(Image source: OneDegree Global IXT website.)
Cigna Taiwan Life Assurance Company Ltd. (Taipei) has selected InsurTech firm OneDegree Global as its digital insurance core insurance system provider. With OneDegree Global’s IXT solutions, Cigna Taiwan will be better able to meet a growing demand for digital user journeys as well as to bring new products to market faster, according to a vendor statement.
OneDegree Global, based in Singapore and with a presence in Taipei and Hong Kong, will help Cigna Taiwan provide on-demand customer experiences, including instant quoting and digital policy management. OneDegree Global says its 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 has launched an accident insurance product on its new digital platform, the first under the partnership.
“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,” comments Tim Shields, General Manager and CEO, Cigna Taiwan. “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 [of the same name] is an established digital insurer,” Shields adds. “It can draw from its sister company’s experience and apply that to solutions for Cigna Taiwan and other insurance firms in Taiwan.”
“OneDegree Global’s IXT core insurance system adopts a persona-based design and integrates seamlessly with existing systems,” comments Alex Leung, Co-Founder, OneDegree Global. “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.”