BankBazaar Singapore – December 22, 2017
SINGAPORE: The third edition of the Management Excellence Awards, organised by Singapore Business Review, honoured AIA Singapore with the Innovator of the Year award in the category of Insurance. AIA won this award for its Diabetes Care plan, which plugs the gap in the underinsurance segment for patients suffering from diabetes.
This initiative by AIA is Singapore’s first diabetes insurance plan and is associated with the Singapore government’s efforts targeted at resolving a nation-wide concern of fighting diabetes in Singapore.
Singapore is home to more than 440,000 diabetic patients which is reportedly the second highest level of diabetics in developed countries. This number is expected to go up even further and reach the 1 million mark by 2050. In the coming three decades, almost one in three Singaporeans have the possibility of developing diabetes.
AIA’s Diabetes Care was developed by taking into consideration insights from customers. It concentrates on plugging the gap in underinsurance for people suffering from Pre-Diabetes and Type II Diabetes, who struggle to get coverage.
AIA’s Diabetes Care provides patients with easy access to protection. Instead of going through the cumbersome underwriting process of filling up complex forms, customers will get covered by just answering five simple questions related to diabetes.
AIA Singapore’s representative Yong Hong Sen collected the award on behalf of AIA Singapore at the dinner on December 6. The winners of the Management Excellence Awards were judged by Azman Jaafar from RHTLaw Taylor Wessing LLP, Foo Yuet Min from Drew & Napier, Lim Wei Wei, from Baker Tilly TFW, Jeff Watts from SEA Consulting Asia Pacific Consulting Leader at Deloitte and Henry Tan from NEXIA TS.
The awards recognised the achievements of extraordinary senior management executives across industries. The senior executives were awarded for their initiatives that fetched real gains for their organisation’s operations. The awards ceremony was held on December 6 at Conrad Centennial Singapore.