The Software as a Service (SaaS) platform is designed to streamline and expedite the life insurance application process. Key features of ALLFINANZ NOVA include automated underwriting, electronic access to third-party data, manual underwriting capabilities, and advanced analytics functionalities.
Speaking about the partnership, Grant Andrew, VP of Customer Success at Munich Re Automation Solutions North America, said: “We help our clients differentiate in the market through proven, class-leading solutions focused on enhancing the end-consumer experience of insurance. Our SaaS solutions are future-ready ensuring our clients sustained competitive advantage through continually evolving new features and functions to quickly reap the benefits from the explosion of data.”
He continued: “This requires the underwriting rules engine, back-office underwriting, third-party data access and analytical dashboards to be highly flexible and quickly adaptable in the hands of underwriters and other business users. We believe we offer the most compelling, proven and future-ready solution in the market, and we’re delighted to be working with American Family Life Insurance Company.”
Todd Fancher, President of American Family Life Insurance Company added: “We are always evolving our technology to support our innovative products and provide the best customer service possible. We’re committed to continually researching the most up-to-date technology to ensure we are at the forefront of the newest innovation.”
