Cathay Vision Experience (CVX) from Cathay Life Insurance honored at the 2021 International Innovation Awards



SINGAPORE, December 30, 2021 / PRNewswire / – Company Asia is pleased to honor 52 winners at the 2021 International Innovation Awards. Spearheading the innovation revolution, the International Innovation Awards, which aim to create an innovation ecosystem for companies, are organized each year to reward exceptional innovations around the world.

The award attracted an exceptional mix of entries from various sectors and countries. 52 won out of 260 entries by undergoing a rigorous evaluation process by a jury composed of eminent judges in three categories: product, service and solution and organization and culture.

Cathay Life Insurance award-winning innovation

Cathay Life Insurance was recognized for its revolutionary innovation, Cathay Vision Experience (CVX), in the Service & Solution category.

Cathay Life Insurance has been established for almost 60 years with 360 service points in Taiwan. The COVID-19 pandemic was the turning point that led from Taiwan Financial Supervisory Commission to promote relaxation of the law according to which the customer experience can be transformed into insurance from a distance.

Cathay Vision Experience, known as CVX, is the first distance insurance company licensed in Taiwan. It combines video and online signature techniques linked to Cathay Life applications to build a single, easy-to-use and secure platform. Customers can use the Internet access on their cell phones to meet their agents online and complete all kinds of insurance requirements. In addition, CVX relies on strict information security and records every online service process to protect the security of transactions.

CVX is the first distance insurance approved in Taiwan. Its particularity is an all-inclusive remote insurance service comprising the purchase of insurance, a personalized policy, a change of policy, a request for payment and an insurance claim. It combines video and online signature techniques linked to Cathay Life applications to establish immediate links between Cathay Life insurance, agents and clients. The app allows customers to see the progress of the app, check the protection gap, and meet insurance requirements. CVX relies on strict information security in which all electronic documents are signed with non-tampering and encrypted transmission to the central system.

Since the launch of CLC, over 80% of agents have provided customer service on CLC, and a survey found that over 90% of customers are satisfied with its prompt and immediate service. With the trend of remote insurance, Cathay Life agents are well equipped with the knowledge to provide professional and convenient service anywhere and anytime.

Media contact

Mrs Nerissa ng
Business Asia
(60) 3 7803 0312
[email protected]

About Enterprise Asia

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

About the International Innovation Awards

The International Innovation Awards are an annual regional recognition program that recognizes outstanding innovations and, in doing so, encourages organizations to continue investing in innovations. For more information, visit www.innovationaward.org.

SOURCE Company Asia


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