Three New Products Launched by AIA


Three digital-only starter plans have been launched by AIA NZ to help Kiwis step onto the ‘protection ladder’ without needing to consult a financial adviser.

The firm’s CEO Nick Stanhope says 71% of the country’s population is underinsured, having either insufficient cover or no insurance at all.

The traditional new business market is in decline since its peak in 2017,” he says. “The 2021 Financial Services Council report showed an $80 million annual premium income reduction in new business since then – indicating that around 50,000 more Kiwis are now without sufficient insurance cover.”

The firm’s three new products are:

  • AIA Healthy Starter
  • AIA Starter Life
  • AIA Starter Life Plus
Nick Stanhope, CEO, AIA NZ
Nick Stanhope, CEO, AIA NZ

By offering these three new digital-only, non-advice propositions, we believe AIA can help more Kiwis get better protected,” says Stanhope.

As the needs of our AIA Starter plan customers change and become more complex over time, we expect to transition these customers to trusted advisers who can provide specialised cover and tailored advice.”

…AIA will refer clients to advisers when an advice conversation is required

Stanhope also says AIA will refer clients to advisers when an advice conversation is required as part of the purchasing process of these new products.

In cases where the AIA Starter Plans are not suitable or a customer is ineligible for cover, we will pass these customers on to advisers to better understand their individual needs, and explore alternative insurance solutions tailored to their situation.

Existing advised customers holding AIA retail risk and health products will also be ineligible for our AIA Starter Plans, and will be referred to their servicing adviser.”

Stanhope says the new products have been designed for young professionals, tradies and those starting out with families.

To find out more,  visit AIA Starter Plans.