A number of global life
insurers including Prudential Plc, ING, Aegon and MassMutual have
turned their backs on Taiwan’s tough and very mature life insurance
market in recent years.
Taking a very different view
on the industry’s future, Asia’s third-largest insurer AIA Group
has announced plans to invest TWD3bn ($100m) in expansion and
modernisation of its Taiwan unit AIA Taiwan.
One focus of the capital
expenditure will be the establishment of a series of iCenters which
will deploy technology systems in areas such as policy processing
and sales and account management.
According to Taiwanese media,
AIA Taiwan will also increase the number of telemarketing staff
from 270 to up to 400 and appoint up to 3,000 sales
Telemarketing, according to the media reports, accounts
for about 80% of AIA Taiwan’s sales and bancassurance – the bulk of