Digitally Connected: The growing popularity of remote insurance processes 

Remote process is the broad term we use to describe the end-to-end life protection onboarding services to clients. Using the latest and best available technology, we can do everything remotely, from consultation and in country medicals to documentation and contract signing. It’s important to note that customer privacy and regulatory compliance are prioritized in all circumstances.

Our digital journey began as the pandemic struck Southeast Asia in 2020. PCS by Mercer were amongst the first to implement remote procedures, offering clients access to Singapore and Bermuda insurance products from Singapore. Now, clients from 5 jurisdictions can continue to have access to those same insurance products as well as solutions from Hong Kong – without having to travel to Singapore and Hong Kong.

Remote procedures are evolving rapidly, and all parts of the industry are learning to embrace different ways of doing things. Insurers are more open to receiving e-signatures and documents electronically, as are private bank partners.

One of the key things the Operations Team is focusing on is improving the entire interface for our clients. We are currently one of the industry leaders in remote procedures, so we are learning as we go in some respects, but our commitment to customer experience means we are continuously improving at macro and micro levels. We want to be the best choice for our clients.

Our ambitious future goals are remote authentication, and integrated insurer’s data feeds where possible. Right now, we are busy building a great mobile application or “app”, so our customers have access to PCS by Mercer at their fingertips. We are conscious that the next generation of high-net-worth individuals are growing in number and significance. They have largely grown up in the digital world, so the app will provide real time updates on individual policies. Features and details will include, premiums and sum assured, annual review reminders, and direct consultant contacts, so our customers can plan ahead while staying fully informed.

While staying at the front and innovating, we are conscious our business operates across four jurisdictions, so the team always ensures we remain compliant with regulators.