AIA will continue to provide risk insurance products covering death, TPD and income protection for Sunsuper up until 2020.
Sunsuper chief executive Scott Hartley said after a review of the market, the business decided to extend its insurance and reinsurance arrangements with AIA beyond July 2016 for another four years.
“Extending our partnership with AIA ensures we can continue to provide an insurance offering for members that is not only one of the best in the industry in terms of product design and functionality, but also represents great value for money for our members,” he said.
“AIA has proved fully supportive of our plans to use this research to drive innovation and product design in a move that not only ensures the future sustainability of our insurance offering, but also supports members with the right levels of cover at the times when they need it most.”
Commenting on the extended partnership with Sunsuper, AIA chief executive Damien Mu said it was “extremely pleasing”.
“Sunsuper and AIA have been working on a new insurance design and service model that we’ll be able to easily accommodate with our strong customer service focus and technological capability – all of which will ultimately benefit Sunsuper’s members,” Mr Mu said.