Gail Costa
Gail Costa
It said it was the first of a series of planned improvements for the independent financial advice market.
“We’ve worked alongside advisers to build a new quote tool that not only meets their requirements but also streamlines their day-to-day processes so quoting is simple, fast and intuitive,” said Cigna New Zealand chief executive Gail Costa.
By integrating the tool with Cigna’s policy administration system, advisers can quote in real-time for Cigna’s most current products and pricing. The tool can also quote for both Cigna’s personal and business products at the same time.
“We hope the new quote tool will support advisers by reducing the amount of time spent on admin and allowing them to spend more time with their customers,” Costa said.
Cigna has also released enhancements to its Assurance Extra, Business Assurance, Business Extra, and Agribusiness Extra product suites and the launch of the Assurance Extra policy document in WriteMark-certified plain English.
The enhancements include new level term premium options for Assurance Extra life cover, trauma cover and complete disablement cover, refreshed rates on life cover and trauma cover pricing, an advanced terminal illness benefit allowing customers to claim for an acceleration of their Assurance Extra Life Cover and Life Income Cover to provide financial assistance for any immediate expenses as a result of diagnosis and improved melanoma cancer definition, reducing the requirement from 1.5mm to 1.0mm based on a histological examination using the Breslow method.
Costa said these enhancements provided greater certainty of affordability for customers and reflect Cigna’s commitment to providing excellent products and service.
The new quote tool and all enhancements are available now. All enhancements will be passed-back to eligible in-force policies with effect from May 11. The new rates will be applied to existing Assurance Extra, Business Assurance, Business Extra, and Agribusiness Extra customers at their next premium review date.
“At a time when many New Zealanders are reviewing their insurance needs, it’s vital that advisers are able to continue providing tailored, personal advice to deliver good outcomes for customers. It’s important that as insurers, we’re there to support them with the best tools to do so. We look forward to continuing to work closely with advisers so we can collectively look out for our customers and meet their needs,” Costa said.
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