At AIA Australia, we understand that our 3.1 million customers rely on us not just for financial protection, but for comprehensive support that enables them to live Healthier, Longer, Better Lives. Our commitment goes beyond merely paying claims; we strive to be a partner in our customers' wellbeing journey, offering world-class support programs and innovative partnerships through AIA Embrace and AIA Vitality.
In the world of insurance, trust is the cornerstone of every relationship.
2023 Claims: A Year of Significant Support
The year 2023 saw AIA Australia rise to the challenge of supporting our customers through various life events. We paid out $2.3 billion in claims across our Group, Retail, and Direct insurance channels. To put this into perspective, that's over $44 million every week going directly to customers in their time of need.
Breaking down the numbers further, our group insurance partners facilitated $1.425 billion in payouts, distributed as follows:
- $501 million in Income Protection claims
- $438 million in Death claims
- $483 million in Total and Permanent Disability (TPD) claims
- $1.7 million in Crisis claims
Understanding the Most Common Claims
When we delve into the data, certain patterns emerge that shed light on the challenges our members face. For both Income Protection and TPD claims, mental health issues topped the list, highlighting the growing importance of mental wellbeing in our society.
Top 3 Claim Causes
Income Protection
1. Mental Health
2. Musculoskeletal conditions
3. Cancer
Total and Permanent Disablement
1. Mental Health
2. Musculoskeletal conditions
3. Accidents & Injury
These statistics underscore the critical need for comprehensive support that goes beyond financial assistance.
AIA Embrace: A Holistic Approach to Wellbeing
Recognising that recovery is about more than just financial support, we've developed AIA Embrace – an ecosystem of world-class programs and partnerships designed to support our members' overall wellbeing and recovery.
These programs are designed to provide members with the care and support they need to not just recover, but to thrive. By addressing the multifaceted aspects of recovery – physical, mental, and social – AIA Embrace aims to help members return to health and work sooner, empowering them to lead fulfilling lives.
The Road Ahead
As we look to the future, AIA Australia remains committed to evolving our services to meet the changing needs of our customers. We understand that the landscape of health and wellbeing is constantly shifting, and we're dedicated to staying at the forefront of innovative support solutions.
Our goal is not just to be there when things go wrong, but to actively contribute to preventing issues and promoting overall wellness. Through our continued investment in programs like AIA Vitality, which rewards members for making healthy choices, we're working towards a future where insurance is not just a safety net, but a proactive partner in health and wellbeing.
We believe that every member's journey is unique, and we're here to provide personalised support every step of the way. If you'd like to learn more about how AIA Australia can support your organisation, please don't hesitate to reach out to your AIA Client Development Manager.