Acenda forms innovation function to create new insurance propositions

Acenda, created pending the merger of MLC Life Insurance and Resolution Life Australasia, has formed an innovation function led by a Suncorp veteran.

Acenda said the new division will initially focus on supporting the development of new insurance propositions for more Australians.

The function will be headed by Lynton Pipkorn, who spent over a decade at Suncorp, including in roles such as group innovation manager across its banking, wealth, life, and general insurance businesses.

Pipkorn has also recently held roles at non-bank lender OSQO as chief product and distribution officer, and at Firemark Ventures, the venture capital arm of general insurer IAG, as director of emerging technology.

Acenda chief claims and transformation officer Andrew Beevors said the function will support embedding an "innovation mindset" at the insurer, delivering new ways to engage with customers with propositions that make life insurance more accessible.

"We're focused on delivering contemporary propositions and services that meet the individual life insurance needs of millions of Australians, including those who need access to simpler, more affordable means to protect themselves and their loved ones," he said.

He added that Acenda would continue to focus on leadership in individual advised markets and delivering scale in super fund partnerships, but also recognised the importance of "how we engage with existing as well as new customers."

"Our new dedicated innovation function will ensure that we foster a culture of innovation to identify and integrate meaningful customer propositions. We want to ensure our products and services continue to deliver for Australians as their needs evolve," he said.