A big achievement: The 4th AOA Members Study Group visit to NTUC Income

6 September 2019


Every other year the ICMIF Asia and Oceania Association (AOA) organizes a Members’ Study Group Visit, one of the Association’s most important events. This time for 2019, the AOA Study Group visited NTUC Income (hereinafter referred to as “Income”), a Singaporean member organization and it was the fourth Members’ Study Group Visit.

Excluding attendees from Income, the host organization, a total of 42 people from 15 organizations in five countries participated as shown in the table of “Organizations attended” on the AOA website. This number was the highest compared to the visits in the past. By country, the Philippines was the largest group with 22 people, followed by Japan with 13 people. In addition to managers and staff members, six CEOs (or equivalent position to CEO) from member organizations joined the visit.

At the AOA Seminar held in Hong Kong in early December last year, Juliana Chua, Head of Digital Transformation at Income spoke about the company-wide efforts for self-transformation in order to survive a world where digital transformation is dramatically changing everything about how products are designed, sold, delivered, and serviced.

Although the visit this time only gave a short one-and-a-half-day schedule, the AOA Secretariat felt that it was still a very significant opportunity for the participants because they could get a much deeper knowledge about Income after an initial impact they got from Juliana’s presentation in Hong Kong. During this visit participants could listen to the in-depth stories about Income’s efforts from the new CEO Andrew Yeo and Peter Tay, CDO (Chief Digital Officer). They were also able to feel the sincere initiatives and efforts on Income’s operational level through visiting each facility.

The results of the questionnaire completed by participants after the event showed that the levels of satisfaction were very high, and the responses supported the beliefs about the great value of the visit held by AOA. Respondents said that there were very impressive points about Income’s management philosophy, such as its thorough, customer-oriented practices as well as the organization’s strong focus on human resource development and measures to improve employees’ motivation, in addition to the company’s advanced digital transformation initiatives.

Many participants also expressed their sincere gratitude to Income for accommodating such a large group of participants perfectly and smoothly. They are also grateful for the opportunity to exchange opinions and chat at the dinner party attended by many Income executives including Andrew Yeo, CEO.

Through the planning of valuable events such as this Study Visit, which are a direct response to the interests and needs of member organizations, the AOA says it will continue to offer opportunities for networking and discussion in order to solve common problems among the members. The AOA will continue to aim to promote the cooperative and mutual insurance movement in Asia and Oceania while promoting friendship and greater opportunities for interchanges among the regional network of members.

This news is reproduced with the kind permission of the AOA Secretariat. To read more about the Study Visit, to see details of member organisations which took part and to see the photo album of the visit please read the full article by the AOA here.

The 2019 ICMIF Biennial Conference will be hosted by AOA member FMG (New Zealand). The Biennial Conference takes place from 12-15 November in Auckland. The main Conference will be preceded by a one-day Microinsurance Seminar on Monday 11 November which is being jointly hosted by ICMIF and the AOA. The theme of the Seminar will be: “Connecting to emerging markets: benefits and opportunities for ICMIF members”.

Full information on the ICMIF Asia and Oceania Association can be found here.

Full information on the ICMIF Biennial Conference can be found here.

Full information on the ICMIF/AOA Microinsurance Seminar can be found here.

For member-only strategic content on the cooperative/mutual insurance sector, ICMIF members have exclusive access to a range of online resources through the ICMIF Knowledge Hub.

Scroll to Top