December 3, 2018
UnderwriteMe launches in New Zealand with Cigna Life Insurance, powered by Pacific Life Re
UnderwriteMe’s Underwriting Rules Engine (URE), powered by Pacific Life Re, has launched to the New Zealand market. Cigna Life Insurance is the first New Zealand based insurer to adopt the market-leading technology, to help deliver higher straight-through acceptance rates for their customers and simplify the sales journey for advisors.
UnderwriteMe’s expansion into the New Zealand market follows a very successful year of implementations of the URE in Australia. In a highly competitive market, the UnderwriteMe technology has already been adopted by a number of major Australian life insurers who have opted to transform their underwriting process and systems. As a result, insurers have been able to make the process of purchasing life insurance simpler, faster and more cost effective for their customers.
Managing Director of Pacific Life Re Australia, Andrew Gill, said, “We are excited to celebrate our first UnderwriteMe partnership in New Zealand. Cigna’s commitment to provide its customers a clear and easy to understand application and underwriting processes very much aligns with our own values, and we are proud to help them bring this technology to New Zealand.”
UnderwriteMe’s Director of Business Development, Asia & Australia, Rakesh Kaul, said, “We are looking forward to working closely with, and contributing to, Cigna’s future success. As the first insurer implementing UnderwriteMe’s technology in New Zealand, Cigna has demonstrated its commitment to improving the experience for their customers and striding ahead in technology leadership.”
Gail Costa, Chief Executive of Cigna New Zealand, said, “UnderwriteMe will give Cigna a strong foundation to support future diversification of distribution channels, including independent financial advisors and insurance advisors, and development of products to meet more of New Zealand’s insurance needs.”