Of the AIA New Zealand policyholders who are eligible for Vitality membership, 11% are currently part of the health and wellbeing programme – a statistic that could very well improve with the help of advisers and a new tool rolled out by the insurer.
Introduced over two decades ago in South Africa, the Vitality programme reached Kiwi shores in 2019. Since then, members in New Zealand have recorded nearly 24 billion steps. Still, AIA believes more stand to benefit from the flagship programme.
“AIA NZ insures over 800,000 customers, and about 350,000 customers are eligible to attach AIA Vitality to their policy,” AIA NZ chief product & investments officer Len Elikhis (pictured) told Insurance Business. “We are really pleased to see 40,000 customers engaging with the AIA Vitality programme and look forward to seeing this grow in the coming years.”
That growth will mainly be facilitated by advisers who can now use the newly launched AIA Vitality Value Calculator, which is an interactive digital tool designed to assist them in demonstrating the benefits, rewards, and point-earning opportunities within the programme to their clients.
“For example,” noted Elikhis, “it can show how doing more exercise, getting a good night sleep, or completing routine health checks can allow members to move through each AIA Vitality status and earn rewards along the way – such as insurance premium discounts, Airpoints, discounted Les Mills memberships, and Countdown vouchers.
“We hope that the AIA Vitality Value Calculator will make those conversations easier and more interactive so, ultimately, we can help more Kiwis live healthier, longer, better lives.”
The rollout comes hot on the heels of this year’s Peak Performance Summit, through which AIA NZ presented advisers with useful information and offered inspiration to get them to be at their best state themselves, before they lead their businesses and clients towards the same wellness path.
Read more: AIA NZ on helping advisers get to their peak
“Advisers are crucial to helping promote AIA Vitality because they’re having important conversations with customers about their financial wellbeing, and AIA Vitality provides an opportunity to talk about their broader wellbeing goals,” Elikhis went on to tell Insurance Business.
“We hope that the AIA Vitality Value Calculator will make this a much more engaging conversation so advisers can show their clients the benefits and rewards available if they become an AIA Vitality member. We are grateful to have the support of the adviser community in this way, so together we can work towards making New Zealand one of the healthiest, best protected nations in the world.”
While it is quite premature to observe whether engagement with Vitality is leading to reduced insurance claims, certain other benefits are already being enjoyed via the Kiwi version of the programme.
“We have already seen some significant improvements in customer persistency – customers who engage in AIA Vitality are more likely to see tangible value in their insurance cover and retain their policy,” shared the chief product & investments officer.
“It is still too early for us to analyse claims improvements; however, we have seen some encouraging signs pointing to improved health outcomes. For example, among members who have completed at least two AIA Vitality health checks, 19% have reduced their weight, 50% have improved their blood pressure, and 16% have reduced their cholesterol.”
He continued: “We have also seen evidence of increased physical activity among engaged members. We are confident that these behaviours will in turn lead to improved claims outcomes.”
Backed by science, AIA Vitality supports members in making healthier lifestyle choices by providing tools for health and wellbeing improvement and offering rewards as a means to motivate. Available with eligible AIA insurance policies, AIA Vitality has a monthly membership fee of $11.50.
For Elikhis, the programme is the foundation of AIA NZ’s approach to health and wellbeing – and, through advisers and the value calculator, the hope is to get more policyholders onboard to aid them in making positive lifestyle changes as part of their wellness goals.
