The Memorandum of Understanding signed by both parties aims to provide greater access to healthcare services and co-create innovative solutions to drive quality of care and ensure patient outcomes.
SINGAPORE - Media OutReach Newswire - 23 January 2025 - AIA Singapore and Raffles Hospital today signed a Memorandum of Understanding (MoU) to jointly pursue key initiatives, which will enhance Singapore Residents' access to quality healthcare services at Raffles Hospital.
Signed today by Irma Hadikusuma, Chief Marketing and Healthcare Officer of AIA Singapore and Dr Kenneth Wu, Chief Operating Officer of Singapore Healthcare, Raffles Medical Group, the collaboration between a leading life insurance and a leading healthcare provider will kickstart with three key initiatives:
- Including more than 90 additional private specialist doctors from Raffles Hospital as AIA Quality Healthcare Partners (AQHP), AIA Singapore's specially curated panel of doctors for AIA HealthShield Gold Max customers. This will extend AIA Singapore's network of private panel doctors to close to 700 medical specialists, among the most comprehensive panel networks available to Integrated Shield Plan (IP) policyholders in Singapore.
- Co-creating innovative healthcare solutions that drive quality of care and ensure patient outcomes, this includes sharing of quality indicators and patient outcomes as both parties work towards value-based healthcare.
- Jointly managing hospitalisation bills for AIA policyholders ensuring close alignment of hospital bills with the fee benchmarks outlined by the Ministry of Health (MOH)[1].
Irma Hadikusuma, Chief Marketing and Healthcare Officer of AIA Singapore, said, "As Singapore's population ages and demand for healthcare services increases, our priority remains to ensure that AIA policyholders continue to get prompt access to meet their medical and hospitalisation needs. AIA Singapore's partnership with Raffles Hospital will not only provide more options to our policyholders, but it will also allow us to leverage data analytics to further inform how we design solutions to best meet the needs of Singapore Residents. We are also confident that this collaboration will help to ensure the financial sustainability of our Integrated Shield Plan business and manage long-term healthcare inflation through value-driven care."
This partnership is one of numerous efforts by AIA Singapore to enhance health support for policyholders. In November 2024, AIA Singapore announced that all AIA insured members of AIA personal policies would get access to on-demand teleconsultations as well as mental wellness services, pediatric care, and home health screenings[2].
AIA Singapore also announced substantial enhancements to its corporate insurance policies from 2025, including a first-in-market feature of expanded inpatient coverage for mental health care alongside other enhanced benefits to provide more accessible and inclusive support for its corporate customers, at no additional premiums. Announced in October 2024[3], this enhancement will benefit more than 1.3 million employees in Singapore, accounting for more than 1 in 5 of Singapore's overall population[4].
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About AIA
AIA Group Limited and its subsidiaries (collectively "AIA" or the "Group") comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR[1], Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, New Zealand, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei and Macau SAR[2], and a 49 per cent joint venture in India. In addition, AIA has a 24.99 per cent shareholding in China Post Life Insurance Co., Ltd.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$289 billion as of 30 June 2024.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 42 million individual policies and 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock codes "1299" for HKD counter and "81299" for RMB counter with American Depositary Receipts (Level 1) traded on the over-the-counter market under the ticker symbol "AAGIY".
source: AIA Singapore
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