Munich Re Automation Solutions Ltd has entered into a significant business relationship with American Family Life Insurance Company, marking a pivotal shift towards cloud-based solutions within the insurance sector.
The essence of this partnership lies in American Family Life Insurance Company’s transition to ALLFINANZ NOVA, a cutting-edge SaaS platform developed by Munich Re Automation Solutions. The platform aims to automate and expedite the life insurance application and underwriting procedures, ultimately enhancing the customer experience. By leveraging this technology, American Family Life Insurance Company is poised to achieve significant improvements in cost control, cycle time reduction, and customer service enhancement.
Munich Re Automation Solutions specialises in offering SaaS solutions that streamline the underwriting process through automated systems, electronic third-party data access, manual underwriting support, and comprehensive analytics. Its clientele, including American Family Life Insurance Company, benefits from the seamless integration of ALLFINANZ NOVA into their existing infrastructure, facilitating a swift and efficient adoption process.
Munich Re Automation Solutions VP of Customer Success Grant Andrew said, “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.”
American Family Life Insurance Company President Todd Fancher said, “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.”
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