Cigna New Zealand doubles adviser commission payments

Cigna New Zealand doubles adviser commission payments | Insurance Business

Cigna New Zealand doubles adviser commission payments

Life insurer Cigna has announced that it will be doubling service commission payments to its insurance advisers for the months of June and July 2020.

Chief executive Gail Costa said the doubled payments are intended to recognise the effort insurance advisers have put into helping their clients over the past several months as the COVID-19 pandemic has unfolded, all while making adjustments to their own businesses.  She says the financial support should help them keep on top of any personal financial difficulty, and will help them carry on assisting their clients as they rebuild their lives.

The announcement was made following the Government’s statement that New Zealanders should continue to have easy access to independent financial advice.

Read more: New business may be low, but clients still need advice

“We’re recognising the additional efforts that our advisers are making to look after their customers during these uncertain times,” Costa said.

“As well as adapting to doing business under restrictions and finding new ways of supporting their customers, many have had to navigate their own financial challenges as a result of COVID-19.”

“We hope this initiative will provide some support for advisers as they rebuild alongside the rest of New Zealand,” she continued.

“Supporting advisers so that they can continue to provide quality advice for their customers has never been more important.”

Last week, Cigna announced a new online quote tool for advisers, along with a series of enhancements to various business product suites.

Read more: Cigna rolls out new quote tool for advisers

Costa says she is pleased with the way Cigna has responded to the ongoing situation, and says this is just the beginning of a series of planned improvements to the adviser and customer journey.

“I think we’ve reacted to this situation really well, and we’ve focused on communication throughout,” she said.

“When you have good communication, you’ll usually get good outcomes. I think everyone has adapted really well, and now it’s all about thinking what the ‘new world’ looks like.”