A new iteration of a digital tool designed for Group super members to engage, educate, provide advice and make it easier to apply and manage life insurance online.

Life insurance is vitally important, but many Australians aren’t engaged with it or simply don’t understand it. According to research undertaken by AIA Australia in the last two years, only 3 in 10 working Australians know they have insurance within their super. 2 in 3 also expressed that they want assistance from their super fund in understanding their financial situation.

To simplify the process of managing and understanding life insurance within super we are listening to our customers and extending functionality of our current digital underwriting tool, LIFEapp. Designed in partnership with digital financial advice provider SuperEd, we are introducing personalised life insurance education and digital advice making it easier for members to learn about life insurance, assess their needs and manage their cover.

Our new iteration of LIFEapp (LIFEapp 2.0) uses AIA Australia’s Digital Experience & Human-Centred Design framework, meaning our technology solutions are developed through a deep understanding of user’s needs, wants and goals, and are easier and more enjoyable to use for our customers.
LIFEapp 2.0 is spilt into five key modules reflecting various stages in the member’s journey:

  1. Engaging members on insurance.
  2. Educating them on their options.
  3. Providing online Advice.
  4. Making it easy to Apply for insurance.
  5. Allowing members to Manage their insurance all in one spot.

LIFEapp’s Member Insurance Dashboard, simplified communications, digital education, personalised learning pathways and tailored digital advice makes the process easier for members. Through this simplification, members are empowered to take control of their insurance needs with more confidence than before.

Educational content is split into various life stages and scenarios to provide the information that is most relevant for the member’s individual situation. Content is designed to be reviewed at the member’s own pace, providing insight on:

  • Why they need insurance,
  • How advice can help them,
  • What cover people similar to them have,
  • What type of cover they have,
  • What they are and aren’t covered for, and
  • How increasing their cover affects premiums and retirement balances.

As an example, using the information the member provides us, if a member chooses to cancel or reduce their cover they will be presented with the educational materials most relevant for their situation so they understand and can make an informed decision. We have developed a prototype for this education and advice module and will be looking to go-live this year.

Moving forward, we will continue to use our Digital Experience & Human-Centred Design framework to gain deeper insights into LIFEapp users’ needs and to alleviate their pain points. We’ll also continue to design, develop, test, validate ideas and release additional features over time so we can keep making a difference in members’ lives.

For more information visit AIA Australia http://www.aia.com.au/en/business/group-insurance.html