AgeSA and Akbank align to offer seamless digital customer experience
Increasing market share in Credit Life market
AgeSA enjoys a strong relationship with business partner Akbank, one of the top 5 banks in Türkiye and their strategic objectives are clearly aligned. And both entities share the strategic ambition to be the distinct market leader in the Pensions and Life business.
Akbank customers applying for a consumer loan from Akbank Mobile and through Customer Communication Centre channels, already enjoy end-to-end digital processes for Credit Life insurance. But in 2023, several new initiatives were taken to strengthen market position and enhance the customer experience. A new project aimed at sole proprietors was launched enabling customers to easily obtain Credit Life insurance when applying for a commercial loan in the same way that retail customers already do. In parallel credit insurance was also integrated into retail automobile loans. In addition, an optional Critical Illness rider has been made available for Credit Life insurance via Mobile and Customer Contact Centre channels. Through these various initiatives customers are enjoying more digital and seamless processes and more solutions than ever before.
This strong collaboration with Akbank, has resulted in a significant increase in AgeSA’s market share of the credit life market, up from 8% to 11.3% year on year.
Growing in Pensions with a clear focus
As the market leader among private companies in the pensions market, AgeSA and Akbank have been focused on expanding the customer base in 2023. Digital and analytical capabilities have been leveraged including a My Insurance Menu within the Akbank Mobile app, allowing bank customers to submit their AgeSA pension and personal accident insurance product requests online.
Processes designed to simplify the sales process have also been introduced with customers able to approve their private pension applications on Akbank Mobile with a single click. With 90% of AgeSA’s private pension sales being completed digitally at Akbank branches, AgeSA has been actively supporting the bank’s digital development journey. And at the same time private pension sales are also possible through Akbank Mobile.
