Author: Rachel Tan

[Case Study] AXA’s Business Model Transformation to Shift from “Payer to Partner”

AXA is one of the world’s largest insurers with 104 million clients worldwide in over 60 countries. As a well-established company with over 200 years of history, transformation has been fundamental to its continued relevance with its consumers. Let us highlight 4 key elements that have laid down the foundation for its business transformation success. 1.A Vertically-Integrated Innovation Ecosystem AXA recognises that there are multiple opportunities to discover new businesses that can enable AXA to innovate and stay ahead of the competition. Hence they have built up an end-to-end ecosystem that allows them to collaborate on new products and...

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How will New Retail impact Asia?

We had the opportunity to attend the “New Retail” Asia Forum from 16 – 17 January 2018. Focused on “customer-led omni-channel digital retail“, the event brought together 120 business leaders from different stakeholders in the retail environment with companies like P&G, Walmart, Tencent and Alibaba. CHECK OUT OUR 3 KEY TAKEAWAYS FROM THE EVENT: 1.NEW RETAIL DRIVES HIGHER EFFICIENCY & BETTER CUSTOMER EXPERIENCE Costs of customer acquisition has grown by 20 – 30 times more expensive today. Hence businesses are looking to leverage on technology to optimise their operations and manage rising costs. For Alibaba, it has used its DNA...

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[INFOGRAPHIC] How Will BATX’s Investments Impact Your Business in 2018?

Chinese tech giants have seen a blockbuster year of growth, acquisitions and investments. Commonly referred to as the BATX (Baidu, Alibaba, Tencent & Xiaomi), the growth boom has been mainly led by Tencent and Alibaba, who have grown to US$527.5 billion and US$475.6 billion in market capitalisation respectively. Tencent had even managed to briefly overtake Facebook in market capitalisation in November 2017, to become the world’s fifth-largest publicly traded company when it reached US$528 billion – which was just above Facebook’s US$522 billion in market capitalisation. Even Xiaomi, which saw plunging sales in 2016, has bounced back. It was fifth...

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Join us at the Asia “New Retail” Forum 2018 in Singapore from 16 – 17 January!

“New Retail” – coined by Alibaba founder Jack Ma – refers to the transformation of retail by using technology and data to redefine the customer experience through offline and online integration. The impact of this is expected to be especially significant in Asia Pacific. According to PwC, the region can expect an annual growth rate of 6-7% to raise the value of retail sales from US$8.5 trillion in 2016 to US$11.8 trillion by 2021! To benefit from this growth, it becomes ever important for retailers to embrace technological change to deliver better customer experiences, optimise operational efficiency and explore new...

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Mini-Programs: Tencent and Alibaba’s War for Consumers Stickiness

Ecosystem building is a central strategy in the success of the Chinese tech giants. Tencent has accelerated development into this space by launching Mini-programs to the public in January 2017 on its messaging app WeChat, quickly followed by Alibaba on mobile payment app Alipay. Originally called ‘app accounts’, they were renamed after Apple prevented WeChat from using the term ‘app’. Mini-programs function very much like apps on the Apple iOS and Google Android app stores. However, they are less data intensive – addressing painpoints such as the lack of phone storage space, and are found “on the go” and accessible...

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