2026-11-12 · Source: Insurance Business New Zealand
Summary in 3 Points • AIA New Zealand has automated underwriting for simpler life insurance applications in a major group scheme covering 14,000 members. • The automated system, built by Intelligent Life, allows eligible applications to be accepted without manual review, enhancing efficiency. • The changes aim to meet regulatory requirements under the Conduct of Financial Institutions regime, ensuring fair treatment of all applicants. --- AIA New Zealand has implemented an automated underwriting engine for its group insurance scheme, which serves approximately 14,000 members of the New Zealand Police Association. This system, developed by the insurtech Intelligent Life, allows eligible applications to be processed without manual review, freeing underwriters to focus on more complex cases. The overhaul aims to simplify enrolment and reduce administrative burdens, while also ensuring compliance with upcoming regulatory requirements. The automated rules ensure consistent treatment of applicants, which is crucial for meeting the Conduct of Financial Institutions regime. However, the group cover provided may not fully meet the needs of all members, particularly those with significant financial responsibilities. AIA's move towards automation raises questions about whether similar systems will be adopted for retail applications, potentially impacting how advisers interact with the underwriting process. AIA's automation of underwriting for group schemes reflects a trend towards efficiency in insurance processes, which could influence similar models in the London Market.
AIA's automation of underwriting for group schemes reflects a trend towards efficiency in insurance processes, which could influence similar models in the London Market.