Claims analysis yields interesting results

More than 65% of death claims paid by AIA Australia are caused by one of four diseases – cancer, respiratory disease, diabetes or cardiovascular disease, all of which can be influenced by lifestyle choices like exercise and nutrition.

From our recently completed analysis of group insurance claims paid in the past three years, here are some of the learnings about death claims:

Cancer remains the most prevalent cause of death, accounting for more than one in three (38%) of all death claims. Of those top five cancer claims include lung, blood, colon, breast, and brain and spine cancer.
The key causes of death among female claimants were cancer or various cardiac and circulatory conditions. These reflect six out of every ten claims (59%).
The analysis highlighted differences in the causes of death of the Australian population compared to those insured by AIA Australia –Almost eight in ten (75%) of all working age population deaths in Australia were those aged 45 – 65 years, compared with two in three (61%) of death claims paid by AIA, largely reflecting lower levels of insurance coverage at older ages.
Accidents, poisoning and injury, including self-harm, account for almost one in two death claims (50%) for those aged under 35.
Male claimants are more likely to die from accidents, poisoning or injury, including self-harm – reinforcing commonly held stereotypes.
Not surprisingly, accidents, poisoning and injury accounted for more claims for heavy blue or hazardous members compared to white collar and professionals, accounting for almost one in four (24%) of all claims.
Claimants are more likely to live in outer metropolitan suburbs, with Caboolture, Yatala and Murrumba Downs in Queensland being the national hotspots for AIA.

Our analysis of disability claims also noted major differences in life insurance claims when compared with workers compensation claims, in particular, the protection that life insurance disability claims provides to older Australians compared to workers compensation.

For more information or to arrange a time to walk through this analysis in more detail contact your Strategic Partnership Manager or Client Development Manager.

Tom Gordon

Technical Partnership Manager

Group Insights

Claims & Rehabilitation

Making A Billion Dollar Difference

Vitality in Super

Claims analysis yields interesting results

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Claims analysis yields interesting results