Cigna Taiwan Life Assurance Company Ltd. (“Cigna Taiwan”) has selected InsurTech firm OneDegree Global as its digital insurance core system provider. OneDegree Global’s IXT solutions will enable the leading insurer to better meet a growing demand for digital user journeys as well as to bring new products to market faster.
OneDegree Global, which is incorporated in Singapore and has presence in Taipei and Hong Kong, will help Cigna Taiwan provide on-demand customer experiences, including instant quotation and digital policy management. The InsurTech’s modern core system 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 OneDegree Global as they have a deep understanding of the modern-day consumer’s needs. Cigna Taiwan has knowledge of the local insurance market, while OneDegree Global contributes to the partnership its innovative solutions and experiences in other Asian markets.”
“What sets OneDegree Global 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.
“OneDegree Global’s IXT core insurance system adopts a persona-based design 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 products for the market,” said Alex Leung, Co-Founder of OneDegree Global.