MAG Seguros Goes Live on Munich Re Automation Solutions SARA

The Brazilian life insurer deployed the automated underwriting solution to streamline customer experience and operational processes.

(Image credit: Raphael Nogueira/Unsplash.)

Mag Seguros (MAG Mongeral Aegon, Rio de Janeiro), a life and pension insurer of the Mongeral Aegon Group with 188 years of uninterrupted operations in Brazil, has gone live on Munich Re Automation Solutions’ (Dublin) automated underwriting solution SARA. Munich Re Automation Solutions describes SARA as a state-of-the-art digital underwriting solution, deployed at point-of-sale, which MAG (life insurance company specialist) will use to automate new business in its private segment.

Alberto Abalo, CEO, Southern Europe and Latin America, Munich Re Life and Health.

“I am thrilled to see MAG embrace our automated underwriting services,” comments Alberto Abalo, CEO Munich Re Life and Health, Southern Europe, and Latin America. “By leveraging SARA, MAG will not only streamline its processes but is also enhancing the customer experience at the point-of-sale. This step marks a significant milestone in our partnership and reinforces Munich Re’s commitment to the Brazilian market.”

Faster, More Personalized Experience

“The partnership with Munich Re Automation Solutions represents an important step forward in our strategy of providing efficient, high-quality services to our customers,” comments Nuno David, Commercial and Marketing Director, MAG Group. “SARA not only simplifies, but also streamlines the underwriting process, offering a faster and more personalized experience, in line with the expectations of younger generations, who are looking for convenience and personalization in digital services.”

Nuno David, Commercial and Marketing Director, MAG Group.

SARA is a software-as-a service (SaaS) solution that the vendor says can be easily integrated via API (Application Programming Interfaces) to the insurance companies’ systems. Driven by Munich Re’s underwriting guidelines and backed by over 140 years of industry expertise, SARA’s underwriting rulebook is continuously updated and provides data insights to drive profitable business outcomes, the vendor says. Munich Re Automation Solutions says that SARA can underwrite more than 90 per cent of life insurance applications at the point of sale in under two minutes, while offering customers a personalized experience.

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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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