AIA Australia will offer My Psychologist, a virtual mental health support service, to its life insurance customers and their immediate family members in a move the insurer sees as addressing the urgent need for more timely and affordable mental health support. The insurer has also announced its CEO, Damien Mu, has joined Australians for Mental Health as its newest ambassador.
The company says the virtual mental health support service offering is facilitated by Online Psychologists Australia “…and will provide virtual consultations with qualified psychologists. The service will also assist with referrals for a Mental Health Care Plan by connecting members to a telehealth GP, if needed.”
AIA says that for several years, mental ill-health has been the main reason that Australians visit their GP, however their ability to access a psychologist is hindered due to extensive wait times and the associated costs.
…one in five Australians aged 15-85 experience a mental illness in any given year…
“My Psychologist has been developed to address these issues, aiming to provide users with an appointment with a psychologist within seven days for a reduced out-of-pocket fee of $60 through Medicare, for those with a Mental Health Care Plan,” it states.
The company adds that one in five Australians aged 15-85 experience a mental illness in any given year and the demand for mental health services in Australia is growing rapidly.
“ In 2023, 30% of adults were accessing support services for psychologists, psychiatrists and counsellors. However, they are often waiting up to three months to see a psychologist, with some waiting more than six months. One in three psychologists are so busy they’ve had to close their books, compared to one in 100 before the pandemic.”
…mental health disorders account for 20% of AIA’s life insurance claim book, making it the second most claimed condition…
The insurer notes too that mental health disorders “…account for 20% of AIA Australia’s life insurance claim book, making it the second most claimed condition. Over the past decade, the proportion of mental health claims has increased from one in 10 claims in 2014 to one in four in 2024.”
Mu emphasised the significance of launching My Psychologist as part of the insurer’s wellbeing ecosystem, AIA Embrace.
“We’re proud to announce that we have taken an important step in the life insurance industry to improve access to mental health support in Australia.”
He says that in line with the company’s focus on prevention and health promotion “…we recognise the significant impact that seeking the right treatment at the earliest opportunity can have on an individual’s overall health.”
Mu adds that the launch of My Psychologist for AIA’s life insurance customers and their immediate family members “…is a step to address the unprecedented demand for qualified psychological services. This service will ensure users can access mental health support in a timely manner, providing them with a sense of empowerment and professional care during their mental health journey.”
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Damien Mu Joins Australians for Mental Health as Ambassador
In welcoming Mu as AfMH’s newest ambassador, AfMH’s Executive Director, Chris Gambian says the mental health of the Australian people is in crisis and it needs a crisis response, noting that Mu will bring his decades of experience “…to our campaign to transform Australia’s mental health.”
Gambian says Mu is passionate about making a difference in people’s lives and he’s honoured that Mu believes in the work of Australians for Mental Health “…and will bring his knowledge, passion and dedication to help address this essential issue.”
Mu says he’s looking forward to extending AIA Australia’s support for Australians for Mental Health by acting as an ambassador.
“For the last three years, AIA Australia has contributed financially to Australians for Mental Health, supporting them in their mission to create a fundamental change to how Australia manages the mental health crisis. I’m thrilled to now join them as an ambassador, to continue to raise awareness and incite action.”
He notes that as a life and health insurer, AIA Australia sees first-hand the significant impact that mental illness has on Australians and their families.
…Claim payments for mental health related conditions have increased by 72% in our life insurance business since 2019…
“Claim payments for mental health related conditions have increased by 72% in our life insurance business since 2019, and it is the leading cause of our Income Protection claims.
“The statistics around mental ill-health are no doubt sobering, but we have an opportunity to make a difference that can have a profound impact for all Australians. Businesses can work alongside government and not-for-profits to address societal problems.”
Mu says in his role as an ambassador, he will ensure that the voices of AIA’s customers navigating the healthcare system are heard.
“Transformative change starts with the voices of those with lived experience, so it’s crucial that we listen.”
