Insurer AIA rewards clients and advisers with $500 payment
PRESS RELEASE
12 April 2024
3 mins read
3 mins read
Melbourne, 12 April 2024 – Leading life, health and wellbeing insurer AIA Australia has introduced a new reward incentive to encourage deeper engagement of its science-backed health and wellbeing program, AIA Vitality.
In response to the widening insurance coverage gap and persistent cost of living pressures, AIA has created an initiative that will return value generated from engaging in the AIA Vitality program.
From 1 April 2024, when a new AIA Priority Protection insured activates their AIA Vitality membership and reaches Silver Status (10,000 AIA Vitality Points) within six months of the policy commencing*, AIA will pay:
- $500* to the AIA Vitality member’s bank account nominated in the AIA Vitality app six months after policy commencement; and
- $500* to the servicing financial adviser’s licensee, paid in the commission run proceeding Silver Status being achieved by the member.
AIA data demonstrates that when members engage meaningfully in the AIA Vitality program, members begin to gain tangible monetary rewards and benefits whilst improving overall health and wellbeing. As an insurer, AIA also observes an improved claims experience.
It is the first time the insurer is offering a $500 reward payment when members reach Silver Status within 6 months of their membership commencing.
Sam Tremethick, Chief Retail & Partnerships Officer of AIA Australia, said:
“As AIA Vitality celebrates its 10th anniversary this year, we are enhancing the benefits. We know that members who engage with it see benefits on their physical and mental health. Not only this, but it’s designed to help you know your health, make healthy choices, and reward you for it,” Tremethick said.
“With the AIA Vitality Silver Status Reward, we’re excited to bring to both members and advisers an initiative that will encourage members to engage early with the program and that will put money back in their pockets at a time when cost of living is hitting Australian households and small businesses.”
Members who engage with the AIA Vitality program can reduce their insurance premium by being active and making healthy choices, and receive up to $500 each year in shopping rewards, partner discounts as well as cash back on eligible domestic and international flights.
To support advisers with the incentive, AIA will provide dedicated resources to support a client’s progress towards achieving Silver status and can work with clients directly to assist with onboarding.
For more information, visit the AIA website.
About AIA Vitality
AIA Vitality is a personalised, science-backed health and wellbeing program that supports you every day to make healthier lifestyle choices. AIA Vitality is available to all AIA Health and Life Insurance customers, and incentivises members to move more, eat well and complete regular health checks, and this year celebrates its ten-year anniversary.
About AIA Australia
AIA Australia is a leading life insurance specialist with 50 years’ experience and purpose to make a difference in people’s lives. In 2014 the company launched AIA Vitality, a world leading, science-based health and wellbeing program, to the Australian market. In July 2017, AIA and its partners launched AIA’s health insurance business, now known as AIA Health Insurance.
In 2021, CommInsure Life was integrated into AIA Australia. The lives of more than 5.7 million Australians are protected and enhanced through AIA Australia’s unique value proposition of life, health and wellbeing. Our vision is to embrace shared value in championing Australia to be the healthiest and best protected nation in the world.
In pursuit of this, AIA Australia has developed AIA Embrace- a comprehensive wellbeing ecosystem of world-class products, programs and partnerships. These are designed to help customers, partners and the broader community to embrace better health and wellbeing.
In offering a broad range of health and wellbeing services to its customers, partners and broader community, AIA is proudly helping people lead healthier, longer, better lives.
AIA Australia has been recognised with multiple awards, including the ANZIIF Life Insurance Company of the Year (2023, 2022), Women in Finance Employer of the Year Award (2018, 2019), Super Review’s Best Insurer of the Year (2018, 2019), FSC Life Insurance Industry Awards Innovation in Group Life Insurance (2021), Shared Value Awards Organisation of the Year (2020) and Shared Value Project of the Year (2021).
Further information at www.aia.com.au.
* Subject to Terms and Conditions. Different qualifying criteria for other member scenarios also apply. Please refer to the Member Terms and Conditions and Adviser Terms and Conditions for full details of the qualification and eligibility rules relating to this offer.
Copyright © 2024 AIA Australia Limited (ABN 79 004 837 861 AFSL 230043). This is general information only, without taking into account factors like the objectives, financial situation, needs or personal circumstances of any individual and is not intended to be financial, legal, tax, medical, nutritional, health, fitness or other advice. The source information is current as at 12 April 2024 and may be subject to change. While the information contained herein is believed to be accurate, AIA Australia expressly disclaims any and all liability for representations or warranties, expressed or implied, contained in, or for omissions from, the information.
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