ARTICLE

AIA Group Achievements in 2023 – Enhancing Services for Better Partnerships

7 December 2023 dot 6 min read

As we near the end of 2023, we proudly reflect on a year of remarkable achievements driven by a strong commitment to our group super fund partners.

These accomplishments have been specifically tailored to address the needs and preferences of our valued partners, based on insights gathered from our Group Satisfaction Survey. Let's delve into the key focus areas and the progress we’ve made this year. 

Product & pricing - comprehensive improvements for enhanced competitiveness

Our journey to bolster product and pricing began with an independent review conducted by a major consultant. The goal was to enhance competitiveness and transparency while ensuring the sustainability of our operations. The final report presented a set of recommendations, all of which have been successfully implemented:  

Efficient team structure

We streamlined our approach by consolidating the Group Insurance Channel and establishing dedicated Group Pricing and Product Teams. These teams are now united under the banner of the Group Partnership Solutions team, each focusing on specific segments such as Industry Funds, Master Trusts, Corporates, and Major Accounts. 

Client collaboration

To ensure the timely delivery of services and avoid unnecessary rework, our Product and Pricing teams now work hand in hand with dedicated Pricing/Product Business Partners who liaise directly with our clients. 

Risk preference expansion

A notable development has been the expansion of our risk preference statement and authority limits. This shift has significantly increased our risk appetite for industries and occupations that were previously beyond our scope. With greater decision-making authority vested in our local pricing and product teams, we have seen remarkable improvements in response times and overall operational efficiency. 

Interactive online pricing

We've phased out manual Excel-based tools and introduced an interactive online proprietary model for pricing. This transition hasn’t only reduced risks but has also significantly improved pricing transparency. 

Relationships – cultivating strong partnerships

At AIA, we understand that strong relationships are the foundation of a successful partnership. That’s why we've made several key changes in this area: 

Executive leadership

To reinforce our commitment to our group super fund partners, we've introduced the Chief Group Insurance Executive role. This appointment ensures a constant focus on Group at the executive level. 

Expanded roles

Recognising the importance of capability development, we've introduced additional Heads of roles across our partnership team. Furthermore, we've introduced Senior Client Development Manager roles with a special emphasis on capability enhancement. 

Dedicated delivery team

The Group Partnership Delivery Team is another significant addition. It is expressly focused on delivering propositions and offering robust support to the partnership team. 

Staff training

We've invested in the training of our partnership staff through Korn Ferry. This initiative is geared towards professional development and enhancing the overall skill set of our team. 

Proactive support for growth

This year, we've proactively supported growth through the provision of five employer webinars, three trustee training sessions, and four employer pitch presentations specifically for HESTA. 

Technology – advancing technological solutions

Technology continues to be a driving force behind progress and innovation at AIA. Here's a glimpse of the technological advancements we've achieved this year: 

Claims transparency (HESTA)

We've embraced digital claims tracking to provide our partners with greater transparency. 

Automation and integration (HESTA)

Automation has been at the forefront of our efforts. This includes the automation of the Insurer Submission Report, the introduction of Engage and Educate to support member understanding of insurance in super, and our ongoing integration with GROW. 

Introduction of eClaims (MST)

We've streamlined processes by introducing eClaims and GWS2.0 to further enhance the efficiency of our operations. 

Digital transformation (GSEB, CSC, and CFS)

Across various partner groups like GESB, CSC, and CFS, we've initiated projects aimed at enhancing our digital capabilities.  

Claims – enhancing the claims experience

We have an unwavering commitment to enhancing the claims experience for our partners and members. Here are the improvements we’ve made across claims: 

Structural changes

A significant step in this direction was the creation of the Chief Claims and Customer Officer role. We've also increased the size and capability of our claims team. 

Portfolio review

A comprehensive review of our portfolio size was conducted to ensure optimal efficiency. 

Complaints management framework

The introduction of a new complaints management system and framework has further enhanced our service quality. 

Data-driven insights

We've provided new reports to offer deeper insights into claims processes, with a specific focus on our partner, CFS.  

Industry compliance

Our commitment to industry compliance is evident through our continued adherence to LifeCode and FSC Standard 28. Furthermore, all Group staff members are actively working towards ANZIIF accreditation.  

Underwriting and group administration – streamlining the processes

We’ve taken significant steps to enhance the efficiency of our underwriting and group administration functions. These include: 

Restructuring for visibility

Underwriting now reports to the Chief Group Insurance Officer, ensuring visibility and support for the partnership channel. 

Enhanced access to Intelhub

The Intelhub Underwriting dashboard is now available to our partner, CFS.

Training and accreditation

All Group staff are actively working towards ANZIIF accreditation, and training has been provided to Trustee staff on the retrospective non-disclosure approach (HESTA). 

Operational improvements

Multiple operational improvement initiatives have been executed, agreed upon by both parties, and tracked within quarterly strategy forums.   

Mental health focus

We’ve reviewed the underwriting guidelines, with a particular focus on mental health. 

Data-driven decision making

We’ve integrated LIFEapp digital analytics into our monthly reporting to drive continuous improvement.  
 
In this ever-evolving landscape, AIA continues to strive for excellence by tailoring our services to meet the unique needs of our group super fund partners. We look forward to an exciting journey of collaboration, innovation, and growth in the upcoming year.