Munich Re partners with Helvetia on automated underwriting technology
Global reinsurer Munich Re has partnered with insurance firm Helvetia Seguros to implement its digital underwriting solution in the Spanish market.
The technology has been developed by Munich Re Automation Solutions, a provider of digital new business, underwriting and analytics solutions to the life insurance industry.
The new solution will enable Helvetia Seguros’ intermediaries to provide streamlined underwriting to their customers in Spain.
The implementation will allow intermediaries to offer an innovative insurance underwriting process, significantly reducing the number of prospects lost in the sales funnel. In addition, the Munich Re Iberia team will develop and enhance the necessary underwriting guidelines to foster Helvetia Seguros’ life insurance digital sales.
“This partnership affirms our position as the primary choice for firms aiming to accelerate their life insurance automated underwriting capabilities," said Paul Donnelly, executive vice president EMEA at Munich Re Automation Solutions.
"For years Helvetia Seguros has been pushing the boundaries to provide an excellent, technology-driven, service to its intermediaries and customers. It is considered to be a front-runner in the Helvetia Group and we are delighted that it has placed its faith in us as its partner for what should be a revolution in the Spanish life insurance market. We’re confident this partnership will shape up to be a perfect match.”
Carlos Rodríguez García, executive director L&H innovation, UW & claims for Southern Europe and Latin America at Munich Re Group, added: “I am delighted that Helvetia Spain has selected Munich Re’s automated underwriting technology for its life insurance underwriting business. We are committed to supporting our partners and, from Munich Re’s regional office in Madrid, we will bring full expertise in underwriting and claims to support Helvetia Seguros in providing optimal user experiences for customers engaging in life insurance products and high-quality underwriting.”
Carlos Piñero Porro, director of life insurance at Helvetia Seguros, commented: “Munich Re’s global expertise and proven track record in the life insurance industry have been decisive factors which made them the clear choice of partner for Helvetia Seguros. Our company, being a fast-moving organisation, required a well-established partner who could provide proven technology and we’re convinced this is the right choice.”
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