Partnerships are a great way to deliver more value to the client, especially when it comes to automated underwriting systems and platforms. here’s some news from Munich Re and Sun Life;
Munich Re Automation Solutions Ltd announced today that Sun Life Philippines has gone live with its SaaS underwriting solution, ALLFINANZ SPARK, including data analytics modules Insight Origin and Data Exchange.
The agreement not only covers eApplications but also paper applications which will be underwritten by SPARK.
The ALLFINANZ SPARK implementation helps Sun Life Philippines streamline its new business and underwriting process, reduce cycle times to improve the client experience, and address operational inefficiencies through automation.
Using Munich Re Automation Solution’s best-in-class SaaS automated underwriting platform and analytics digital service means Sun Life Philippines can underwrite and implement new products at a lower cost, easily integrate into existing systems, and launch quickly.
Alby van Wyk, Chief Commercial Officer, Munich Re Automation Solutions, said: “We are delighted to partner with Sun Life Philippines which has selected our industry-leading SaaS-solution ALLFINANZ SPARK with Insight Origin and Data Exchange modules. SPARK provides Sun Life Philippines with reduced turn-around-times to settlement, automated underwriting, and real-time underwriting decisions. It will also help improve straight-through processing and the overall customer experience with simplified and streamlined underwriting processes, and AI and predictive underwriting.”
Gaurav Mishra, Chief Operations and Digital Enterprise Officer, Sun Life Philippines said: “Sun Life Philippines is embracing digital innovation to drive growth and better serve our clients. This aligns with our commitment to helping Filipinos achieve lifetime financial security and live healthier lives. The Munich Re Automation Solutions underwriting platform, will enable us to simplify our underwriting and improve straight-through processing to issue policies faster and more efficiently, and improve the onboarding experience of our clients.”
ALLFINANZ SPARK offers a flexible rules engine, enabling clients to modify rules that reflect their individual underwriting philosophy and changing business strategies. It also integrates third-party data for use in real-time in point-of-sale (PoS) underwriting, or in the back-office for manual underwriting.
Equipped with a pre-configured starter underwriting rulebook to accelerate time to market, the easy-to-use Rulebook Designer enables users to customise the solution to their specific underwriting guidelines.
For more information regarding Sun Life Philippines, please visit its official website.
For more information regarding Munich Re Automation Solutions, please visit its official website.
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