AIA restructures retail

AIA Australia's retail insurance division has a new structure, with underwriting, new business administration, and distribution capabilities now combined.

The life insurer said the change will unite the key touchpoints in the retail-advised purchasing journey, offering advisers more straightforward processes to assist their clients.

Chief partnership distribution officer Sam Tremethick has been promoted to chief retail and partnerships officer, leading the development and delivery of the strategy, within the retail and partnerships team.

"At AIA, we're passionate about ensuring advisers and their clients have the best experience and we constantly seek improvements where possible," Tremethick said.

"These changes aim to drive efficiency in our service proposition, making it easier to do business with us and provide consistent client outcomes."

Further, he explained that merging the functions together will speed up the application process, as well as provide simplified and more tailored experiences to its customers "and it will deepen our customer-first focus."

"As part of our focus on getting future fit, we are adapting to new challenges to continue to be at our best for our customers, partners and people," he said.

Further, AIA's recently appointed chief underwriter Karen Janes will now also assume responsibility for the new business administration function.

AIA said the move will enhance the experience for new AIA Priority Protection clients.

Simultaneously, the adviser premium service team will now be led by general manager, retail distribution Craig Parker.

Parker will oversee AIA's new business sales and service proposition for the retail-advised market.

AIA said that the structural changes, in conjunction with the recent amendments in reinsurance arrangements made in September, underscore its dedication to the retail adviser market.

The company said it also aims to leverage the increasing demand for high-quality life, health, and wellbeing guidance.

Life insurance profits in Australia have surged to $1.2 billion, doubling in the year to June 30, primarily due to growth in the superannuation business, as reported in KPMG's annual market review.