Aviva has launched a digital hub in Singapore to enable its teams to develop and test insurance ideas and services that 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.
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 encourage fresh thinking.
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 has already established a similar digital hub in London and will share expertise and insights into digital insurance gained in the UK with the new digital centre in Singapore.
Mark Wilson, group CEO of Aviva, said: "Aviva puts digital first because that’s how our customers want to deal with us.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
"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."
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."
Aviva provides life insurance, general insurance, health insurance and asset management to 34m customers, across 16 markets worldwide. This figure is before the deduction of Aviva and Friends Life overlapping customers.