Parliamentary insurance group formed

The FSC and two of its members have supported the establishment of an insurance working group within the federal parliament.

The Parliamentary Friends of Insurance Group, made up of federal MPs, has been formed and held its first event in Canberra on Wednesday, hosted by the FSC, AIA Australia and MLC Life Insurance.

The new body will open a dialogue between insurers and policymakers about the importance of insurance products in the community and discussion around health and wellness.

At the event, personal fitness data was released about three MPs to raise awareness of wearable technology and the role of insurers in promoting good health outcomes.

Labor politicians Senator Deborah O’Neill and Terri Butler MP used the AIA Vitality program, while Liberal senator Dean Smith used the MLC On Track program to measure fitness, sleep and travel for four weeks prior to the event.

Commenting on the matter, AIA Australia chief executive Damien Mu said:

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“The financial services industry has a vital role to play in promoting the prevention and early intervention of health-related illnesses affecting Australia. By doing so we can make a real difference that delivers benefits to customers, government and insurers through lower health costs and fewer claims.”

Parliamentary insurance group formed
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