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Last Article Uploaded: Monday, January 24th, 12:13PM

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Cigna helps advisers meet regulation requirements

Cigna New Zealand has released the first of a series of improvements to help independent financial advisers stay on top of their regulatory obligations.

Wednesday, December 8th 2021, 6:29AM

Jeremy Valentine.

From yesterday, a new ‘My profile’ tool has been available on Cigna’s Adviser Hub website that will help advisers who partner with Cigna to keep up with and meet their obligations outlined in Cigna's distribution agreement - Cigna’s Standards of Ethics and Conduct - and for the Financial Services Legislation Amendment Act (FSLAA) 2019.

Cigna general counsel and chief risk officer Jeremy Valentine says Cigna has invested in making the compliance process as simple as possible as part of its commitment to building long-term relationships with advisers.

“Together we both have a role to play to build trust in our industry and ensure we’re continuing to provide New Zealanders with good outcomes.

“Advisers will soon be able to submit new annual declarations and complete online product training courses through the tool to keep up with accreditation requirements and ensure we can continue working together to protect New Zealanders,” he says.

The new tool includes the 'My Score Card' feature - a traffic light indicator from which an adviser can check their status against the requirements at a glance.

“Our team have worked hard behind the scenes to provide a clear and easy way for advisers to check that they are continuing to meet their obligations,” says Cigna's distribution general manager David Haak.

“With My Score Card, advisers will be able to see not only their requirements to continue partnering with Cigna but also their status on the Financial Service Provider Register (FSPR).

"If anything is outstanding, the steps to meet these will be clearly outlined, enabling them to quickly act.

“Put simply, if the light is green next to a requirement you’re good to go. If the light is orange or red, we’ll let you know exactly what you need to do to get back on track,” Haak says.

“Advisers will receive an email as soon as any training courses or declarations are required to be completed,” he says.

Cigna's business partnership managers will also be able to support advisers to stay on top of any requirements.

Tags: Cigna FSLAA Insurance Advisers regulation

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