Following the purchase of AIG Life in April, Aviva have been working closely together to understand what the integration of the business will look like, with the aim of giving you and your customers certainty on their products open to new business going forward. Aviva is focused on ensuring their customers, intermediaries and brokers benefit from the combined strength, knowledge and expertise they've gained through this acquisition.
AIG Life quotes and new business timeline
For the business that is closing, (as of 20 June 2024), Aviva are giving 8 weeks’ notice that the final submission date for new AIG Life branded quotes for intermediary distributors across both individual and group protection will be 23:59 on 15 August 2024.
The timeline is tabled below for clarity, and Aviva will work alongside you to support your pipeline business.
Customer proposition
Firstly, as they have highlighted through the deal acquisition stage, Aviva is keen to retain several of the attributes of AIG Life’s business, specifically their successful High-Net-Worth channel and strong partnership distribution.
Whilst Aviva do have a High Value proposition, they do not currently offer some of the options available under the AIG Life High-Net-Worth Premier proposition. For those firms that have worked closely with AIG Life in the High-Net-Worth market, Aviva will be retaining the AIG Life High-Net-Worth proposition for them and will contact them separately today.
In addition, Aviva will also be remaining open for the AIG Life existing single-tie partnership relationships and contractual panel commitments. Again, Aviva will contact those firms separately today.
What this means for existing customers
All existing customers can be assured that there is no change to their cover or benefits. Aviva are committed to supporting AIG Life customers in the same way as they've always done. Customers can still benefit from any flexible options in the terms and conditions of their policies.
Next steps You can continue to get in touch with your usual point of contact at AIG Life and Aviva. As they bring the businesses together, some points of contact may change. As part of a smooth integration, they'll continue to communicate any future changes in advance. In the meantime, more information can be found in their FAQs.
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