Cigna Taiwan Life Assurance Company Ltd. (“Cigna Taiwan”) has selected InsurTech firm IXT as its digital insurance core system provider. IXT’s solutions will enable the leading insurer to better meet a growing demand for digital user experiences as well as to bring new insurance products to market faster.
IXT, which is incorporated in Singapore and has presence in Taiwan, Hong Kong, Malaysia and Vietnam will help Cigna Taiwan provide on-demand customer experiences, including instant quotation and digital policy management. The InsurTech’s modern core insurance platform works in parallel with Cigna Taiwan’s existing systems and enables configuration of new products quickly and reduction of operating costs through automation. Cigna Taiwan launched an accident insurance product on its new digital platform, the first under the partnership.
Tim Shields, General Manager and Chief Executive Officer of Cigna Taiwan, said: “This is our first time working with an InsurTech firm, and we’ve chosen IXT as they have a deep understanding of the modern-day consumer’s needs. Cigna Taiwan has knowledge of the local insurance market, while IXT contributes to the partnership its innovative solutions and experiences in other Asian markets.”
“What sets IXT apart from other solutions provider is that its sister company is an established digital insurer. It can draw from its sister company’s experience and apply that to solutions for Cigna Taiwan and other insurance firms in Taiwan,” Mr. Shields added.
“IXT’s core insurance platform adopts a persona-based design to optimize user experiences and integrates seamlessly with existing systems. Our solution helps Cigna Taiwan further its digital transformation by overcoming legacy constraints, shortening product launch cycles, and significantly reducing operating costs. We look forward to further collaboration with Cigna Taiwan in delivering new insurance products for the market,” said Alex Leung, Co-Founder of IXT.