Appian Launches Connected Underwriting for Life Insurance

Created in Partnership with Swiss Re, the new workbench enables holistic underwriting automation and workload management.

(Image source: Appian.)

Appian (Reston, Va.) has announced the availability of the Connected Underwriting Life Workbench, designed to help insurers unify workflows and data in an automated, end-to-end process. The solution seeks to make underwriters’ lives easier by giving them a single interface to evaluate and classify risk, handle exceptions, and make case decisions, an Appian statement says.

Jacob Sloan, VP, Global Insurance, Appian.

The vendor describes the Connected Underwriting Life Workbench as a streamlined underwriting solution prebuilt on the Appian Platform. The vendor says it is designed to drive speed-to-market with reduced IT effort for implementation. The solution’s data fabric capabilities enable quick data and integration connectivity, coupled with AI-led automation that supports change management and optimized processes, according to the vendor.

Appian notes that its AI architecture, which includes generative AI capabilities, allows insurers to process content at scale and automate repetitive tasks, such as classifying emails and extracting data from documents. This allows the vendor’s customers to facilitate faster benefit realization and enhance their competitiveness with a better underwriting experience. Life Workbench improves the quality, consistency and procedural adherence of cases, according to Appia. Additionally, the system allows 24/7 real-time monitoring and data extraction from various sources, seamless integration with third-party tools, and augmented decision-making with a complete audit trail, the Appian statement says.

Life Workbench offers a prebuilt integration with Swiss Re’s (Zurich)  Magnum Pure, a widely used automated underwriting solution powered by Swiss Re’s Life Guide. This integration helps underwriters to overcome the complexities of multiple systems used to underwrite a case by bringing together all the relevant data, images, and human system interactions, the vendor says. The advantage, according to Appian, is that underwriters can better evaluate and classify risk, handle exceptions, and make critical case decisions rather than focusing on the procedural and administrative steps, transactions, and keystrokes.

This partnership between the two entities combines Appian’s expertise in AI, automation, data fabric, and case management with Swiss Re’s automated underwriting engine, Magnum Pure, to simplify the underwriting process, the Appian statement says. The Swiss Re Magnum Pure solution must be purchased separately from the Appian Platform to enable the integration.

Appian describes the key benefits of Appian Connected Underwriting Life Workbench as follows:

Easier, more complete access to data. With Appian and Swiss Re’s Magnum Pure, underwriters have access to a best-in-class underwriting experience that provides a comprehensive, single-pane-of-glass view by surfacing relevant data from dispersed systems.

More efficient exception handling. Case management capabilities allow underwriters to spend less time collecting information and reduce the time it takes to handle exceptions, minimizing and in some cases eliminating manual processes and paperwork.

Process monitoring and optimization. Dashboards and KPIs help individuals, teams, and managers monitor underwriting processes and provide valuable insights about performance that can be used to optimize and improve case workflow, including initial review, case priority, and logic-based auto-assignment.

“Today’s customers demand seamless digital experiences, and insurers can’t afford to be held back by sluggish underwriting processes and data silos,” comments Jacob Sloan, VP, Global Insurance, Appian. “Appian Connected Underwriting Life Workbench is a game-changer. It combines automation, data fabric, and plug-and-play integrations to accelerate underwriting, helping insurers avoid unprofitable risks and ensuring a superior experience for both customers and underwriters.”

“This offering is powered by Magnum, Swiss Re’s automated underwriting solution and allows business users to render point of sale underwriting decisions faster and more seamlessly, ultimately improving the experience for the end consumer,” says Jason Render, Head Magnum Americas, Life & Health Solutions, Swiss Re. “We are delighted to utilize our product innovation expertise to help bring this offering to market.”

Swiss Re and Appian Partner on AI Underwriting Solution

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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