The Future of Underwriting

Life insurance used to be about managing risk. Those were the good old days. Now you also need to worry about selling through multiple sales channels and delivering superb customer service, while achieving new levels of efficiency and profitability. Competition is fierce, so speed and accuracy are everything. Customers and advisors are demanding faster underwriting decisions and higher levels of service. Traditional paper-based application and underwriting processes are heading for extinction.

Automated underwriting is a software solution which allows you to use a comprehensive set of underwriting rules to help make instant decisions on life insurance applications. Underwriting is a complex process, with the wealth of expertise and experience you are able to draw upon having a very measurable impact on risk management and profitability.

The Automation Solutions division of Munich Re is the market-leading vendor of underwriting solutions for the global life insurance industry. The company's Allfinanz family of automated underwriting solutions streamline and automate life insurance underwriting processes. We have already helped many of the world’s largest life insurance companies improve their business.

Underwriting Decisions at the Point of Sale

The Allfinanz Interview Server is designed to seamlessly integrate into an insurer’s Point of Sale (POS) solution. It gathers risk assessment information from the applicant and provides an underwriting outcome, giving the ability to instantly issue a policy. Designed to allow insurers to ask only relevant questions when absolutely necessary for an underwriting decision, Allfinanz Interview Server provides a fast, simple method to do risk assessment, through an agent portal, a telephone interview, direct over the internet,  or through any other channel.

» Learn more about Allfinanz Interview Server.

Automating the Back Office

Where insurers have deeply embedded paper processing processes there may not be the opportunity to move to a POS solution. Munich Re's Allfinanz Decision Server allows insurers keep their existing paper processes and apply automated underwriting to increase efficiency and consistency.

» Learn more about Allfinanz Decision Server.

Underwriters controlling Underwriting Rules

Older generations of automated underwriting systems required programmers or specialists to create and maintain the rules. Munich Re's Automation Solutions division has always had a philosophy of empowering underwriters to design, create, maintain, manage, and control underwriting rules at all stages of their life-cycle. The Allfinanz Rules Designer is a graphical rules design tool that any business user with minimal training will feel comfortable using, to create rules for Allfinanz Interview Server or Allfinanz Decision Server. Its tree structure view of rules allows underwriters to ‘see and understand’ how a rule will behave without having to understand the intricacies of software programming logic. Being simple to use does not mean it is limited in power or sophistication. Allfinanz Rules Designer can create rules that model any underwriting outcome, from simple ratings, medical referrals or exclusions to rules for complex combinations of disclosures.

» Learn more about Allfinanz Rules Designer.