It won’t be long now before Cigna New Zealand sheds its name as it continues to be integrated into Chubb Life, whose chief operating officer Brad Bennett (pictured above) has offered assurances to advisers that they will remain supported throughout the process.
In a message to advisers seen by Insurance Business, Bennett declared: “We’re hugely excited about bringing New Zealand into the Chubb family and are busy planning for the future. [2022] has been a year of growth and improved market position for our New Zealand business, something we should all be very proud of, especially with all the challenges brought on by the global pandemic.
“Through it all, our balance sheet remains strong and with your partnership our customers have been able to enjoy peace of mind knowing we will be there when they need us. It is rewarding to be supporting New Zealanders during their most difficult times.”
The Chubb Life COO and Chubb Group senior vice president, who is in charge of leading the day-to-day operations of Chubb Life’s insurance entities in seven countries and territories in Asia, visited New Zealand twice last year.
He has since told advisers in NZ: “We’re delighted to be working with you all, as well as the team on the ground who have a deep understanding of the life insurance market, and the experience to build Chubb Life’s presence in the New Zealand market.
“A significant amount of work is going on behind the scenes to bring Cigna into the Chubb world, and we’re committed to supporting you through the transition. Our intent is to leverage the best from both entities as we become one.”
It was previously noted that the Kiwi insurer’s rebrand would take place this year.
Also a board director at Cigna NZ, Bennett went on to say in his message: “Operating standards that you have come to expect as well as a restless edge to drive innovations and efficiencies that will enhance our service offering for you and your customers is paramount to us.”
Meanwhile Cigna New Zealand chief executive Gail Costa (pictured immediately above) thanked advisers for their support while highlighting the role they play in helping protect Kiwis through quality independent financial advice.
“As a result of your input, we’ve continued to make product enhancements,” noted the CEO. “This has resulted in consistent improvements in our product ratings across the board. Your feedback was instrumental in the decision to increase our non-medical limits and also other improvements to our underwriting capability…
“You’ve also told us how our multiple marketing campaigns with digital toolkits have really helped spark those important customer conversations. Making it easy to do business with us is a priority, and we’re committed to keep innovating in a way that supports your sustainable business growth in 2023.”
As for the ongoing Chubb Life integration, Costa is happy to have met with global leaders from the wider group.
“We’re excited to see such strong commitment from our international colleagues to growing the life insurance business here in New Zealand and achieving our goal of protecting more New Zealanders,” she said.
Costa also told advisers: “Your support and contribution has lifted us to the number two position in market for new business. And while there are economic headwinds forecast that may bring challenges to us all, you can rest assured we’ve been working behind the scenes to plan ahead so we can continue to provide new opportunities for you and your customers.”
Cigna New Zealand came under Chubb ownership in July 2022.
