Asia-Pacific Power List 2023: Stuart A Spencer, AIA Group

As an astute marketer at an insurance heavyweight, the group CMO of AIA, Stuart A Spencer has carved a permanent position for himself in Campaign’s Power List since the first edition came out in 2018.  Not one to rest on past laurels, Spencer’s achievements earning him a spot each year are many. But chief among them is forging a digital transformation for the century-old AIA, helping it position itself as a leader in the ‘insurtech’ space, blitzing on platforms like TikTok and YouTube to generate more than 25 million new users on their website in the last two years. His current remit includes customer engagement, propositions, communications, sponsorships, branding, events, marketing digitalisation, and the wellness ecosystem for the world’s largest life insurer. With Spencer at the helm of group marketing, AIA has made rapid strides in enhancing brand awareness and expanding its reach in the region. He’s spearheaded numerous successful campaigns this year, including the launch of an ‘Integrated Health Strategy’ programme in August 2022 that aims to dole out accessible, affordable, and effective healthcare. Further, building on a 10-year association with Tottenham Hotspur striker and England captain Harry Kane, the group appointed him as the AIA Ambassador in January this year. Spencer is also credited with conceiving the ambitious AIA One Billion programme that aims to engage a billion-plus people to lead ‘Healthier, Longer, Better Lives’ by 2030.  This massive regional initiative rolled out to a total of 18 markets at the end of 2022 and engaged more than 258 million people, roughly meeting a fifth of the 2030 target. This pairs well with Spencer’s anchoring efforts behind AIA’s cutting-edge insurance and wellness program, AIA Vitality, which was launched in 2013 and rewards customers for taking control of their health. With over 1.5 million active Vitality members across 12 markets in Asia, Spencer has maneuvered the expansion of Vitality to India and Vietnam as well. Business-wise, Vitality has delivered more than $2.5 billion of VONB since 2018.   Besides rolling out these high-flying initiatives, Spencer guides local markets with their bespoke marketing strategies. Digital acceleration and social media integration are particularly important to him, and over the last 12 months his focus in these spheres has led to an impressive 3 million new customer leads. Spencer keeps marketing efforts buzzing not just with campaigns and slogans but also generates tangible business results for the company. His data-driven approach coupled with the company’s purpose-led strategy has contributed to strong results, with the value of new business increasing 6% in the second half of the year amounting to US$3,092 million for the full-year 2022. Even with his hands full with his day job, Spencer plays an active role in mentoring and coaching rising leaders at the company and is a strong supporter of representation and women in the workplace.

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