Munich Re Automation Solutions Ltd announced today that American Family Life Insurance Company is adopting the company’s cloud-based automated underwriting and analytics solution.
ALLFINANZ NOVA is a SaaS platform to help automate and accelerate the life insurance application and underwriting process and enhance the consumer experience.
Munich Re Automation Solutions offers SaaS solutions for automated underwriting, electronic third-party data access, manual underwriting, and deep insights through analytics. Its clients can adopt ALLFINANZ NOVA and seamlessly integrate the new platform into their existing systems quickly and efficiently.
Grant Andrew, VP of Customer Success at Munich Re Automation Solutions North America, commented on the partnership: “We help our clients differentiate in the market through proven, class-leading solutions focused on enhancing the end-consumer experience of insurance. Our SaaS solutions are future-ready ensuring our clients sustained competitive advantage through continually evolving new features and functions to quickly reap the benefits from the explosion of data. This requires the underwriting rules engine, back-office underwriting, third-party data access and analytical dashboards to be highly flexible and quickly adaptable in the hands of underwriters and other business users.
“We believe we offer the most compelling, proven and future-ready solution in the market, and we’re delighted to be working with American Family Life Insurance Company.”
Todd Fancher, President of American Family Life Insurance Company, said of the deal: “We are always evolving our technology to support our innovative products and provide the best customer service possible. We’re committed to continually researching the most up-to-date technology to ensure we are at the forefront of the newest innovation.”
Munich Re Automation Solutions is continuing to expand its footprint in North America, with new deals and new hires across its senior leadership, account management, project management, solution architecture and customer services teams. This growth demonstrates Munich Re Automation Solutions’ commitment to the region and ensuring all customers have easy and ready access to life insurance.