Insurers Take Wellness Message to Canberra

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The life insurance sector has taken its message of the importance of improving the health and wellbeing of Australians to Canberra with the formation of the Parliamentary Friends of Insurance Group.

AIA Australia CEO, Damien Mu

The group, which has been created by the Financial Services Council (FSC), held its launch event last week and will promote awareness and understanding of how insurers can improve the health of their policy holders to Federal politicians,

The launch event was supported by AIA Australia and MLC Life Insurance which, via their health and wellness programs, had been collecting the fitness data for three federal politicians to demonstrate how wearables and wellness programs can improve the health of Australians.

Senator Deborah O’Neill and Terri Butler MP used the AIA Vitality program, and Senator Dean Smith used the MLC On Track program and all three wore a fitness tracker for four weeks to monitor their fitness, sleep and travel with the data presented at the event.

AIA Australia and New Zealand Chief Executive, Damien Mu said the engagement by Australians with their life insurance has been low but wellness programs had assisted customers to improve their health and engage further with their life insurance.

“The financial services industry has a vital role to play in promoting the prevention and early intervention of health-related illnesses affecting Australia. By doing so we can make a real difference that delivers benefits to customers, government and insurers through lower health costs and fewer claims,” Mu said.

“An increased focus by the entire insurance industry on implementing wellbeing programs to help people on their health journey and also create real value for customers will go a long way to helping them be well, get well and protect their future,” he added.