Risk Company Update

AIA Australia to sell super and investments business, wellbeing program update

An agreement has been reached between AIA Australia and Resolution Life Australasia for the offloading of AIA’s Superannuation & Investments business. AIA Australia previously bought the business off the Commonwealth Bank, as CommInsure Life. There are to be no changes to the business for customers for 12-18 months.

New data has been released by AIA Australia regarding its wellbeing program, with members who use an Apple Watch increasing their physical activity by up to 51 per cent in a year. The program offers each participant the watch at the start of the program, with the opportunity to reduce monthly payments to zero by meeting physical activity goals. The Apple Watch is part of the Vitality program that aims to use behavioural science, personalised goal setting and micro-rewards to create positive habits around physical activity.

MetLife and AIST partnership

The Australian Institute of Superannuation Trustees (AIST) and MetLife have announced a two-year partnership whereby the insurer will become the exclusive insurance partner of AIST.