Swiss Re extends partnership for connected life insurance underwriting

Swiss Re extends partnership for connected life insurance underwriting | Insurance Business New Zealand

Reinsurance

Swiss Re extends partnership for connected life insurance underwriting

Initiative brings reinsurer’s automated solution to several regions

Reinsurance

By
Kenneth Araullo

Global reinsurer Swiss Re has extended its partnership with business automation specialist Appian for the expansion of its Connected Underwriting Life Workbench solution in select countries in Asia-Pacific and Europe, the Middle East, and Africa (EMEA).

Launched in North America last year, the Connected Underwriting Life Workbench is integrated with Swiss Re’s Magnum, an automated life insurance underwriting solution, to accelerate the life insurance underwriting process and improve productivity and experience for underwriters on one system.

Swiss Re noted that traditional underwriting workbenches are lacking integration across various systems, with a typical life underwriter needed to log into multiple systems to access information, conduct risk analysis, and manage case information.

Meanwhile, modern underwriters want a single login and system to manage their workload for multiple cases and clients.

“Underwriters often find themselves juggling information scattered across email inboxes, outdated systems, and lengthy documents. This is especially true for life underwriters, for whom administrative burden can significantly slow down their ability to accurately assess risk in a timely manner,” Appian global insurance industry vice president Jacob Sloan said.

“This solution is especially helpful for insurance companies that want to streamline underwriting processes with risk management and policy consistency across multiple markets while allowing flexible and agile adaptation to local regulations,” Sloan said.

“After a successful launch in North America last autumn, we are excited to make this life insurance solution available in selected countries of APAC and Europe this year so that even more customers who want to improve the efficiency and quality of underwriting with innovative technology can benefit from it,” Swiss Re head of global life and health automated solutions Dylan Rowe (pictured above) added.

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