Leading New Zealand life and health insurer Partners Life have selected the Sentro SaaS solution as their new core group insurance policy administration system.
Partners Life have migrated their group insurance administration from a third-party administrator (TPA) onto the Sentro cloud platform and will administer their group insurance business through their in-house team.
Partners Life CEO Naomi Ballantyne said “We have been looking for a group administration platform that supports our philosophy of tailoring our insurance products to our client’s needs, a vendor that understands us – our business model, our goals - and could work very closely and collaboratively with us. We wanted a long-term partner we can trust and rely on. We’ve found all that in Sentro”.
Head of Affinity for Partners Life Alan Fletcher said “We wanted a group platform that delivers stability and efficiency, while also providing flexibility by allowing us to easily make changes on our own. The Sentro team have been great to work with, and we are really excited about our new capabilities. This will benefit both our clients and adviser partners, as we can tailor group insurance solutions to fit their needs”.
Sentro is a cloud-native, API-centric application platformed on Microsoft Azure. Developed ground up as a ‘group-first’ platform, Sentro allows insurers to configure group insurance products and plans, administer group and plan member policies, and manage complex group and plan member billing. It also enables plan member self-service through an integrated member portal. Sentro is a Microsoft Partner.
Sentro’s Hans Frauenlob said “We are delighted to welcome Partners Life to the Sentro family. We have loved working with the Partners Life team through the implementation. We are excited about helping them realise their aspirations for their group business”.
Partners Life, established by Naomi Ballantyne as a small start-up in 2011, is now the second-largest life and health insurance company in New Zealand. New York-headquartered and listed Blackstone took a minority shareholding in Partners Life in 2016. Partners Life currently insures more than 225,000 lives, has $425.1 million in annual premiums in force and employs 290 staff. Partners Life has an A- (Excellent) financial strength rating from A.M. Best, an approved RBNZ rating agency (with effective date 18 December 2020). For the latest Best’s Credit Rating, please visit www.ambest.com.
Partners Life entered into an agreement to buy the BNZ Life insurance business from BNZ’s Australian parent company NAB for NZ$290 million, in December 2020. The proposed transaction is pending Overseas Investment Office and Reserve Bank of New Zealand approval.
Sentro (www.sentro.co) is headquartered in Auckland, New Zealand with customers and partners in New Zealand, Singapore and Canada.