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Last Article Uploaded: Monday, January 24th, 1:30PM

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Cigna to rebrand as Chubb

It's been a big year of change at Cigna New Zealand and 2022 will be even bigger with an upcoming rebrand, the launch of a new advertising campaign, and changes to its income and mortgage protection covers.

Thursday, December 2nd 2021, 12:07PM 2 Comments

by Matthew Martin

Gail Costa and David Haak.

Cigna NZ chief executive Gail Costa announced the upcoming rebrand during a recent Cigna Live webinar saying 2021 had been a remarkable year for Cigna, especially in terms of growth, that Costa says is due to their strong connection with advisers.

The biggest news for Cigna New Zealand was the October sale of the Cigna brand to the international insurer Chubb, which Costa says has a strong commitment to advisers.

"Right now we are going through a 'lift and shift', a name change, you'll still be dealing with the same people, us, and you'll still have the same previous Cigna team supporting you."

She says the management team spoke with Chubb International chief executive Evan Greenburg who reassured her that they like the New Zealand market and the growth they are delivering.

Costa says new tech tools have been added over the year and its brand awareness campaign has positioned the company as a "full-blown insurer" as opposed to a funeral plan company, "which is exactly what we wanted to achieve".

She says they have spent a lot of time and effort expanding their business development network, particularly in the South Island, and the company is on target to obtain its full Class Three Financial Advice Provider license by June 2022.

Cigna NZ's chief operating officer Debbie Eyre says underwriting enhancements have allowed the company to increase acceptance of its agreed value income and mortgage protection cover (or a combination of both) to conditionally accept up to $6000 a month with financial evidence, getting cover issued the same day.

Simon Tohill, head of strategy and marketing, says their advertising campaign has been highly successful in reaching "a really important purchasing group" of 25 to 54-year-old New Zealanders who are at the stage in their lives where insurance becomes important.

Tohill says in the next few months Cigna will be launching the next phase of its "Insurance for Living" campaign with the key message being "good advice equals better insurance", along with a new adviser campaign to be launched before the new year.

Tohill says their key strategies are focused on advisers, technology and a world-class retention team to support advisers and their customers.

Tags: Chubb Cigna Gail Costa Life insurance Simon Tohill

« Premiums refunded after funeral cover exceeds sum insuredPartners Life set to increase premiums »

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Comments from our readers

On 10 December 2021 at 11:19 am From the Benchs said:
Not a great move considering the CIGNA Brand is gaining some momentum in the market .
On 11 December 2021 at 2:55 pm p simone said:
Good point benches and yes CIGNA seem to have momentum in NZ.

However there was probably no other option and it was likely contractual. CIGNA are selling the business and possibly not the brand. Given CIGNA will continue to operate in other countries they are unlikely to want to have a NZ business they no longer own use the CIGNA name.

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