do every day," he says.
Going into the future, one of Lee's aspirations for AIA is for it to capture new growth opportunities and better connect with customers through the use of technology and digital analytics.
To this end, it established Amplify Health, a pan-Asian health insurtech business based in Singapore, in February this year. The business deploys health tech assets, proprietary data analytics and extensive health expertise to AIA's businesses across the region as well as to other participants in the healthcare sector.
The company is also mindful of environmental, social and governance priorities and has divested its directly-managed listed equity and fixed income exposure to coal mining and coal-fired power businesses.
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