AIA Vietnam is navigating the promising yet challenging Vietnamese life insurance market under the helm of newly appointed CEO Andrew Loh, who embodies both dynamic leadership and strategic vision with his long-standing connection to the industry. Recognising the sector's hurdles, Loh has charted a clear path to success, firmly believing in AIA Vietnam's ability to provide unparalleled value to its customers.

Loh's journey into the insurance world began long before his professional career. His parents, esteemed insurance agents with over 40 years of experience, significantly influenced his path.

Growing up, Loh frequently accompanied them on customer visits, witnessing first-hand the crucial role insurance plays in safeguarding lives and assets.

This family tradition in insurance is more than a heritage; it's a powerful motivator driving his commitment to excellence. His parents' success with AIA Malaysia serves as a constant source of inspiration, pushing him to achieve remarkable feats in his career.

Since joining AIA Group in 2017, Loh has held several pivotal positions, including CEO of AIA Cambodia and CFO, Chief Actuary at AIA Malaysia, where he garnered a wealth of experience and honed his technical expertise.

Loh's appointment as CEO of AIA Vietnam in March 2024 marked a new chapter in his career. Bringing insights from his tenure in larger markets like Malaysia and emerging markets like Cambodia, he approached his role with a focus on understanding the unique dynamics of the Vietnamese market.

“Vietnam as a country, its culture, and its consumers are so unique and distinct,” he said.

His first six months were spent actively listening to and learning from his team, agents, and, most importantly, the customers. This approach underscores his belief in the importance of collaboration and community engagement in driving AIA Vietnam's success and helping people live healthier, longer, and better lives.

Loh reaffirms AIA Vietnam's clear and ambitious strategy of being customer-centric, prioritising long-term value over short-term goals. "Customers come first, and they are our top priority," Loh emphasised. "This is a crucial lesson, especially post-pandemic."

Amid a challenging Vietnamese life insurance market with diminished customer trust and new regulations established to strengthen business quality, AIA understands that sustainable growth requires building long-term relationships rather than relying solely on promotion campaigns.

He immediately focused on enhancing service quality to meet customer needs in every transaction. As part of the AIA Group, AIA Vietnam leverages the group’s power and legacy to provide ultimate life insurance solutions, supporting customers at every life stage.

Since its operation began in 2000, many customers have benefited from AIA Vietnam's living benefits, particularly staying healthier.

Loh shared that the company's investment in digital transformation is a strategic step to enhance the customer experience. He emphasised that in today's digital age, the convenience and efficiency brought by technology are undeniable.

"Technology is becoming increasingly important in most fields, including life insurance, as it can provide seamless customer experiences," he said. "Applying advanced technologies helps AIA Vietnam optimise work processes and provide faster, more precise, and friendlier customer services."

As a result, AIA Vietnam has proactively invested heavily in technology from an early stage, building an ecosystem with many customer-centric digital applications and providing platforms and tools to support financial advisors in better serving customers.

AIA+, a comprehensive digital platform, allows customers to easily manage their insurance policies, track benefits, and update information anytime, anywhere. The welcome videos create engagement and a sense of friendliness from the first moment customers join AIA, ensuring their purchases are based on need, not just desire.

The application of AI in insurance claims and benefits processing has become a significant highlight. AI technology makes this process faster, more accurate, and transparent, efficiently addressing customer needs.

"Our data shows that AIA Vietnam’s customers are also getting younger. Therefore, we must always be ready to accompany them in the most comfortable and enjoyable way," Loh said.

AIA not only protects financial security but also inspires healthy living. In 2023, it introduced AIA Vitality, a scientifically based health programme to support healthy lifestyle choices. AIA Vitality promotes regular exercise, a balanced diet, and periodic health checks. Customers buying the integrated product with the AIA Vitality programme return happy after the first year of purchase, enjoying its benefits and receiving cover boosters for their commitment to healthy choices.

"You should try it. Why can't we all be financially protected while being inspired and encouraged to live healthier and more enjoyable lives every day?" Loh said. "As an AIA Vitality Platinum member, the initiative has personally inspired me to change my lifestyle to pursue healthier choices while enjoying insurance benefits."

AIA emphasises the importance of dedicated agents in engaging and serving customers. With product similarities under new regulations, best-in-class service requires agents who are passionate about solving customers’ problems. Leveraging the AIA ecosystem, agents can enhance their customer interactions. AIA Vitality is key to facilitating these connections.

Also, through capability development programmes and group frameworks, AIA Vietnam builds and nurtures an unbeatable agency. Loh believes this career professionalism offers agents a rewarding journey, especially when helping customers through significant life events and alleviating their financial burdens. His parents' experiences have reinforced this strong belief in him.

"You are either serving a client or helping a colleague serve a client," he said. “One of my key focuses in steering the company towards sustainable growth is to align the organisation to one single focus: the customer is at the heart of everything we do.”

Having a big team with diverse backgrounds is one of AIA's greatest assets. In a world of shifting technology, changing customer preferences, and increasing demands, employees can leverage each other's strengths to drive business efficiency and boost performance. To be a customer-centric organisation, AIA staff are encouraged to deeply understand and address customers' problems and to uplift capabilities. The company must continuously evolve its solutions to better serve its customers.

As a legacy of over 100 years, AIA’s approach to leadership is grounded in its leadership essentials: clarity, courage, and humanity. The company prioritises developing its internal workforce to cultivate leaders who can continue driving change and making impactful contributions to lead the industry.

"While our purpose drives everything we do, it’s our people that really bring our purpose to life,” Loh shared.