Creating Better Health Outcomes Through Innovation

  • Minister for Economic Development

One of the world’s largest life insurance companies is expanding its footprint in Victoria in a move that will create 100 jobs and boost community wellbeing and mental health.

AIA Australia is building an Innovation Lab at their existing HQ in Melbourne, where digital experts and collaborators will explore artificial intelligence, data science and machine learning, as well as research on wellbeing and mental health.

The hub – featuring nine learning rooms and accommodating up to 250 people – will be accessible to clients, university partners and research organisations working on health prevention and community health projects.

AIA Australia is already developing an incentive-based mental wellbeing program and doing research on the early indicators of depression.

The investment by AIA Australia is a boost to Victoria’s thriving financial and technology sectors, which collectively employ more than 260,000 people and generate $76 billion each year.

Melbourne is Australia’s leading tech city, as confirmed by the Savills Research Tech Cities in Motion global report released earlier this year.

Recently, Melbourne was also ranked Australia’s most innovative city – and one of the most innovative cities in the Asia Pacific – in the 2thinknow’s Innovation Cities Index for 2019.

As stated by Minister for Economic Development Tim Pallas

“We are proud to back this investment by one of the world’s largest life insurance companies, which will strengthen our innovation and health sectors and draw on our world-renowned tech capabilities.”

“The establishment of the Innovation Lab will ensure the company can continue to foster strong connections with leading organisations to deliver better outcomes in areas such as mental health.”

As noted by AIA Australia and New Zealand CEO Damien Mu

“We’re honoured to have the support of the Victorian Government and look forward to the opportunities ahead – including partnerships with universities, research and health-tech organisations in Victoria – which will enable us to make a difference in people’s lives.”

/Public Release. View in full here.