Article date: 27 July 2015
Aviva announces today the development of a ‘Digital Garage’ in Singapore – a dedicated space where technical specialists, creative designers and commercial teams explore, develop and test new insurance ideas and services which make financial services more tailored and accessible for customers.
The digital centre will have a starting team of 30 people, supported by a further 200 technology specialists based in Singapore. The building will be designed to support a different working style from traditional insurance offices, in a bid to drive greater collaboration and project-based working, and to encourage fresh thinking.
The Garage will take a place in Singapore’s emerging digital economy. Building on collaborations thus far, Aviva will establish lasting relationships with the Singapore FinTech community and start-ups, with partners, and with research bodies.
Aviva is a pioneer of digital insurance in Singapore, and the Digital Garage will build on Aviva’s experience of providing motor insurance, travel insurance, home insurance, pensions and investments online in Singapore and internationally. Aviva has already established a similar Digital Garage in London and will share expertise and insights into digital insurance gained in the UK with the new digital centre in Singapore.
Prime Minister David Cameron said:
“The UK and Singapore are at the forefront of digital innovation. It’s great news that Aviva are launching this digital hub, bringing together experts to develop new digital products and services to customers."
Ravi Menon, Managing Director, Monetary Authority of Singapore, said:
“MAS looks forward to partnering industry players, like Aviva, to promote the use of innovative ideas and new technologies to provide customised insurance solutions at affordable prices in key areas such as health, wealth, and retirement. We are well placed to do this, given Singapore’s vibrant FinTech community, strong digital capabilities, and deep talent pool in analytics.”
Mark Wilson, Group Chief Executive Officer, Aviva plc, said:
“Aviva puts digital first because that’s how our customers want to deal with us. The new digital garage will create the products and services they want, how they want them and when they want them. But the Singapore innovation centre is far more than a building – it’s a campus, where the best brains bring the best ideas and make them happen.”
Chris Wei, Executive Chairman of Aviva Asia and Global Chairman of Aviva Digital, said:
“This new space will help Aviva deliver revolutionary digital products and services. In this way, we will capitalise on our major strength as a composite insurer offering a full range of life, general, health insurance and asset management products, to help our customers at every stage of their lives.”
The UK’s largest insurer builds on its commitment to Singapore
The new Aviva Digital Garage in Singapore underlines Aviva’s long term commitment to Singapore. Aviva is an industry leader in Singapore, having built a meaningful market presence and is one of the few composite insurers able to offer a one-stop shop for all their customers’ savings, retirement, life, health and general insurance needs.
In addition to its local Singapore business, Aviva opened its Asia regional office in Singapore in 1999 to be a centre of expertise and governance from which to grow its businesses around the region. Aviva’s Asia business is a significant part of the group and in 2014 grew value of new business by 30%.
Yasmin Saleh +44 (0)207 662 8710
Notes to editors
- In July 2014 Aviva set out its ‘Digital First’ strategy. We put Digital First because our customers are increasingly choosing this as their preferred way to deal with us. Through digital we can support customers more quickly with their enquiries and transactions, wherever they are in the world.
- Digital is how Aviva will capitalise on being a true customer composite (providing customers with all their insurance needs, across life insurance, general insurance, health insurance and asset management).
- In putting Digital First, Aviva has:
Strengthened Aviva’s digital leadership team:
- Chris Wei was appointed Global Chairman, Aviva Digital, in addition to his responsibility as Executive Chairman, Aviva Asia.
- Andrew Brem joined Aviva in August 2014 as Chief Digital Officer.
Brought a greater digital focus to Aviva’s operations:
- Aviva is creating UK Digital, a separate legal entity working alongside our UK Life, General Insurance, Health and asset management businesses and focused on building a direct, truly composite relationship with our customers.
- Aviva has created a digital and innovation centre (Aviva’s ‘Digital Garage’) in Shoreditch, in the heart of London's technology community, to develop and test new insurance ideas and services which make financial services more tailored and accessible for customers.
Launched and tested new innovative products and solutions worldwide such as:
- Aviva-COFCO (China) launched its Health and Wellness Platform, a service offering remote GP consultations, with 150,000 users in its trial period. Watch more on https://www.youtube.com/watch?v=BXVhbAGXse8
- Aviva was the first company to introduce online/direct car insurance to the Singapore market in 2010.
- MyAviva online platform, allowing customers to view all their policies across life, general and private medical insurance all in one place.
- The Aviva Drive app, designed to reward safe drivers with lower premiums, has achieved c.400k downloads and registered almost 30million miles of customers’ driving since it was launched.
- In Poland, Aviva has set up its virtual branch’, where customers can hold a video conference with a professional advisor on their investment choices, complete their application and make their investment online.
- Aviva signed a partnership with Babylon, a virtual health service app aimed to improve customers’ access to healthcare, was launched in the UK and Ireland in 2015.
- Aviva is continuously testing new ideas. As an example, we recently beta- tested a new insurance app specifically designed to provide cover for drivers who wish to borrow a car for the occasional short journey.
Aviva was awarded UK Digital Insurance company of the year at the Incisive Media Awards
- Aviva provides life insurance, general insurance, health insurance and asset management to 34* million customers, across 16 markets worldwide.
- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.
- Aviva’s asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £245 billion in assets.
- Aviva helps people save for the future and manage the risks of everyday life; we paid out £24.6 billion in benefits and claims in 2014.
- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.
- The Aviva media centre at http://www.aviva.com/media/ includes company information, images, and a news release archive.
- For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/
- For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/
- Follow us on twitter: www.twitter.com/avivaplc/
* Before the deduction of Aviva and Friends Life overlapping customers.