Swiss Re extends partnership for linked life insurance coverage underwriting

World reinsurer Swiss Re has prolonged its partnership with enterprise automation specialist Appian for the enlargement of its Related Underwriting Life Workbench answer in choose international locations in Asia-Pacific and Europe, the Center East, and Africa (EMEA).

Launched in North America final yr, the Related Underwriting Life Workbench is built-in with Swiss Re’s Magnum, an automatic life insurance coverage underwriting answer, to speed up the life insurance coverage underwriting course of and enhance productiveness and expertise for underwriters on one system.

Swiss Re famous that conventional underwriting workbenches are missing integration throughout varied techniques, with a typical life underwriter wanted to log into a number of techniques to entry data, conduct threat evaluation, and handle case data.

In the meantime, trendy underwriters desire a single login and system to handle their workload for a number of instances and purchasers.

“Underwriters typically discover themselves juggling data scattered throughout electronic mail inboxes, outdated techniques, and prolonged paperwork. That is very true for all times underwriters, for whom administrative burden can considerably decelerate their capability to precisely assess threat in a well timed method,” Appian world insurance coverage business vp Jacob Sloan stated.

“This answer is particularly useful for insurance coverage firms that need to streamline underwriting processes with threat administration and coverage consistency throughout a number of markets whereas permitting versatile and agile adaptation to native laws,” Sloan stated.

“After a profitable launch in North America final autumn, we’re excited to make this life insurance coverage answer accessible in chosen international locations of APAC and Europe this yr in order that much more prospects who need to enhance the effectivity and high quality of underwriting with modern know-how can profit from it,” Swiss Re head of world life and well being automated options Dylan Rowe (pictured above) added.

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