Tiki Global Pte. Ltd. has just appointed Wayne Besant – CEO of AIA Vietnam Life Insurance Co., Ltd. – to its Board of Directors, after the fifth successful funding round (Series E) led by shareholder AIA Co., Ltd.
|Wayne Besant, CEO of AIA Vietnam |
Along with this, Wayne Besant, representing AIA’s shareholders, has been appointed as a non-executive director of Tiki Global Pte. Ltd. and will manage the board of directors following Tiki’s internal regulations and Singaporean law.
In the position of AIA Vietnam’s CEO, Besant has helped the company to sustain a consistent double-digit growth rate since 2015. Previously, he was CEO of AIA New Zealand for five years and managing director of Retail Banking of ANZ Bank after working there for 23 years. With an honorary master’s degree in social sciences and business administration, Besant is also an Honorary Fellow of the National Banking Institute of New Zealand.
Leveraging his 30 years-plus experience in finance, banking, and insurance, Besant is expected to deliver outstanding contributions in the new position.
“Our ultimate goal is to help Vietnamese people live a happier and more convenient life,” said Tran Ngoc Thai Son, founder and CEO of Tiki. “With values thanks to Wayne’s experience in finance, banking, and insurance, Tiki believes that we could better accommodate the demand of customers in the digital age, especially in finance and insurance, as well as secure our leading position in online commerce.”
In response to this expectation, Besant pledged to support Tiki’s growth with his experience and knowledge. The new capital raised in a Series E round will be used to create infrastructure, improve technology, strengthen supply chains, train human resources, provide sustainable advantages to consumers, and assist Tiki in exploring the Vietnamese market further.
|Representatives of AIA Vietnam and Tiki |
Along with benefits for Tiki, the appointment also promises to bring great advantages for AIA Vietnam, because one of the top strategies of AIA Vietnam’s CEO in his new position is to build the insurtech platform integrated into e-commerce.
AIA Vietnam will develop its online insurance distribution channel on the e-commerce platform as a result of this plan, while also improving the online experience of clients.
Previously, AIA Vietnam and Tiki agreed to a 10-year strategic, comprehensive, and exclusive partnership starting from July, making it the longest agreement between a life insurance company and an e-commerce platform. By November, both sides had collaborated on the music video “Walk Confidently” to promote healthy living in the community.
On December 14, AIA Vietnam launched the Care Nex Support for hospitalisation and accidental surgery and Ultra Care Nex Support for hospital and surgery expenses on Tiki. Customers can join AIA insurance immediately on Tiki with just a few simple online steps, cashless payment, and online contract signing, and manage and claim insurance records 24/7 online for a reasonable premium.
In a short period, Tiki has reached over 20 million customers and 50,000 people have visited the official AIA Vietnam page to learn more about its products. AIA Vietnam will introduce more financial solutions soon that are straightforward, practical, easy to comprehend, low cost, and that leverage technology to bring life insurance closer to Vietnamese people.
The cooperation between these two major players aims to bring customers efficient products and services, especially considering that online insurance is just at its early stage of development in Vietnam.