AIA releases group insurance education tool

The new online module will be integrated with AIA’s Group Insurance LIFEapp, its online application tool, AIA Australia said in a statement.

The module, LIFEapp 2.0, will be member-focused and provide many important insurance services in one spot, where members will be able to learn about insurance, get personalised assistance and manage or apply for their cover, the statement said.

AIA Australia and New Zealand chief executive Damien Mu said members will be able to easily access the portal from their superannuation fund and make use of all the tools provided.

“The low level of engagement and understanding of life insurance is a key issue to address for the industry,” Mr Mu said.

“We want to support our partnering superannuation funds help their members to better understand the cover they have, why it’s important and what they need.

“By educating and assisting members on how life insurance works, we can support them in learning about the benefits of their cover, via an easy and fun way in their own time.”

SuperEd chief executive Hugh Morrow said the goal is to improve the retirement outcomes and help address the financial literacy of fund members through education.

“We enable super funds to engage and encourage their members to make better decisions through the provision of cutting-edge tools,” Mr Morrow said.

“Our partnership with AIA will significantly enhance the ability of super funds to provide appropriate life insurance advice and education to their members.”