Media Release | 10 Feb 2012
Great Eastern Enhances Value Proposition For Its Customers With Industry-first Integrated Live Great Programme Centred on Health and Wellness
SINGAPORE, 10 February 2012 - Great Eastern declares that it is "no longer just a life insurance company, it is a LIFE company". It is changing the way it looks at life insurance, and will actively help and reward customers to live better, healthier and longer through an industry-first integrated Live Great programme, aimed at turning their intentions into actions. Chris Wei, Group CEO, Great Eastern Holdings, unveiled details at a press conference this afternoon attended by local and regional media.
Commented Mr Wei, "While other insurance companies focus on offering financial protection, at Great Eastern, we are going beyond the traditional role of an insurance company. We believe that while insurance is important, it can never replace what matters most to your family... which is you. We want to enhance our value proposition for our customers and provide even more benefits and superior value for them. Our customer research showed that a common concern was health and wellness issues, in particular, the cost of medical care in the event of serious illness or accident. That is why Great Eastern is launching our Live Great programme. We want to actively support our customers in their efforts to live better in their daily lives and we will reward them for living healthier. Not only will they enjoy exclusive privileges through our Live Great loyalty programme, we are also actively looking into lowering health insurance premiums for customers who succeed in their efforts.
"We do not just want to be there when things go wrong, which is when life is not great. We want to help our customers live longer and healthier lives, so that they can experience those special, life-defining moments that are truly great, from seeing one's child graduate from university, or holding one's grandchild for the first time. What we offer in our new customer proposition under our Live Great Programme is compelling and will differentiate us from the industry."
To help customers in their Live Great journey, Great Eastern will be providing comprehensive information and advice through its Health and Wellness portal, equipping them with tools to turn their intentions of leading a healthier life into action as well as rewarding them for leading a healthier life.
The Great Eastern Health and Wellness portal contains a wide range of information and tips on health and wellness, from how to prevent heart diseases to parenting advice, from healthy recipes to innovative ways to de-stress. The portal also lists relevant health and wellness products and services which customers can purchase at exclusive discounted rates as members of the Live Great loyalty programme.
Customers can make use of online tools such as Great Eastern's Wellness Profiling, to conduct a simple health risk assessment to determine how they fare in terms of lifestyle and what actions to take to live better. They can also download Great Eastern's 21 Days App to help them create a new good habit over a 21-day period. The mobile App will remind them to act upon their intention on a daily basis and also help track their progress. For example, individuals who want to eat healthier can set three alarms a day to ring before every meal to remind them to do so.
Great Eastern will further incentivise customers by rewarding them with exclusive access to Health and Wellness benefits and privileges at more than 500 partner establishments across Southeast Asia under its Live Great regional customer loyalty programme, the first of its kind.
To engage customers who are more digitally-savvy, Great Eastern has unleashed new digital capabilities, including leveraging social media platforms such as Facebook, YouTube and Twitter. Mr Wei said, "We may be 103 years in the industry, but we are constantly evolving to meet emerging markets and consumer trends, and responding to their needs, including the manner in which they prefer to be engaged."
Great Eastern will also be rolling out its new "There Will Never Be Another You" consumer campaign where the key message is "each individual is unique and irreplaceable. In addition to a commercial on TV and throughout the web, there will also be a large scale print and online advertising campaign from mid February 2012 in Singapore and Malaysia.
Commented Mr Wei, "This is a game changer for Great Eastern and we are setting ourselves new standards in customer engagement and service. We're not just a life insurance company anymore. We're a LIFE company."
About Great Eastern
Great Eastern is the oldest and most established life insurance group in Singapore and Malaysia.
With $53.4 billion in assets and 3.8 million policyholders, it has two successful distribution channels -
the tied agency force and bancassurance. The Company also operates in China, Indonesia, Vietnam
and Brunei. Great Eastern Life Assurance Company Limited has been assigned the financial strength
and counterparty credit ratings of 'AA-' by Standard & Poor's, which is one of the highest among
Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors
Limited, is one of the largest private sector asset management companies in Southeast Asia.
Great Eastern is a subsidiary of OCBC Bank, the second largest financial services group in Southeast
Asia by assets. It is one of the world's most highly-rated banks, with a long term credit rating of Aa1
from Moody's. OCBC Bank's key markets are Singapore, Malaysia, Indonesia and Greater China. It
has a network of over 500 branches and representative offices in 15 countries and territories,
including more than 400 branches and offices in Indonesia operated by its subsidiary, Bank OCBC
For more information, please contact:
Tan Seck Geok
Head, Group Corporate Communications
Tel: + (65) 6248 2215