Some information about Allianz
What this will mean for our members
- Virtual Healthcare
- SecuriTT
- Mercy Fund
- Member Assistance Program
- No Claims Bonus
- TT Gives Back
- Referral Bonus
- RightNow Media
When will the transition take place?
We will begin transitioning new policies as of 1 November 2022. Policies that renew on or after 1 November 2022 will transition at their renewal date.
Why did this change happen?
In 2018 Aetna was bought by CVS, the largest pharmacy chain in the United States. CVS does not operate outside of North America. Although Aetna had over 1 million international members, this only made up less than half a percent of CVS’s revenue. They thus decided that the international market was not strategically significant for their growth and looked for ways to exit the international market.
Did Talent Trust look at other options?
Yes, we entered negotiations with several other well-known insurers, but none could match or beat what Allianz offered.
Will my renewal date change?
For a small number of members, we will be shifting renewal dates slightly. This will mean that this year these members will have a slightly shorter renewal year which will renew on the first of that month next year. Any affected members will have a correspondingly cheaper policy in line with the reduction in the number of days.
Will my premium increase?
No, some premiums will actually go down.
Will the policy benefits change?
There will be no material changes to the actual benefits you receive. We will be changing some of the policy wording definitions to come in line with Allianz’s terms; however, your policy will not change in any noticeable way.
Will the claims process change?
The claims process will remain the same. We had a good claims experience with Aetna, and Allianz informed us they will be able to surpass this as they utilize Artificial Intelligence, which in some cases will mean instant claims processing.
I have an ongoing claim with Aetna, what will happen with that?
If you have any ongoing claim with Aetna, any treatment within your current insured year will be handled by Aetna until your renewal. Any treatment after your renewal will be handled by Allianz.
Note: Allianz will not have previous claims data, due to information privacy. There may be instances where you have met a policy excess for a condition, which may mean Allianz does not initially reimburse you for this. We will be able to inform Allianz in most cases, but please note that there may be a few instances where the processing of claims like this may take slightly longer than normal.
Will there be any changes to the No Claims Bonus?
No
Will I get a new Allianz insurance card?
Initially, we will be sending out soft-copy virtual cards to members, but working with Allianz to get our members cards over the next few months.
How can I find out more?
If you would like to speak to one of our team, we are genuinely excited by the possibilities of this change and see this as a positive step; we would welcome the opportunity to discuss any questions that you may have.
