Introduction

AYA SOMPO Insurance has rapidly emerged as a leader in Myanmar’s insurance industry, driven by its aggressive digital transformation strategy. In 2016, AYA SOMPO embarked on a comprehensive modernization journey, implementing Informatics International’s InfoIns Core Insurance System alongside a Document Management System (DMS) and a Broker/Agent Portal. This transformation has enabled AYA SOMPO to digitize and streamline its operations, making it the first insurer in Myanmar to adopt a fully digital platform. The integration of these systems and its aggressive marketing strategies has significantly enhanced customer service, operational efficiency, and market penetration, propelling AYA SOMPO to become one of the fastest-growing insurers in the country.

Challenges Before Implementation

Prior to adopting the InfoIns system, AYA SOMPO relied on Excel for managing its policies, claims, and other critical functions. This manual system limited their ability to scale and delayed customer service delivery. As AYA SOMPO sought to grow its market share and improve operational efficiency, it became clear that a robust, integrated system was essential.

Solution: InfoIns Core Insurance System, DMS, and Broker/Agent Portal

Informatics International provided AYA SOMPO with a comprehensive digital solution, including the InfoIns Core Insurance System, which offered end-to-end functionalities for underwriting, claims, finance, document management, and reporting. The addition of the Broker/Agent Portal further expanded AYA SOMPO’s market reach, while the DMS ensured seamless document management. This fully integrated platform supported AYA SOMPO’s mission to deliver high- quality, personalized services to its customers.

The Core Insurance System has been a significant enabler of AYA SOMPO’s success, providing the foundation for several of the awards the company has received in recent years.

Key Benefits of the InfoIns System:

• End-to-End Functionalities: Integrated features for quotations, underwriting, claims, finance, document management, and reporting, facilitating a seamless customer experience.
• Branch Connectivity: Enabled nationwide service through real-time data access across branches.
• Scalability: Supported the expansion of AYA SOMPO’s product range and services through multiple channels.
• Agent Web Portal: Improved customer engagement and service delivery through online access to policies and claim

Results Achieved

Since implementing the InfoIns system, AYA SOMPO has seen considerable improvements in operations and customer satisfaction:

• Gross Written Premium (GWP) Growth: AYA SOMPO’s GWP grew by an average of over 50% year on year from 2018 to 2024.
• Improved Policy and Claims Processing: Policy processing time reduced to 1 day, while claims processing time decreased to 27-36 days depending on claim size.
• Customer Satisfaction: AYA SOMPO has seen consistently high levels of customer satisfaction. For new business, 93% of customers expressed satisfaction with their experience, while 86% were satisfied with the renewal process. Additionally, 91% of customers reported a positive claims experience, with 89% expressing satisfaction through claim surveys, indicating a strong recommendation rate from customers who have interacted with these services.
• Operational Efficiency: AYA SOMPO has achieved significant improvements in operational efficiency, as indicated by lower operating costs per GWP over time, reflecting better resource utilization and streamlined processes.

Awards and Recognition

Thanks to the robust functionalities of the InfoIns Core Insurance System, AYA SOMPO has won several industry awards, including:

• Best Insurance Company for Digital Transformation (Myanmar, 2020)
• Technology Excellence Initiative of the Year (Insurance Asia Awards, 2023)
• Leadership in Digital Transformation (2021)

These accolades highlight AYA SOMPO’s leadership in leveraging technology for operational excellence and customer service improvements.

Informatics’ Core Insurance System Impact

Informatics’s InfoIns Core Insurance System has been instrumental in enabling AYA SOMPO to transform its business processes. The comprehensive modules we provided—covering quotations, underwriting, claims, accounting, finance, document management, and more— facilitated a seamless digital transformation for AYA SOMPO.

Our system’s ability to provide a single view of clients has empowered AYA SOMPO to quickly access information and its flexibility has helped develop new products faster, thereby expanding its product range. The platform has been a key enabler in AYA SOMPO’s enhanced customer service levels, enabling them to provide personalized service and quickly respond to market demands. Our collaboration has also supported AYA SOMPO in marketing new insurance products to their targeted client base in record time.

Conclusion

The implementation of Informatics International’s InfoIns Core Insurance System has been transformative for AYA SOMPO Insurance. By streamlining operations, enhancing customer service, and enabling faster market response, AYA SOMPO has positioned itself as a digital leader in Myanmar’s insurance industry. The reduced operational costs per policy, combined with improved processing times and customer satisfaction, reflect the significant efficiencies achieved through this partnership. As AYA SOMPO continues to grow and expand its product offerings, the robust capabilities of the InfoIns platform will remain integral to its strategy, ensuring continued innovation and leadership in the insurance sector.