We want to encourage more AIA Vitality members to reach Silver Status within the first six months of membership. Our data demonstrates that when members meaningfully engage in the program, lapse and retention outcomes materially improve and members begin to gain tangible monetary rewards and benefits whilst improving overall health and wellbeing. As an insurer, we also observe an improved claims experience. The payments of $500 to the AIA Vitality member and adviser are designed to incentivise early engagement in the AIA Vitality program. The one-off $250 AIA Vitality activation payment, which was paid upon an AIA Priority Protection policy being issued, will be removed for new business on and from 1 April 2024, and replaced with our new $500 AIA Vitality Silver Status Reward payment. The $250 AIA Vitality activation payment will be paid for all policies issued prior to 1 April 2024. The $500 member payment on the achievement of Silver Status is an entirely new member reward. |