Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


AIA introduces bold changes to NZ health insurance market

Media release: Embargoed until 5.00pm, Wednesday 30 September

AIA introduces bold changes to NZ health insurance market

30 September, 2015 – AIA today signalled its growth intentions with enhancements to its personal product range, and launching with a new health product that lifts medical cover to $500,000, with a discount regime to make their insurance products more affordable for customers.

The new Real Health product introduces new $500,000 limits on surgical and non-surgical treatments, including new generation, non-Pharmac treatments for cancer, such as the innovative immunotherapy treatments, that are otherwise unaffordable for the average New Zealander.

Chief executive Natalie Cameron says: “Our new Real Health policy directly addresses the affordability issues for these new treatments, but we’re also moving to address the general affordability of insurance cover for the average New Zealander by introducing a generous discount regime on premiums.”

AIA customers who purchase the Real Life policy together with other insurance policies receive an escalating discount per extra policy.

“The more policies that are bundled up, the greater the discount that is available,” Cameron says.

The two initiatives, taken together, will increase the number of New Zealanders gaining access to the latest life-saving drugs and treatments, she added.

“These new drugs and treatments are coming to market quickly and although there is uncertainty around when and how much they will cost, we can be sure that costs will continue to rise,” comments Cameron. “The insurance industry is about effectively managing risk and we are introducing this new product now in the expectation that New Zealanders will need that level of support in the near future.”

As the second largest life insurer in the world, AIA is serious about investing in the New Zealand insurance industry, Cameron says. “The AIA group has a market capitalisation of $116.34b, and that gives us the economies of scale to provide New Zealand families with an affordable choice,” Cameron adds.

“We aim to be a serious industry player offering innovative products, with real benefits, that are more relevant to people’s lives than our competitors’ offering.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Digitl: Download 2.0 – Vodafone Wi-Fi Calling hits early milestone
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>

Commerce Commission: News Publishers’ Association Seeks Authorisation To Engage In Collective Bargaining

News Publishers’ Association of New Zealand Incorporated seeks authorisation and provisional authorisation to engage in collective bargaining with Facebook and Google. The Commerce Commission has received applications from News Publishers’ Association of New Zealand Incorporated (NPA) seeking authorisation and provisional authorisation on behalf of itself... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>

REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>