Gerard Kerr

ANZ Wealth has announced it had introduced a series of initiatives to its OnePath solution in a bid to strengthen its relationship with funds and their members, and to help build trust as the life insurance sector faced a range of challenges.

ANZ outlined some of the challenges in its whitepaper titled ‘Life Insurance: The Case for Change’ released late last year.

Speaking at yesterday’s Association of Superannuation Funds of Australia’s Spotlight on Insurance event, ANZ Head of Life Insurance Gerard Kerr said the sector is at a critical juncture.

“We have ‘a clear direction’ for our OnePath solution and have identified a number of ways to positively support funds and their members through this change.

“We are not looking for a silver bullet to solve the challenges of our sector,” Mr Kerr said.

“This is going to take time, but by putting a series of initiatives in place we can build on this work and better support clients through the changing landscape.”

The initiatives ANZ has introduced include:

• Dedicating more resources to lead its mental health and wellness strategy and plan
• Supporting the Life Insurance Code of Practice and the Insurance through the
• Superannuation Working Group
• Running health portal pilots for Group schemes
• Caseworks early claims engagement program
• Health coaching to improve client’s health.

Focusing on two of the above initiatives, Mr Kerr said Caseworks and Health Coaching are great examples of making life insurance more engaging for clients, helping to build trust and good customer relationships.

Caseworks provides objectivity and clarity to a client’s claims experience, offering members the opportunity to fill in their claims with a qualified nurse in the comfort of their own home.

Meanwhile, health coaching offered with Remedy Healthcare helps clients reduce their loadings for blood pressure and BMI, and has had great initial results with a strong enrolment rate and an overwhelmingly positive reaction from clients and advisers.

Mr Kerr said continued investment in OnePath remained a priority.

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