AIA Australia has introduced a new reward incentive to encourage deeper engagement with its health and wellbeing program, AIA Vitality.
The insurer says that in response to the widening insurance coverage gap and persistent cost of living pressures, it has created an initiative that will return value generated from engaging in the program.
From 1 April 2024, when a new AIA Priority Protection insured activates their AIA Vitality membership and reaches Silver Status (10,000 AIA Vitality Points) within six months of the policy commencing (subject to terms and conditions) AIA will pay:
- $500 to the AIA Vitality member’s bank account nominated in the AIA Vitality app six months after policy commencement
- $500 to the servicing financial adviser’s licensee, paid in the commission run proceeding Silver Status being achieved by the member
The company says its data demonstrates that when members engage meaningfully in the program they “…begin to gain tangible monetary rewards and benefits whilst improving overall health and wellbeing. As an insurer, AIA also observes an improved claims experience.”
Adviser Support
To support advisers with the incentive, AIA will provide dedicated resources to support a client’s progress towards achieving Silver Status and can work with clients directly to assist with onboarding.
It is the first time the insurer is offering a $500 reward payment when members reach Silver Status within six months of their membership commencing.
Sam Tremethick, Chief Retail & Partnerships Officer at AIA Australia, says that with the Silver Status reward “…we’re excited to bring to both members and advisers an initiative that will encourage members to engage early with the program and that will put money back in their pockets at a time when cost of living is hitting.”
Members who engage with the AIA Vitality program can reduce their insurance premium by being active and making healthy choices, and receive up to $500 each year in shopping rewards, partner discounts as well as cash back on eligible domestic and international flights.
This year is the 10th anniversary of the program.
