HCF Life has launched a new life insurance offering in collaboration with insurtech UnderwriteMe.
Life Protect Insurance leverages on the insurtech’s technology, data and analytics to provide customised solutions that take into consideration factors such as lifestyle and medical history.
It replaces the Smart Term Insurance product and marks the first time that HCF has worked with the insurtech to launch a life insurance solution.
“At HCF our ambition is to design and develop affordable and comprehensive insurance solutions,” Chief Officer Product and Diversified Business Lorraine Thomas said.
UnderwriteMe says the partnership with HCF is its sixth with a life insurance provider in the Australian and New Zealand markets.
“We are thrilled to see HCF Life embrace the digital mindset to put customers’ needs first,” Head of Asia Pacific Paul Hughes said.
“This has enabled both teams to collaborate closely as we embark on this transformative journey to use automation, data and analytics to make insurance more accessible.”
UnderwriteMe is part of reinsurer Pacific Life Re, which established its Australian office in 2015.