HKUST Business Review

47 HKUST Business Review “I am a big supporter for diversity in gender, age, and nationality, and for offering opportunities to those reaching retirement age to contribute as mentors, advisers, or consultants on a full- or part-time basis,” she says of her continuing efforts. “Our policy is to be entirely flexible and to help people at different stages of life or with family responsibilities. In that way, we can retain talent and, with a stable team, ensure high-quality performance and service.” Going Digital As a direct result of this approach, the firm is well known for having very low staff turnover and has no trouble in attracting both seasoned professionals and young graduates when necessary. The latter group is particularly important since the launch six years ago of Avo Insurance Co, which has a digital license to target the fast-expanding market segment of tech-savvy, next-generation customers by offering B2C policies online. The business is achieving high annual growth, more than matching the rate of Asia Insurance Company, which itself has increased by around 400% – through organic means rather than acquisition – in the nine years since Wong took the helm. “Innovation was introduced as a new value for the company,” she says. “We must always be ready to meet new expectations and build a diversified ecosystem. So, each year we brainstorm innovative ideas, identify white-space opportunities, and tap into new markets.” The goal, of course, is not simply to win a bigger share of the existing pie, but to better serve those underserved segments and come up with groundbreaking types of protection. Identifying New Opportunities For instance, there is a clear need in Hong Kong to devise better health insurance products for the elderly for whom treatment at private hospitals is often unaffordable. And as the headquarters for the region, it is vital to give a lead in terms of digital transformation and well considered adoption of AI. “Some previous bosses viewed my leadership style as too soft, but I make tough decisions when I have to and aim to be fair with colleagues at all levels,” Wong says. “They get support, guidance, coaching, exposure and career progression opportunities. I’ve found that if people enjoy working with you, they will stay and be ready to contribute more than 100%.” Strengthening bonds with university leaders and fellow school graduates at alumni reunion. Sharing insights at an industry dialogue organized by the School to foster academia–industry collaboration.