1．Dates
Wednesday 31 July and Thursday 1 August 2019
2．Place
Singapore
3．Host & member to visit
NTUC Income Insurance Co-operative Limited
NTUC Income (“Income”) is a domestic life and general insurance company based in Singapore, established in 1970 by Singapore’s National Trades Union Congress with an initial capital of US$0.9 million to provide affordable insurance for workers in Singapore. Income sets out to be a thriving social enterprise that offers financial security to the people of Singapore via a wide range of insurance offerings and at the same time, create and deliver long-term positive social impact in the community that they serve. Income is now the leading composite insurer serving over two million customers and with assets of over US$26.5 billion as at end 2017.
Income has gone through a series of organizational changes over the past 10 years.
Through a 1,500 day long “The Cultural Revolution” launched in 2007, Income created a culture of greater ownership, dynamism and taken a more professional approach to running the business. By end of 2009, NTUC Income began to see the results of the Cultural Revolution. Besides the unveiling of a new set of brand values, the company posted business results that were unprecedented in its over 40 years’ history.
In the midst of the global financial crisis in 2011, the company recognized the need of a new customer-centric proposition and to address the adverse reputation of the insurance industry. “The Orange Revolution” was launched in October 2011, with the objective of changing the insurance industry by taking the lead in redefining how insurance is bought and sold in the best interest of a customer.
The local market is seeing disruption playing out in many areas and over recent years, disruptors grow much faster than incumbents can change. Disruption is exponential and incumbents can do everything right and “still lose” without an organic end-to-end transformation. With that as a backdrop, Income has developed a digital strategy to fend off possible disruptions through a series of digitisation efforts.
The purpose of this visit is to understand Income’s journey of organizational change and some of the initiatives developed to support its strategy.
4．Contents of visit
- Presentation about “Organization Change and Digital Innovation” of NTUC Income
- Visits to the following places:
- One of the branches
- Contact Center
- Orange Force
- Motor Service Center
- Digital Transformation Office
5. Agenda
| Day 1 – 31 July 2019 | ||
| Time | Programme | Venue |
| 09:30 | Gather in the hotel lobby | Rendezvous Hotel 9 Bras Basah Road |
| 09:30 – 10:00 | Transfer to Income Centre | |
| 10:00 – 11:00 | Organisation Change and Digital Innovation | Income Centre 75 Bras Basah Road |
| 11:00 – 11:30 | Branch Visit | |
| 11:30 – 12:00 | Transfer to lunch venue | |
| 12:00 – 13:30 | Lunch | To be confirmed |
| 13:30 – 14:00 | Transfer to Income @ Tampines Point | |
| 14:00 – 15:00 | Visit to Contact Centre | Income @ Tampines Point |
| 15:00 – 16:00 | Visit to Orange Force | |
| 16:00 – 16:30 | Transfer to Motor Service Centre | |
| 16:30 – 17:30 | Visit to Motor Service Centre | 81 Ubi Ave 4 |
| 17:30 – 18:00 | Transfer to dinner venue | |
| 18:00 onwards | Dinner | To be confirmed |
| Day 2 – 1 August 2019 | ||
| Time | Programme | Venue |
| 10:00 | Gather in the hotel lobby | Rendezvous Hotel 9 Bras Basah Road |
| 10:00 – 10:30 | Transfer to Digital Transformation Office | |
| 10:30 – 11:30 | Visit to Digital Transformation Office | 48 Peck Seah Street |
| 11:30 – 12:00 | Transfer to lunch venue | |
| 12:00 onwards | Lunch and Free & Easy | To be confirmed |
6．Registration
Please submit the registration form that was sent by the AOA Secretariat separately.
7．Entry visa
If a participant is required an entry visa to Singapore, please let us know in the registration form that you need a visa support letter.
8．Inquiries
If you have inquiries, please feel free to contact the AOA Secretariat (secretariat@icmifasiaoceania.coop).
