Kiwi insurer Pinnacle Life wins US innovation award

Auckland-based online life insurance provider Pinnacle Life has won a technology innovation award in the US INNovator Awards, organised by the Insurance Networking News, a publication for the worldwide insurance industry. Pinnacle Life was awarded the 2008 INNovator of the Year award in recognition of its website, www.pinnaclelife.co.nz, which provides electronic underwriting, and offers consumers immediate online life insurance cover.

Pinnacle Life was the only non-US company to make the top twenty list of finalists, which included giants such as AIG, Allianz Life, AON, and Warren Buffet’s company GEICO.

Judges recognised Pinnacle Life as the only finalist whose innovation directly benefited the customer, rather than merely delivering cost savings to the insurance provider.