Munich Re's automation insurtech strikes partnership with MetLife Gulf

Munich Re Automation Solutions, a subsidiary of global reinsurer Munich Re, has partnered with MetLife Gulf for its digital life insurance underwriting solution.

The partnership will see MetLife Gulf implement its ALLFINANZ solution to enable its life insurance brokers, agents, and Bancassurance partners to provide a more streamlined service in Bahrain, Kuwait, Qatar, United Arab Emirates (UAE) and Oman.

Leveraging the underwriting software, it will be possible to retrieve all necessary consumer information required to provide a proposal within 24 hours.

Dimitris Mazarakis, general manager of MetLife Gulf, said: “MetLife is committed to simplifying interactions with our customers through innovation and digitalisation. We look forward to continuing our partnership with Munich Re Automation Solutions and enhancing our levels of service for our customers in the Gulf.”

Paul Donnelly, executive vice president EMEA at Munich Re Automation Solutions, commented: “The shift from paper-based processes to digital is the way forward globally and our partnership with MetLife will cement our position as a key proponent for this. We’re committed to helping make life insurance processes as seamless as possible in the region.

“ALLFINANZ will provide intermediaries with capabilities to have one-and-done conversations with customers instead of multiple forms and questionnaires, allowing them to work swiftly and respect their customers’ time.”