Munich Re launches underwriting tool for insurers in EU and Latin America

Munich Re Automation Solutions, a provider of automated underwriting and analytics solutions to the life insurance industry, launches of new module Interview Screens for its automated underwriting point of sale solution, SARA (Smart Automated Risk Assessment).

Lightweight and flexible, SARA Interview Screens adopt the visual experience and user interface of the insurer’s own brand, providing applicants with a seamless journey through the underwriting process.

The Interview Screens engage the underwriting engine, guiding question presentation and prompting user interactions.

Initially, as applicants answer a set of interview questions based on their profile, the underwriting engine leverages the predefined SARA rules and questionnaires to determine whether to employ reflexive questions or if an underwriting action should be applied as a result of a disclosure.

Once all questions are answered, a comprehensive summary screen displays all entered information, which reverts to the underwriting engine for final decision-making.

Alby Van Wyk, Chief Commercial Officer at Munich Re Automation Solutions

SARA Interview Screens streamline the initial phase of the insurance application process. The client system now seamlessly transitions to our underwriting engine, which expertly handles the Screens

Alby Van Wyk, Chief Commercial Officer at Munich Re Automation Solutions

“This approach accelerates projects by reducing overall effort and time, making it an ideal solution for customers with time or resource constraints who seek configurable out-of-the-box application interfaces.”

Alberto Abalo CEO Munich Re Life and Health, Southern Europe and Latin America, said: “SARA already gives our clients a profound set of rules for underwriting life and health insurance. It is up to date with the latest medical advances, can underwrite more than 90% of the applications in less than two minutes, while at the same time understanding underwriting data to offer a personalised experience.”

SARA Interview Screens represent a significant leap forward in digital underwriting technology, equipping insurers with a comprehensive, efficient solution for policy application processing.

This offering advances Munich Re Automation Solutions’ mission to reinvent the consumer’s experience of insurance through innovative technology.

Yana Keller   by Yana Keller