AIA New Zealand releases annual claims data

AIA New Zealand releases annual claims data | Insurance Business New Zealand

Claims

AIA New Zealand releases annual claims data

Data shows company has served more than 815,000 New Zealanders

Claims

By
Abigail Adriatico

AIA New Zealand recently released a report that showed its annual claims for 2022.

“As New Zealand’s largest life insurer, we protect more than 815,000 New Zealanders and their families and we’re proud to be there for our customers when they need us most,” said Angela Busby, AIA NZ chief customer officer.

The data showed that throughout the year, 93% of the claims the company received were accepted. Forty-two per cent of the $646.4 million that the company paid in claims was counted towards life insurance, which amounted to $233.8 million. Forty-seven per cent of these claims involved cancer.

There was an increase in health claims as it reached $121.5 million, up from $112 million in the previous year. Twenty-three per cent of the claims paid involved musculoskeletal care, followed closely by cancer with 19%.

“We help people at all stages of their health journey – from prediction, prevention, diagnosis, treatment, through to recovery and rehabilitation – resulting in better health outcomes, lower insurance costs and ultimately more New Zealanders living healthier, longer, better lives,” Busby said.

The report also showed the key claims insights of the company’s members with regard to their age. It showed that while health insurance is important for all age groups as it provided essential support, claims concerning critical illness and life insurance policies began within the age bracket of 30-39, gradually increasing as members grow older given that health issues were more common with older generations.

More than 30,000 of health related claims were submitted online through the MyAIA customer self-service portal, which was an ongoing investment of the company towards the delivery of end-to-end digital customer and adviser experience.

“At AIA NZ, we’re transforming the role we play in our customers’ lives and in society. Rather than simply being a payer of claims, we want to partner with people to support their ongoing health and wellbeing,” said Busby.

The company’s AIA 360 Care program, a personalised end-to-end claims experience that provides members with support, guidance, and rehabilitation, had allowed its claims case managers to visit customers as well as their families as $1.3 million was further invested in rehabilitation in order to assist customers who were returning to work.

“Reaching thousands of customers through our range of health and wellbeing services across multiple touchpoints – including AIA Vitality – we are making high-quality care more accessible and sustainable, while helping ease the burden on Aotearoa New Zealand’s public healthcare system,” said Busby.