Australian Life Insurers Focussed on Customer Health
When AIA launched its Vitality Health and Wellbeing program in Australia in 2014, the idea of a life insurance company helping its policyholders to achieve better health outcomes was revolutionary.
Now, almost 10 years later, we find that many other life insurance companies have put in place programs of their own. These companies have recognized that improving the health of their policyholders will lead to fewer claims and a win-win for all.
While it has become common in recent years for insurers to offer discounts to customers who have a healthy BMI (body mass index) at the time of application, health and wellness programs can offer a wide range of support services. These can include providing help to achieve or maintain good health or the medical services needed to recover from an illness or injury.
Awards for Health and Wellness Overall Excellence 2023
Plan for Life have today announced the winners of their 2023 Health and Wellness Excellence Awards. These awards recognise the Life Insurance Companies who have made the most recent advances in improving the health and wellness of their customers.
This year the Overall Health and Wellness Life Insurance Award has been awarded to MetLife for its 360Health program.
360 Virtual Health Care provides expert medical support and guidance from doctors, specialists and health clinicians including exercise physiologists. This online service assists clients and their families to improve their diet, fitness, mental health or seek advice on an injury or medical concern.
Plan for Life also made two innovation awards this year for new ideas, concepts or Health and Wellness initiatives in the Australian Life insurance market.
MetLife received the Innovation-Program Award for their 360Health Hub – Financial Wellness pilot and MLC received the Innovation-Technology Award for Wysa Assure – an AI based Mental Health Support App.
|Overall Health and Wellness – Excellence
|Innovation – Product
|360Health Hub – Financial Wellness pilot
|Innovation – Technology
|Wysa Assure – AI based Mental Health Support App
Awards for Other Health Initiatives
Plan for Life also recognised other insurers excelling in the below categories:
|Devices & Health Tracking
|Based on how Health and Wellness activities undertaken by customers are measured and monitored
|Discounts and Healthy Living
|Based on how customers are rewarded that meet health living conditions
|Physical and Mental Health Support
|Based on how customer’s physical and mental health needs are supported
|Ongoing Medically-Tested Health Discounts
|Based on how actual medical tests are used to determine if premium discounts are appropriate
|Rehabilitation and Claims Support
|Based on how customer’s health return to work is supported
|Based on the positive outcomes achieved by the Health and Wellness program
Latest Discounts and Offers – more information on the Health and Wellbeing incentives and discounts on offer
BMI Calculator – see if you qualify for a BMI discount on your life insurance cover
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