The collaboration will bring ALLFINANZ SPARK, a SaaS-based automated underwriting and analytics solution, to the forefront. The joint venture strengthens the existing global relationship between the two entities and underscores their commitment to enhancing the insurance landscape across various countries.
Allianz Life’s pivotal role in launching the ePHI offering will usher in a new era of digitized accelerated underwriting processes, promising an elevated customer experience and reduced cycle times.
Anticipating the launch of a pioneering offering, Allianz Life aims to leverage this partnership to expand access to life insurance, particularly in the United States. The collaboration holds the promise of delivering a first-in-class solution that is poised to better support customers throughout the nation.
Munich Re Automation Solutions clients stand to benefit from the adoption of ALLFINANZ SPARK, enjoying reduced costs and cycle times compared to traditional solutions. The seamless integration of this innovative platform into existing systems is expected to be a swift and efficient process.
Over the past year, Munich Re Automation Solutions has not only expanded its presence in the United States but has also bolstered its resources in the region through strategic hires. These efforts align with the company’s overarching commitment to the region, aiming to ensure that all Americans have convenient and widespread access to life insurance.
Speaking about the launch, Grant Andrew, Vice President, Customer Success at Munich Re Automation Solutions North America, said: “We are delighted to be partnering with Allianz Life to help bring its ePHI offering to the marketplace. Allianz Life wanted to provide a premier customer experience for its American customers and recognized the importance of digitizing and automating its offerings to do so.“
He added: “We are honoured to be partnering with them, ensuring that access to life insurance increases for all Americans. We look forward to working with Allianz Life and supporting it in its ongoing digitization efforts.”
