Industry superannuation fund HESTA has announced it will be appointing a new insurer after its existing agreement with CommInsure expires.
HESTA said in a statement that it decided to partner with AIA Australia following an extensive review of members’ insurance needs, the competitive landscape and insurance trends.
It added that a comprehensive tender was undertaken, supported by external consultants.
HESTA chief executive Debby Blakey thanked CommInsure for its partnership since 2011.
“We selected AIA based on a broad range of criteria, including financial strength, sustainable pricing, comprehensive rehabilitation support programs and capabilities to enhance our member experiences through digital technology,” Ms Blakey said.
“Our absolute priority is always the best interests and wellbeing of HESTA members.”
The appointment follows similar moves from TWUSuper and NGS Super leaving CommInsure for TAL in December and September last year respectively.