AIA is the first insurer in Singapore to provide customers with enhanced government-supported user verification capabilities - "Sign with SingPass" feature - through partnering with GovTech and Kofax to strengthen cybersecurity processes, as digital transactions are set to accelerate
Singapore – December 15, 2020 – Kofax®, a leading supplier of Intelligent Automation software for digital workflow transformation, today announces it has integrated its Kofax SignDoc®, its digital signing solution, with the recent Sign with SingPass feature developed by Singapore's Government Technology Agency (GovTech). AIA, the leading insurance company in Singapore and a long-standing customer of Kofax, is one of the first companies to participate in the pilot project with GovTech. Immense potential value is expected to be drawn from the integration efforts benefiting all participating stakeholders, supporting the growth and development of organisational digital transformation strategies from end-to-end. Sign with SingPass is a service that's part of the National Digital Identity (NDI) Smart Nation strategic national project which aims to build a trusted digital identity ecosystem for citizens, public agencies and private sector companies.
"In today's digital economy, we see the need for more flexible and secure solutions that can benefit everyone – from enterprises to individuals," says Kwok Quek Sin, Senior Director of National Digital Identity at GovTech. "Sign with SingPass, the latest product under the National Digital Identity (NDI) initiative, enables SingPass users to digitally sign documents with SingPass Mobile. Businesses can also run their operations smarter and faster, enabled by added security and less reliance on physical paperwork. We're delighted to work with Kofax to bring Sign with SingPass to AIA customers, and are looking forward to onboarding more companies into the NDI ecosystem."
Kofax SignDoc's integration with SingPass Sign enables remote digital document signing and verification to be carried out securely and in a more user-friendly manner for customers.
AIA Singapore is the first insurer in the country to join this initiative, integrating Sign with SingPass in its distribution platform to enable customers to remotely authenticate and digitally sign new business applications starting December 2.
A longstanding partner, AIA has been working with Kofax since 2012 to deploy e-signature capabilities for its customers across the region. The integration of Sign with SingPass will further boost remote authentication and enhance digital signing capabilities with biometric technology and support AIA in accelerating their digital strategy.
"Integrating our digital platforms with GovTech's SingPass Sign and Kofax's SignDoc advances our ability to provide fast and even more convenient customer experiences without compromising their data security, which is essential in an increasingly digital world," says Melita Teo, Chief Customer and Digital Officer at AIA Singapore. "As virtual interactions become the new norm, cybersecurity will form a core tenet of AIA's ongoing digitalisation strategy. Partnering with GovTech and automation software players such as Kofax is part of our long-term strategy to make the customer experience more seamless and secure."
Kofax's market-leading portfolio of Intelligent Automation solutions automate high-value workflows requiring document intelligence, process orchestration and integration with enterprise solutions – resulting in greater efficiency and ROI. To automate and optimize e-signing workflows, organizations need to be able to capture, process and orchestrate data from contracts, forms, images or digital assets – turning that information into actionable data for further processing.
Kofax SignDoc makes it easy to:
- Digitize signing processes end-to-end: Simplify and expedite signing processes and go completely paperless by replacing wet-ink signing with e-signatures.
- Transform the customer experience: Engage customers by enabling them to use the communications channel of their choice to e-sign on any device—anytime, anywhere.
- Reduce operational costs: Decrease manual processing steps and paper-related costs such as routing and storage by switching to digital signatures.
"We're pleased to be part of this partnership with GovTech," says Zakir Ahmed, Senior Vice President and General Manager, Asia Pacific and Japan at Kofax. "It enables us to support our Singapore customers by providing a more secure and convenient digital signing process. We applaud GovTech for initiating the NDI as Singapore works towards achieving the goal of becoming a Smart Nation, digitally transforming the public and private sectors through innovation to guide citizens towards a digitally enabled life. In addition, we're pleased to be working with AIA who shares our views on the importance of enabling business continuity in a secured and safe manner. We're always looking for new ways to help our customers increase their productivity, efficiency and growth especially in this challenging economic environment and these uncertain times."
AIA has been successfully using Kofax's SignDoc since 2012, supporting the insurance application process in 11 countries across Asia. Through Kofax's integration with Sign with SingPass, AIA is able to seamlessly roll out e-signature support to their users.
Kofax enables organizations to Work Like Tomorrow™—today. Kofax's Intelligent Automation software platform and solutions digitally transform document intensive workflows. Customers realize greater agility and resiliency by combining our process orchestration, cognitive capture, RPA, output management, analytics and mobile capabilities to speed time-to-value and increase competitiveness, growth and profitability while mitigating compliance risk. For more information, visit kofax.com
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets in Asia-Pacific – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR1, Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei, Macau SAR2, New Zealand, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in the Asia-Pacific region (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$291 billion as of 30 June 2020.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia-Pacific, AIA serves the holders of more than 36 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code "1299" with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: "AAGIY").