AIA; Business continues and adviser support

Here is the latest news from AIA in regards to keeping business operating and continued support to advisers:

Our workforce
To help protect our people and best support you, in line with Government direction, we will:

  • reduce the number of people in our offices for essential services only, and
  • transition the rest of our people to working from home.

Our service to you
As we transition our people to remote working, there may be impacts on our service levels and the way we provide services to you. We will work hard to minimise these impacts and we ask that you please support us by: 

  • Limiting calls to our Contact Centre to urgent enquiries only by instead using one of the following alternative channels
  • Reducing contact to our Claims team by limiting calls only for essential and urgent claims
    • Delays may be experienced as we move our teams to work from home; we thank you for your patience while we transition our teams to work remotely as much as possible
  • Using our eApp instead of paper or emailing through customer applications
    • When you email a paper proposal to us, it requires multiple handovers between different teams. We expect that paper proposals, even those emailed, will take longer than usual to process.
    • The eApp bypasses this issue and significantly speeds up the submission processes.
  • Internal replacements from AIA Real and Sovereign TotalCare Max to AIA Living can take longer to complete than processing new applications submitted via eApp
    • Wherever possible, please consider deferring like-for-like replacements to AIA Living

Our external providers
We are working closely with our service providers to ensure that we can continue to provide key services, including medical information.

For the safety of our Health Screen nurses and Claim Case Managers, all visits have moved to phone based. We are also working with our reinsurers to assess our ability to obtain medical information to support our underwriting and claims processes.

We are open for business
We remain open business and will do our best to support you to assist your existing customers and protect new customers seeking insurance.

We are continuing to monitor developments and at this stage there are no planned changes to our AIA Living product range.

As noted above, delays may be experienced as we move our teams to working from home and we thank you for your patience and support during this time.

 


AIA confirms COVID-19 cover and recommends following MOH guidelines

Nick Stanhope, CEO of AIA, has made this media announcement confirming COVID-19 cover and to follow government guidelines: 

As a valued partner of AIA New Zealand, I want to ensure you remain informed about the developing COVID-19 situation, and our responses to this.

Our service

Servicing and supporting you and your clients is our absolute priority. At this time we are experiencing an increased volume of calls through to our Contact Centre and Claims teams. We are encouraging policyholders to reach out and talk to their financial adviser or to use one of our online options to contact us or find out more:

• Visit our COVID-19 support page
• MyAIA for Live Chat and to view policy information
• Facebook

We are encouraging advisers to make full use of our AIAHub and eApp systems. This will help to improve turnaround times and to keep you updated on the progress of new business applications.

Our insurance cover

I want to assure you that COVID-19 has no impact on our existing policies.

Our insurance products do not contain exclusions for pandemics. If your clients need to make a claim related to COVID-19, as with any other claim, they will simply need to meet the eligibility requirements for their benefit type.

We are communicating this to policyholders and encouraging them to understand what they are and are not covered for and to speak to their financial adviser. We are monitoring the situation but I want to assure you that all of our products remain open for new business and we have no current plans to review this.

For any new insurance applications we receive, including increases in existing cover, it will be normal practice but with the exception that we may need to take into account in our assessment any proposed travel to countries where the Ministry of Foreign Affairs and Trade has raised its advice level to Do Not Travel as a result of COVID-19.

Our current actions

We have detailed incident management, pandemic and business continuity plans in place.
As a global insurer, we are closely monitoring the situation around the world. We are receiving frequent updates from our Group Office in Hong Kong and we are following the health and travel advice of the New Zealand government.

We urge everyone to follow the travel advice of the Ministry of Foreign Affairs and Trade at SafeTravel.govt.nz and the health advice of the Ministry of Health at Health.govt.nz.

In order to protect the health of our staff and those they come into contact with, we have put in place a number of measures designed to limit contact including ceasing all non-critical travel and conference attendance and minimising face-to-face meetings.

I believe it is important to remain calm but vigilant, and do what we can as a company and as a society to help limit and slow the spread of the virus.

If you have any questions, please contact your BDM.

Take care,
Nick Stanhope
Chief Executive Officer


AIA news

AIA have sent out a newsletter recently covering their latest updates including:

AIA Vitality Fitbit Campaign. The campaign is running until the 15th of May and allows clients to receive a free Fitbit Insire HR on certain AIA policies taken out. Click here to find out more.

AIA have updated turnaround times based on adviser feedback and you can find more details here.

You can find AIAHub's weekly tips at this link which provide more information on editing quotes, payment details and uploading attachments. 

Jess Quinn in the newest AIA Vitality Amassador and you can view the latest ad below.


New exclusions: cancellation due to sanctions

A new type of exclusion has appeared. The average policyholder has nothing to worry about. Perhaps it would be more accurate to say - only the most extraordinary policyholders have any concerns, and if they did, we should probably have concerns about them.  That's because the new exclusion is to remind people that if they - or a related party - are subject to sanctions from a range of western economies or the United Nations, then the policy may be cancelled. Here is the section from AIA's policy document: 

Cancellation due to Sanctions
We shall not provide cover for any risk and/or activity and shall not be liable to pay any claim or pay any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would be in respect of a person who is the subject of any sanction, prohibition or restriction under United Nations resolutions or trade or economic sanctions, laws or regulations of New Zealand, the European Union, United Kingdom or United States of America, or any of its states and/or any other applicable economic or trade sanction laws or regulations.
This provision applies without limitation not only to the policy owner or holder, but to the life assured and any assignee, other third party, related party or beneficiary of the policy.
Should we determine that the above is applicable, we may at our sole discretion terminate the policy with immediate effect.

This should probably be seen in the context of the conduct conversation. If you have been following the concerns about Westpac Bank in Australia raised by the AUSTRAC, the regulator responsible for enforcement of the equivalent of our AML-CFT laws you will see that context is no longer purely local. Regulators expect companies to have oversight mechanisms in place, and tools to manage actions that the regulator may require. That's what AIA's new cancellation mechanism is about. Hopefully it may never get used, but a prudent approach is to have the tools available just in case.