AIA and Sovereign are combining the deep industry knowledge of our people and bringing together our best products, systems and processes. This includes working towards providing a competitive single-market offering designed to fulfil the insurance needs of Kiwis.
We remain committed to delivering the best outcomes for our existing customers. As part of this commitment, future enhancements to the new product offering will be passed back to AIA and Sovereign customers in line with the current pass-back approach (i.e. eligible AIA customers since January 2003 and Sovereign TotalCareMax customers since February 2001). This ensures that our customer’s cover today will still be relevant tomorrow.
A key first step towards a single-market offering is aligning the existing AIA and Sovereign product ranges. Over the next couple of months, we’ll be announcing approximately 90 enhancements across the AIA and Sovereign product ranges. We are taking the best of AIA and Sovereign to deliver the best outcomes for our customers by providing greater access to treatments, better support services and wider definitions that support Kiwis in their everyday life.
The first set of enhancements is for the AIA and Sovereign Trauma products.
* We’re introducing approximately 45 enhancements. These help ensure that our products support even more customers should they suffer a major medical event.
* A new Severe Illness or Injury Benefit across the AIA and Sovereign Trauma ranges and the inclusion of the existing AIA Terminal Illness Benefit to the Sovereign range. These benefits aim to provide coverage for rare or obscure medical conditions and serious illnesses or injuries that may not be specified within the policy wording.
* Medical technology is moving fast and it’s important to ensure that medical definitions within our trauma products remain appropriate. To achieve this objective, we’ve added a new Medical Advancement Provision, which provides customers with the opportunity to have their claims assessed under newly established medical diagnostic testing techniques.
We’re proud of our continued commitment to make a difference in people’s lives and to display our expertise and innovation at the forefront of the insurance industry.
Watch this space for further exciting enhancement news.