The collaboration will improve customer journeys by providing insurers and policyholders with a faster, more seamless life insurance application process.
The integration of INSTANDA’s no-code technology with Swiss Re’s cloud-based Magnum platform creates a unified ecosystem for insurers, allowing for smoother and more efficient policyholder experiences. By automating and streamlining the life insurance application process, the new system will significantly reduce the time required to complete applications, benefiting both insurers and their customers.
Initially, the integrated solution will be available to life insurers in the UK, with a global rollout planned soon after. The collaboration also involved Yovant, a delivery partner that facilitated the rapid and seamless integration of the two technologies.
Will Wood, Director of Life and Health at INSTANDA, said: “This collaboration marks a significant step toward creating a more efficient and seamless experience for both (re)insurers and their customers. We are pleased to see our strategic discussions with Swiss Re come to fruition, delivering meaningful value to the industry.”
Mahender Nagunoori, Chief Digital Officer at Yovant, commented: “We are thrilled to be part of this initiative, which can significantly impact the industry. It’s vital that both technologies work in perfect harmony, and the synergy between INSTANDA and Swiss Re has been clear from the outset.”
Anita Munford, Head of Magnum & L&H Solutions Delivery EMEA at Swiss Re, added: “Embedding Magnum into INSTANDA’s cloud platform is a natural progression for us. We are excited to collaborate in an end-to-end ecosystem that enhances customer experiences and benefits the broader industry with seamless integrations.”
Source: INSTANDA
