Driving Aviva's digital transformation
Chris Wei says Aviva's new digital insurance JV is a business rethink, selling no-commission term life and critical illness plans.
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Genevieve Cua
Singapore
AN OPPORTUNITY to drive a UK-based insurance group's digital ambitions has turned into a passion for Chris Wei, Aviva Digital's global chairman. For Aviva, the digital challenge is bearing fruit to date. The insurer generated £1 billion (S$1.8 billion) from digital sales in the UK in 2017.
The next challenge may well be Asia. Blue, Aviva's digital insurance joint venture with Hillhouse Capital and Tencent Holdings Ltd, has just been launched in Hong Kong, and will sell no-commission term life and critical illness plans. Direct and digital sales currently account for less than 1 per cent of Hong Kong's life insurance sales.
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