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Pinnacle Life receives greenlight to provide digital advice

Pinnacle Life is pleased to announce it has received an exemption from the Financial Markets Authority (FMA) to provide digital advice to its customers. This approval puts Pinnacle Life a step closer to delivering its online digital advice platform planned for launch later this year.

General Manager Operations Amy Cavanaugh says the provision of digital advice will extend Pinnacle Life’s existing online service to customers, offering a flexible approach to personalised advice.

“We know our customers are busy people, so we thought about how we could provide advice in a flexible, personalised, easy-to-access way. The new digital advice platform we are developing will enable customers to make informed decisions about insurance through tailored, real-time digital advice, whenever and wherever they want it.

“As the first insurance provider in New Zealand to offer life insurance online, developing innovative solutions to empower our customers is a key part of who we are as a company. The smart, sophisticated software we have created with support from Russell Hutchinson’s team at Chatswood Consulting will allow customers to receive tailored advice on the type and level of insurance they need, specific to their circumstances. The advice will be based on what the customer has identified as being important to them, providing them with confidence in the process and the outcome.”

Reflecting on the company’s innovation culture Cavanaugh says:

“Our team is constantly thinking about how we can push the boat out for the benefit of customers. Very soon we will be able to offer customers a flexible approach to receiving accurate, personalised advice, any time night or day, all from the convenience of their mobile device or computer.”

As well as offering greater convenience, Cavanaugh expects the provision of digital advice will help remove access barriers to insurance in New Zealand.

“For many people, considering life insurance can seem like a daunting task and it’s easy to put it in the ‘too hard basket’. That’s why we wanted to make that first step of getting advice and exploring your insurance needs as simple and efficient as possible.

“The Pinnacle Life team is excited about the opportunity our digital advice platform will offer our customers, and we look forward to launching it later in the year.”

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