iExtend has appointed Lindsay Stark as Senior Risk Manager to provide support and expert guidance on the growing number of individual qualifying policies to be co-owned by iExtend.
Lindsay brings an extensive range of skills to the role, with more than 15 years of life insurance experience spanning technical and managerial roles, including reinsurance and automation.
He joined iExtend from Pacific Life Re, where he was Director, Underwriting and Claims Automation, working with life insurers to help them optimise their digital underwriting and claims solutions to realise straight-through processing and operational efficiency gains.
In this role, Lindsay also supported the delivery of UnderwriteMe, Pacific Life Re’s underwriting proposition, which included developing and maintaining proprietary underwriting and claims algorithmic rule sets, product R&D, new technology uptake, and client support.
Before this, Lindsay was at MetLife, where he led and coached underwriters and administrators in delivering a high-quality underwriting value proposition. He has held senior underwriting positions at BT Financial Group, TAL Australia and Munich Re and is an Associate Fellow Certified Professional Life Insurance with ALUCA.
Reporting to iExtend’s Head of Risk, Ruth Keaney, Lindsay’s appointment reflects iExtend’s commitment to bringing an innovative and leading-edge offer to the market.
“We are thrilled to welcome Lindsay to the iExtend family. His appointment increases our expertise within our risk assessment team.”
Launched earlier this year, iExtend has been welcomed by the market, with advisers, licensees and insurance providers approaching the iExtend offer as another engagement tool with policyholders where they are looking to cancel their policies.
According to iExtend CEO David Sarkis, rising premiums and increases in the cost of living are motivating policyholders to initiate conversations with their financial advisers about the future of their policies.
“In the current market, the iExtend offer provides advisers with another option to present to their clients if they are looking to cancel their policy, one which could enable them to enter a co-owning agreement with us which will eliminate future premium payments from the proportion of the policy that was to be cancelled.”
iExtend has been engaging with the advice industry, attending conferences, Professional Development days and Industry Roundtables to discuss the future of the life insurance industry and how its offer fits into the market.
“The advice industry has responded to the strength of our offer as well as its attention to detail and commitment to delivery, including aspects around how we work with vulnerable individuals that are otherwise committed to cancelling their policies,” said Sarkis. “We are very excited to be growing our team and working collaboratively with the industry on solutions that we believe are good for policyholders, financial advisers and insurers.”
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