iExtend hires risk manager

iExtend has recruited Lindsay Stark as senior risk manager to provide guidance on the growing number of individual qualifying policies to be co-owned by iExtend.

Stark brings more than 15 years of life insurance experience spanning technical and managerial roles, including reinsurance and automation.

He joins from Pacific Life Re, where he was director, of underwriting and claims automation, working with life insurers to help them optimise their digital underwriting and claims solutions.

In this role, Stark also supported the delivery of 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, he was at MetLife, where he led and coached underwriters and administrators.

He has held senior underwriting positions at BT Financial Group, TAL Australia and Munich Re.

Reporting to iExtend's head of risk, Ruth Keaney, Lindsay's appointment reflects the firm's commitment to bringing an innovative offer to the market.

"We are thrilled to welcome Lindsay to the iExtend family. His appointment increases our expertise within our risk assessment team," said iExtend's head of risk, Ruth Keaney.

Launched earlier this year, iExtend provides policyholders with an option if they are looking to cancel their policies.

According to iExtend chief executive 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," he said.

"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 who are otherwise committed to cancelling their policies.

"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."