Damien Mu, Chief Executive Officer of AIA Australia and New Zealand, kicked off the Group Insurance Summit by reflecting on how far the industry has come in the last seven years.
“Group Insurance just wasn’t getting the airplay it needed,” he said, with earlier discussions focusing solely on product definitions and pricing, whereas this year’s agenda is about restoring health and how we’re supporting Australian’s in their time of need.
Mu said it’s about providing the right support and assistance, not just paying out claims and closing them. On the proposed changes to low balance and inactive superannuation accounts and for under 25s, he urged the audience to not become complacent, now is the time to stand up for our members, to continue to raise any concerns and keep the lines of communication with government open.
He wrapped up his opening statement by reminding everyone of the importance of both the big things, like advocating for change, and the little things, the things we can do for each other at work and in our personal lives – both of which are equally important.
Mu said he believes the future of group insurance is safe, however, “we mustn’t forget we have the privilege and opportunity to make change.”
To read more about the Summit, click one of the links below.