[Yangon, Myanmar, 3 November 2023] - AIA Myanmar, a leading life and health insurance provider recently held an event Work Well! Thrive Well! at Pan Pacific Hotel Yangon, aimed at spreading awareness of the importance of overall employee wellbeing, and the role AIA Myanmar is playing in helping Myanmar corporates have a healthier workplace. The event was focused on companies currently not covered by AIA Myanmar’s corporate solutions offerings.
Since launching operations in 2019, AIA Myanmar’s focus has been on spreading awareness of the importance of insurance protection and also overall wellbeing for people across Myanmar. In line with its Purpose of helping people live Healthier, Longer, Better Lives, the insurer has played a leading role in providing innovative products and services to deliver on this Purpose, and has also organised a number of wellness events in multiple locations across the country, to make an impact on the lives of people in communities across the country.
At the Work Well! Thrive Well! event in Yangon, AIA Myanmar shared their perspectives on the importance of employee wellbeing and the role employers need to play in promoting and ensuring a healthier workplace. The insurer shared details on its holistic Corporate Solutions offerings which are suitable for corporates of all sizes, and would enable them to play a more proactive role in their employee wellbeing, while also providing employees with much needed life and health insurance protection.
The core offering in AIA’s Corporate Solutions proposition is its first-to-market and innovative life and health insurance protection products, which are critical given the low insurance penetration in Myanmar. The overall proposition for corporates is further strengthened by AIA’s wide range of complimentary wellbeing offerings, including their flagship Ar Yaw Gyan (အာရောဂျံ ) with AIA WorkWell program, which supports employees in achieving an overall state of wellbeing across 4 key dimensions: physical, mental, financial and social wellbeing.
AIA Myanmar’s insurance product offerings include its recently launched Life Insurance proposition, which provides employees with a wide range of benefits to protect their families in the event of unfortunate incidents such as death, partial or total permanent disability and cancer; incidents which can put a significant financial strain on the employee's family. The lump sum payout made by AIA Myanmar to the family upon any incident enables the family to cope with the loss of income, especially in cases where the employee is the sole bread winner in the family.
The insurer had launched its Health Insurance proposition in 2022, providing employees with health protection through reimbursement of their medical bills in the event of hospitalisation, surgery, emergency treatments, outpatient consultations and a range of other health related issues, which are unexpected and tend to impact a family’s savings. The reimbursement of health expenses and the availability of cashless benefits in more than 6,800 hospitals across the world ensures employees are not burdened with medical costs in the event of any unfortunate health incident.
A large number of the features and benefits of these products are unique and first to market in Myanmar, and from an employer perspective offers a number of attractive benefits such as ability to customise the protection required and benefits, flexible pricing based on employee age or chosen benefit, coverage for employee dependents and many more, enabling corporates to provide these benefits to their employees in a cost-effective manner.
In addition to providing an overview of the product offerings, the event also included an expert panel with discussions around challenges currently faced by employers and employees with regards to employee wellbeing from a physical, mental, financial and social perspective. The panel of experts shared their insights on how best employers can help address these concerns, with many of these concerns being addressed by AIA Myanmar through its Aw Raw Jan with AIA WorkWell program, which was introduced in 2022 and has received excellent feedback from corporates who have been on the program. The program includes periodic activities organised by AIA Myanmar for its corporate customers through its health and wellbeing partners in Myanmar, with all these benefits complimentary.
Sharing more insights on the event and AIA’s Corporate Solutions offerings, Vivek Aranha, CEO of AIA Myanmar said "As the largest pan-Asian life and health insurer, AIA Group serves holders of more than 41 million individual policies, and members of 17 million group schemes, many of which are corporate employees. We are one of the largest providers of corporate solutions in Asia-Pacific, and since the launch of our business in Myanmar, we have continuously strived to introduce the best offerings from other markets to ensure we make an impact on society and support corporates in improving the health and wellbeing of their employees, which will go a long way in helping them protect what we believe are the greatest asset of any organisation – their employees!
From our experience in other markets, we have seen the introduction of these programs help improve overall employee health and productivity, and also help corporates better attract and retain their employees, so the benefits go far beyond just providing insurance protection. When employees receive benefits that align with their values and well-being, this boost in well-being translates into higher productivity, resulting in better overall business outcomes. In addition, we have a consistent focus on introducing new programs keeping in mind the changing market dynamics and evolving needs of employees and employers.”
More information about the importance of corporate solutions and how they can transform businesses, are available on the AIA Myanmar website https://www.aia.com.mm/en/our-products/corporate-solutions.html or corporates can reach out to me.corporatesolutions@aia.com for more information.
