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AIA reappointed as insurer for super fund

AIA Australia has announced that it has been reappointed as the insurer for Colonial First State (CFS), following the completion of a market tender.

The news means that AIA will insure CFS members who are covered under the FirstChoice Employer Super, Essential Super, FirstChoice Personal and FirstChoice Wholesale Personal products.

Following the confirmation of the award, AIA Australia CEO and managing director Damien Mu said his team were excited to put their own spin on the CFS insurance offering, engaging members with innovative new propositions and engagement tools.

“What makes us unique is our holistic focus on Australians’ life, health and wellbeing, throughout their entire lives,” said Mr Mu. 

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“The team and I are excited to create and deliver an exceptional experience for members, to support and empower them to live healthier, longer, better lives.”

The evolution of the CFS insurance offering will introduce new AIA digital capabilities to members. These include education tools alongside the flagship AIA Vitality health and wellbeing program.

According to Mr Mu, it was important to AIA to provide value to members outside of the claims function, saying it was just as valuable to provide them with opportunities to engage with products and services on an ongoing basis.

“We want to help members to know more about their health and wellbeing — including their financial wellbeing — and understand how they can improve these important aspects of their lives.”

The news of the new insurer follows an announcement from CFS at the end of August that they would cut administration fees on the FirstChoice Employer Super product.

AIA reappointed as insurer for super fund
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