Allianz Life Adopts Munich Re Automation Solutions ALLFINANZ SPARK

The SaaS-based underwriting solution will help launch Allianz Life’s ePHI offering, digitizing the accelerated underwriting  process, improving CX and reducing cycle times.

(Image source: Munich Re Automation Solutions website.)

Allianz Life Insurance Company of North America (Allianz Life) has selected Munich Re Automation Solutions’ (Dublin) cloud-based automated underwriting solution, ALLFINANZ SPARK, to pilot its ePHI offering in North America, helping digitize the accelerated underwriting process and enhance its customer experience, according to a Munich Re Automation Solutions statement. The vendor says Munich Re Automation Solutions’ clients are able to adopt ALLFINANZ SPARK at a reduced cost and cycle time compared to legacy solutions and seamlessly integrate the new platform into their existing systems quickly and efficiently.

Grant Andrew, VP, Customer Success, Munich Re Automation Solutions.

By implementing ALLFINANZ SPARK, Allianz Life will be able to launch a first-in-class offering across the industry, and help it expand access to life insurance to even better support customers across the United States, according to the Munich Re Automation Solutions statement. The vendor says the solution selection extends a broader relationship between Munich Re Automation Solutions and Allianz in a number of countries.

Increasing Access to Life Insurance

“We are delighted to be partnering with Allianz Life to help bring its ePHI offering to the marketplace,” comments Grant Andrew, VP, Customer Success, Munich Re Automation Solutions North America. “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. We are honored 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.”

During the last year, Munich Re Automation Solutions reports that it has expanded its footprint in the United States, and bolstered its resources in the region with new hires across its senior leadership, account management, project management, solution architecture and customer services teams. The vendor says this represents its growing commitment to the region and ensuring all Americans have easy and ready access to life insurance nationwide.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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