Shared Value

Shared Value is an evolution of CSR and ESG, focused on creating measurable economic benefits by identifying and addressing social problems that intersect with our business. This means that our business activities have both a social and a financial impact to our environment. 

The Shared Value Project

We’re really proud of the fact that we’re a founding member of the Shared Value Project and a true believer in the philosophy of Shared Value. The Shared Value Project is a regional community of practice committed to driving adoption and implementation of shared value strategies among leaders and companies, civil society, and government organisations in Australia.

Our organisation has built its success around strong partnerships with a number of financial services organisations, such as Industry super funds and financial advisers, and our strong view is that for a partnership to be successful Shared Value plays an integral part.

As a life insurer we’ve looked at ways we can proactively improve the lives of people who suffer or are at risk of suffering these problems, while also improving our competitiveness as a business.

Two primary examples of areas where we’ve been active in shared value innovation are the social issues of mental health and obesity.

AIA Vitality

We want to help all Australians develop health aspirations and achieve healthier lifestyles. There’s no better feeling in life than being healthy. That’s why we offer AIA Vitality – an award-winning health and wellness program that helps our members get healthier by giving you the knowledge, tools and motivation to improve their health.

Millions of people around the world are already living healthier, more fulfilling lives with the AIA Vitality program.

AIA Rehabilitation

When we talk about rehab we’re talking about rehabilitation for Claimants and supporting people in their journey back into the workplace and society after serious illness or injury.

We’ve been active in the worker rehabilitation space for a long time, particularly in regards to mental illness, which is estimated to cost our industry over $150 million dollars a year in claims, and which currently affects around 1 in 5 Australians every year.

Our research shows that work is actually good for your health – we recognise the part that work plays in giving an individual confidence and purpose so we help employees in providing a smoother return to work journey.

We know that over 88 million days are lost to the Australia economy due to absenteeism, at a cost of $27.5 billion per annum in sick leave costs and lost productivity which is not only a cost to society but also to us as an insurer.