The venture brings together the Allfinanz underwriting automation suite and Munich Re’s underwriting rules. With attrition rates for new business applications of up to 25%, the partnership offering aims to significantly improve both the client and adviser experience by automating up to 80% of applications at the point of sale.
Research from our user community shows that there is still a gap between the actual rates of straight through processing currently achieved and the potential that could be achieved, said David Wall, chief executive of Allfinanz. Combining our technology expertise with Munich Re’s risk management excellence creates a compelling proposition that can address this gap.
