The All-In-One Insurance Company
Founded in 1998, BOC Group Life Assurance Company Limited (BOCG Life) has leveraged its excellent products, quality services and the connections of its parent company - BOC Hong Kong (Holdings) Limited, to emerge as one of the top insurance companies in Hong Kong, especially in the RMB life insurance market. BOCG Life has been well received by its customers, such that it has won Best-in-Class for both Customer Onboarding and Service Innovation in addition to an Outstanding Achiever Award for Online Usability.
“BOCG Life has been operating under a robust bancassurance model with a strong distribution network to reach different segments of customers in Hong Kong. Our products and services have become an integral part of the wealth management solutions offered to customers. And our rapid growth in recent years bears witness to the success of our development in various areas,” said Charity Au, Chief Operating Officer of BOCG Life.
As evidenced by BOCG Life’s Best-in-Class Award in Service Innovation, it has been providing market leading services to customers. Accompanied with technological advances, BOCG Life is dedicated to providing new and unique services to first-time and long-term customers alike. BOCG Life has unveiled several new services over the last year for the purpose of improving the ease with which customers are able to access and manage their insurance policies. One such service is the Electronic Commerce System, an online platform which allows customers to adjust their sum insured amount in an interactive manner and apply suitable life insurance products. Customers can also submit claims online anytime, anywhere.
BOCG Life has launched its e-Application, enabling Financial Planning Managers at around 260 branches in the BOCHK Group to submit new business applications electronically and instantly and therefore save document delivery time. This has resulted in a higher policy issue ratio (70%) than the industry benchmark (65%), according to BOCG Life.
Au was also keen to talk about the services tailored for Mainland travelers visiting Hong Kong. “Our products and services have been very popular among target customers, including those visitors from Mainland China who especially prefer hassle-free and one-stop service experience. Leveraging our strengths in technology and service network, BOCG Life has been a trusted brand providing a number of tailored solutions.”
To ease filing difficulties for Mainland and overseas customers, BOCG Life devised its 360° Comprehensive services for them. According to Au, “We realize the need for fast and efficient services for mainland Chinese and overseas customers. We offer mobile verification and medical check-up services, convenient payment options, and a top-tier list of 1,000 specified hospitals in China and Macau for in-patient claim services.”
For creating innovative and well-designed online service platforms for customers, BOCG Life received the Outstanding Achiever Award for Online Usability, and Au is optimistic about the further opportunities that BOCG Life can capitalize on. “Technology has made our life more convenient and efficient than ever before. This is the way our business is evolving too. With electronic and digital services, we are able to collect big data, empowering us to proactively analyze the behavior of customers and streamline our services to exceed their expectation. Our employees are becoming more tech-savvy with customers’ needs in mind.”
“With the increasing use of mobile technology in Hong Kong, BOCG Life has opened up different touch points, both online and offline, for customers to access our services round the clock. Our digital and offline services are performing shoulder-to-shoulder in equal importance. We always welcome customers to contact us in the way most comfortable and convenient to them, be it by phone, writing, email, online platform or even face to face.”
Technology has made our life more convenient and efficient than ever before. This is the way our business is evolving too.
Streamlining Customer Services
As is to be expected, BOCG Life’s success in quality service has resulted in superb customer experience which Au credits to a companywide focus on the entire application and approval process from beginning to end. “BOCG Life is dedicated to creating an onboarding experience at the highest standard. To do so, our service pledge is readily available on our corporate website. We also strive to create market first services, such as 4-hour express policy loan and release of maturity payment on exactly the policy maturity date against the industry’s average turnaround time of 7-14 days.”
“Life insurance is a highly customercentric industry, where internal procedures are often intertwined with customer touch points to shape their service experience. We find it extremely important for our employees to understand crucial operational concerns of their co-workers in other departments. For example, when staff learn more about the concerns in sales, underwriting and compliance, they can respond to customers and handle requests more efficiently. By having interdepartmental cooperation, we want to create a synergy and make the journey for new customers smoother and more flexible.”
Au also believes that staff play a key role in maintaining the high standard of services that BOCG Life has set for itself. “Our service ambassadors work closely with our distribution channels and are empowered to resolve complicated issues upfront. They reach out proactively to customers who require extra care and fulfill their needs on a one-stop basis. Our meticulous attention to customers’ requirements is the key to enhancing business efficiency and customer satisfaction.”
Looking to the future, Au looks forward to navigating the ever-shifting market landscape and securing a bright future for BOCG Life and its customers. “The regulatory regime in Hong Kong is evolving with an aim to better protect our customers. We believe that this is the right direction to benefit society as a whole and foster the healthy growth of the life insurance industry. BOCG Life has a very strong team and we are always vigilant in coping with the changes to better protect the rights of customers.” BM
中銀集團人壽為簡化中國內地及海外 客戶索償之繁瑣程序，特設360 度全方位服 務。歐之珊表示：「我們很理解中國內地 及海外客戶都希望享有快捷便利的服務。為 此，我們特設了流動認證及健康檢查服務、 便利的付款方式，並與位處內地及澳門的一 千家頂級醫院合作，為這些客戶提供住院理 賠服務。」