Enterprise Asia: Cathay Life Insurance's Cathay Vision Experience (CVX) Honored at the International Innovation Awards 2021

SINGAPORE,Dec. 30,2021 -- Enterprise Asia is pleased to honor 52 award recipients at the International Innovation Awards 2021. Spearheading the Innovation Revolution,the International Innovation Awards which aims to create an innovation ecosystem for enterprises is held annually to recognize outstanding innovations across the globe.

The award drew an exceptional mix of submissions from various industries and countries. 52 emerged as victors from the 260 applications through undergoing a rigorous evaluation process by a jury of prominent judges across three categories: Product,Service & Solution and Organization & Culture.

Cathay Life Insurance's Award-Winning Innovation

Cathay Life Insurance was awarded for its groundbreaking innovation,Cathay Vision Experience (CVX),under the Service & Solution Category.

Cathay Life Insurance has been established for nearly 60 years with 360 service locations in Taiwan. The COVID-19 pandemic was the turning point that led Taiwan's Financial Supervisory Commission to promote the relaxation of law that customer experience can be transformed into remote insurance.

Cathay Vision Experience,known as CVX,is the first remote insurance business approved in Taiwan. It combines video and online signature techniques linked with Cathay Life Apps to set up a unique,easy-to-use,and safe platform. Customers can use internet access on their mobile phones to meet their agents online and complete all kinds of insurance requirements. Moreover,CVX is built on strict information security and records each process of online service to protect transaction safety.

CVX is the first remote insurance approved in Taiwan. Its distinguishing feature is an all-inclusive remote insurance service including purchasing insurance,personalised policy,change of policy,payment application,and insurance claim.It combines video and online signature techniques linked with Cathay Life Apps to make immediate connections between Cathay Life insurance,agents and clients. The App enables clients to see the progress of the application,check the protection gap,and deal with insurance requirements.CVX is built on strict information security in which all electronic documents are signed with non-tampering and encrypted transmission to the core system.

Since the launch of CVX,over 80% of agents have provided client services on CVX,and a survey found that over 90% of customers are satisfied with its time-saving and immediate service. With the trend of remote Insurance,Cathay Life's agents are well equipped with the knowledge to provide professional and convenient service anywhere and anytime.

Media Contact

Ms Nerissa Ng

Enterprise Asia

(60) 3 7803 0312

marketing@enterpriseasia.org

About Enterprise Asia

Enterprise Asia is Asia's leading non-governmental organization for entrepreneurship. It's 4 pillars are entrepreneurship,innovation,sustainability,and growth. Established in 2006,Enterprise Asia has over 8,000 alumni and members and across 18 countries. For more information,visit www.enterpriseasia.org.

About the International Innovation Awards

The International Innovation Awards is an annual regional recognition program that recognizes outstanding innovations,and in the process,encouraging organizations to continue investing in innovations. For more information,visit www.innovationaward.org.