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Aug 2020

Product Bites

Source: Asia Insurance Review | Aug 2019

AXA Hong Kong offers protection against cancer
AXA Hong Kong has announced the launch of the CritiPartner Plus Critical Illness Plan which highlights a no waiting period required for stage three or four cancer patients.
In addition to paying 100% of the sum insured in a lump sum, the patients will receive immediate and continuous monthly pay-outs for up to 5.5 years. The total cancer coverage is up to 425% of the sum insured, ensuring them financial support in their battle against cancer.
Additionally, the plan enhances support for children with diseases related to congenital conditions undetected at the time of policy application.
It also supports caregivers by providing monthly pay-outs as financial assistance for families that need to take time away from work to provide care for an insured child.
Other upgraded benefits include the protection of minor illnesses related to chronic diseases, and allow multiple claims for 59 major illnesses, such as heart attack and stroke and many others, providing customers with more all-round protection for the insured person up to the age of 85.

Telehealth innovation to improve access to healthcare for Singapore customers
Cigna Singapore recently unveiled Cigna Virtual Clinic, a digital innovation that provides customers with access to Singapore-registered doctors through a mobile application powered by Doctor Anywhere, a tech-led health and wellness company.
This initiative will significantly change the way patients consult doctors, reducing the time typically spent travelling and waiting by providing convenient access to consultations and appointment booking.
It also incorporates delivery services that bring medication to the doorstep of patients within three hours of their virtual appointment.

Aon launches cyber risk management solution in Australia
Aon has launched a dynamic cyber risk management analytical portal, Cyber Quotient Evaluation (CyQu). This latest solution by Aon will empower Australian enterprises to understand areas of vulnerability better, build a framework to strengthen and protect their organisation, and focus cyber security investments.
CyQu is a software-driven assessment tool designed to evaluate an enterprise’s cyber security profile. It identifies vulnerabilities by helping business leaders to understand how their cyber risk posture measures up across critical control domains such as data, network, physical and application security and third party and business resilience.
The software benchmarks cyber resilience against industry targets and peers, streamlines and facilitates risk transfer and develops a data-driven cyber risk management strategy. It enables business of all sizes to protect themselves from potential ransomware and other malware-related threats.

AXA to help Singaporeans achieve their long-term financial goals
AXA Insurance (AXA) has launched AXA Wealth Accelerate, a guaranteed issuance investment-linked plan that is designed to help individuals meet their financial goals across various life stages.
The plan offers three bonuses: 
  1. A short term ‘start-up bonus’ over first five years of up to 200% of first year premium to kick start their investment.
  2. A medium term ‘power-up bonus’ of up to 1.3% p.a. of account value from policy year 15 until end of their chosen minimum investment period (MIP) to boost their returns further.
  3. A long term ‘loyalty bonus’ of 1.1% of account value from the end of MIP onwards to compound their wealth accumulation.
Apart from supporting investment needs, the plan also provides essential coverage against death and terminal illnesses with no insurance charges. In the event the life assured passes away before the policy anniversary nearest to their 66th birthday, the beneficiary will receive 116% of total account value. 
The plan also empowers customers to continue their wealth accumulation plans even after they have passed on. It offers a life replacement option that allows the policyholder to change the life assured to their spouse, or child below 18 years old as a way to leave their legacy for the next generation. A 
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