American Family Life Adopts Munich Re Automation Solutions

Fortune 300 insurance company transitions to SaaS solution to help control costs, reduce cycle times, and boost customer experience

(Image source: American Family/YouTube.)

American Family Life Insurance Company (Madison, Wisc.) is adopting the Munich Re Automation Solutions’ (Dublin) cloud-based automated underwriting and analytics solution, according to a statement from the vendor.

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

Munich Re Automation Solutions characterizes ALLFINANZ NOVA as a SaaS platform to help automate and accelerate the life insurance application and underwriting process and enhance the consumer experience. Munich Re Automation Solutions reports that it offers SaaS solutions for automated underwriting, electronic third-party data access, manual underwriting, and deep insights through analytics. Its clients can adopt ALLFINANZ NOVA and seamlessly integrate the new platform into their existing systems quickly and efficiently.

“We help our clients differentiate in the market through proven, class-leading solutions focused on enhancing the end-consumer experience of insurance,” comments Grant Andrew, VP, Customer Success, North America, Munich Re Automation Solutions. “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. 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.

Evolving Technology to Support Innovative Products

Todd Fancher, President, American Family Life Insurance Company.

“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,” comments Todd Fancher, President, American Family Life Insurance Company. “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.”

Munich Re Automation Solutions says that it is continuing to expand its footprint in North America, with new deals and new hires across its senior leadership, account management, project management, solution architecture and customer services teams. The vendor says its growth demonstrates Munich Re Automation Solutions’ commitment to the region and ensuring all customers have easy and ready access to life insurance.

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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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