AIA renews group insurance partnership with CFS

Having been reappointed as the insurer for Colonial First State (CFS) back in 2021, AIA Australia has renewed its partnership with the superfund and will continue providing insurance to the 200,000 members across CFS’ FirstChoice Employer Super, Essential Super, and FirstChoice Wholesale Personal products.

In addition to accessing AIA’s insurance products, CFS members will also be able to make use of AIA Embrace, a collection of wellbeing programs and partnerships “designed to support people’s everyday health and wellbeing … from prevention through to diagnosis, treatment, and recovery”.

AIA Australia chief executive Damien Mu said he and his team were delighted to continue working with CFS and supporting its members.

“Over the past three years, we have witnessed CFS’ significant transformation, marked by innovation and growth. We look forward to supporting their continued progress in the coming years” Mu said.

“The renewal of our partnership highlights our dedication to creating exceptional customer experiences, promoting health through our comprehensive wellbeing program, where we strive to support members in their health journey by offering them products, programs and partnerships that help them whether they’re well, unwell or recovering.

“We’re delighted to be able to continue to create and deliver a better experience and better health outcomes for CFS members.”

CFS CEO of superannuation, Kelly Power, noted the value of providing insurance through their superannuation and its role in helping its members achieve financial freedom.

“After a thorough review of our group insurance arrangements, we are pleased to be continuing our partnership with AIA Australia,” Power said.

“Our members will benefit from lower insurance premiums and will have access to a full range of health and wellness programs along with digital servicing tools that will make it easy to customise cover and claim.”

Earlier this year, AIA launched its new member insurance portal, which CFS members are able to access, giving customers the ability to track their claim through the entire life cycle.

The new portal allows customers to receive real-time updates about their claim, instantly upload documents and has integrated digital ID verification, reducing the administrative burden for trustees and reducing the wait time on claim decisions.

Speaking at the time, super fund HESTA said the new portal led to a 40 per cent decrease in customer queries to its claims call centres since implementation.