Asia-Pacific Power List 2022: Stuart A Spencer, AIA

Stuart A Spencer

Group chief marketing officer
AIA
Hong Kong
Member since 2018

Returning to the Power List for the fifth consecutive year, Stuart A Spencer, marketing chief for the century-old AIA, is one of two CMOs from the insurance industry to make it to this listing. 

Spencer's remit is to oversee customer engagement, healthcare, and the wellness ecosystem for the world's largest life insurer. With Spencer at the helm of group marketing, the past year has seen the AIA brand strengthen and deliver tangible business impact. 

Notably, Spencer conceived and led the launch of AIA One Billion, a sweeping, regional ambition to engage a billion people to live healthier, longer, better lives by 2030. Launched across 18 markets in Asia in February 2022, phase one of the ongoing campaign has already generated 27 million social engagements and attained more than 600 pieces of earned-media coverage. 

Indeed, digital marketing is one of the key areas of focus within Spencer's portfolio. Even though Covid’s limited opportunities to acquire new customers, Spencer's teams responsible for engaging existing customers through digital marketing succeeded by delivering 31% growth in generating leads resulting in additional sales. 

Furthermore, Spencer has played a key role in elevating AIA's digital-first marketing strategy over the past 12 months. He has played a key role in expanding the integrated social media management platform, generated over two million new customer leads and close to US$280 million of Annualised New Premium. The Group is number one in the insurance industry in Asia across social channels for engagement and followers on YouTube, LinkedIn and Instagram. 

Outside his core responsibilities, Spencer plays an active role in mentoring and coaching rising leaders. In the past 12 months, he made three senior appointments who are female leaders at AIA. This includes the group head for sustainability (ESG), a new role that he conceived in 2020; the director of group communications, and the executive position to lead the mobilisation and establishment of Amplify Health, AIA’s new healthtech business. In March 2020, he also launched AIA’s inaugural ESG strategy outlining five strategic pillars for AIA to drive impact and help create a more sustainable future for Asia.

The execution of AIA’s purpose-led strategy contributed to very strong financial results for the group in 2021 as the value of new business increased 18% to over US$3 billion.