Comprehensive Business Review of AIA Insurance Company in Malaysia

This report provides a comprehensive business review of AIA Insurance Company in Malaysia, examining various aspects of its operations. The analysis includes a deep dive into AIA's marketing strategies, assessing its product offerings, pricing strategies, and value propositions. The report also explores the company's business strategies, operational aspects, and technology innovations, highlighting how AIA differentiates itself from competitors such as Great Eastern, Prudential, and Allianz. The marketing mix, including product offerings, is thoroughly examined, comparing AIA's approach to those of its rivals. The report references key academic sources to support its findings and offers insights into the competitive landscape of the Malaysian insurance market.

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Business Review of AIA Insurance Company in Malaysia
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1BUSINESS REVIEW OF AIA INSURANCE COMPANY IN MALAYSIA
2. Business Review
This section would comprise of a review over the business aspects that are being
performed at AIA Insurance Company situated in Malaysia. The different factors that would be
considered while reviewing the business strategies are marketing strategy, business strategy,
operational aspects and technology innovations made at the insurance companies. The business
review would be conducted by keeping a major focus on AIA Insurance while comparing the
factors with their competitors, which are Great Eastern, Prudential and Allianz.
2.1 Marketing Strategy
A marketing strategy is defined the overall planning over the ways in which the
marketing plan of the company would be devised. With the help of a proper devised marketing
strategy, the company would be able to decide the ways in which prospective customers could be
brought in within the business and their services could be offered accordingly (Ansari and Riasi
2016). The marketing strategy would comprise of the value proposition of the company, data on
targeted demographics of customers and key brand messaging while also considering on other
high-level elements.
2.1.1 Marketing Mix
2.1.1.1 Product
The AIG Company offers a diverse range of portfolio, which also offers a wide range of
price based on the products. Different decisions made on the pricing strategies are taken based on
considering various factors that include optimizing of social costs, prioritizing of profit
generating investments, cost effectiveness and assigning weightage to certain designed policies
based on maximizing of profits. During the development of pricing strategies, AIG considers the

2BUSINESS REVIEW OF AIA INSURANCE COMPANY IN MALAYSIA
rate of interest, expenses and cost of death rates that would be incurred over the insurance
business (French, Vital and Minot 2015). The company further focuses on bringing in business
transparency within their pricing strategies for their offered products. No hidden costs are being
levied over the customer.
Prudential UK is considered as one of the largest financial service provider company
located globally. The company offers efficient ways of tax savings and retirement solutions for
the future. The company offers a wide range of pension products that are primarily designed for
members and individuals based on a company pension scheme. Certain products offered by the
company are Prudential Retirement Account, Self-Invested Personal Pensions, Monetary
Purchase Plan, Flexible Retirement Account, Group Personal Pension and Additional Voluntary
Contributions (Stechemesser et al. 2015). The company also offers a wide range of investment
plans for their customers in order to meet with the long term and short term plans and also
become financially secure.
Allianz is regarded as the largest kind of financial institution located globally. The
insurance company offers different forms of products and services within their marketing mix
across the different categories. Some of the products included in the various categories are
private insurance, which includes old age provision, housing loans and on the road insurance.
Business insurance offered by the company includes credit insurance, large corporations,
medium and small-sized companies. The other form of global services includes automotive,
assistance, profile and health insurances (Velu 2015). Different other kind of sustainable
solutions includes investment, micro insurance and different other products.

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2.2 Business Strategy
2.3 Operational Aspect
2.4 Technology Innovation

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References
Ansari, A. and Riasi, A., 2016. Modelling and evaluating customer loyalty using neural
networks: Evidence from startup insurance companies. Future Business Journal, 2(1), pp.15-30.
French, A., Vital, M. and Minot, D., 2015. Insurance and financial stability. Bank of England
Quarterly Bulletin, p.Q3.
Stechemesser, K., Endrikat, J., Grasshoff, N. and Guenther, E., 2015. Insurance companies’
responses to climate change: Adaptation, dynamic capabilities and competitive advantage. The
Geneva Papers on Risk and Insurance-Issues and Practice, 40(4), pp.557-584.
Velu, C., 2015. Business model innovation and third-party alliance on the survival of new
firms. Technovation, 35, pp.1-11.