AIA Australia has been selected by Mercer as its new insurance partner, effective from July, next year.
Mercer managing director and market leader, Ben Walsh confirmed the insurance appointment this week.
He said AIA Australia had been chosen because of its customer-first philosophy, both in terms of paying valid claims in a timely manner but also due to their investment in online tools capable of
"The new agreement includes a genuine focus on providing superior rehabilitation services and support to help members recover from illness or injury and get back to work faster," he said.
Commenting on the mandate, AIA Australia chief executive, Damien Mu said the company was proud to have been selected as Mercer's insurance partner for the next five years.
The market announcement said the new agreement would take effect from 1 July 2017 with a transition period to ensure there would be no disruption to Mercer customers.
The insurance company has joined this year’s awards as a principal partner.
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.