Cardif Pinnacle and Intelligent Environments Europe Ltd (IE) have joined forces to provide an integrated systems solution to the banking and financial services sector enabling the provision of short-term income protection (STIP) insurance as an additional module to IE's existing NetFinance product.
IE, part of the Parseq group, and its NetFinance product are already established in the financial services market, delivering a complete online application and online servicing solution. Using a common technical platform, NetFinance can be deployed across multiple channels, brands and financial services products such as cards, savings and loans.
Cardif Pinnacle, a key player in the STIP insurance market, has itself developed a market-leading, multi-channel distribution solution which meets the changing needs of the Creditor Insurance market and the anticipated environment post implementation of the Competition Commission's proposed Payment Protection Insurance (PPI) remedies. This consists of a flexible needs-based Lifestyle Protector product offering (short-term income protection insurance), specialist telephony capability and a compliant-led sales platform.
Cardif Pinnacle and IE will integrate their respective system platforms to create a value, streamlined proposition. It will offer the ability to quote and apply for Lifestyle Protector as part of the NetFinance online application and account self servicing process for the core loan, credit card or other financial product - removing the need to re-key data.
Commenting on the partnership with IE, John Castagno Product Development and Marketing Director of Cardif Pinnacle, said: "We believe there are mutual benefits and synergies to be realised through each company's core competency in the banking and financial services sector and we are looking forward to working closely with IE to further enhance our proposition in a changing Creditor Insurance market".
Jerry Mulle, Sales and Marketing Director for IE, added: "Our NetFinance platform offers a bank secure, highly efficient application process that will complement Cardif Pinnacle's Lifestyle Protector product. This is a new partnership that we are excited to be a part of and will expand our portfolio of offerings, proving that our NetFinance platform is transferable across a range of markets."