Generali has announced a partnership with ALLFINANZ, a subsidiary of Munich Re Insurtech.
Working with ALLFINANZ will help Generali improve the accuracy of its life insurance solutions by allowing it to automatically manage life insurance claims worldwide. Every step of the life insurance application process will be automated, making contracts in minutes, not weeks.
The partnership also means that the insurer can overcome delays previously experienced by claimants, as well as ensure consistency across all 50 territories around the world.
In July Munich Re Automation Solutions announced a partnership with Generali Indonesia to supply its SPARK ALLFINANZ solution, and in 2016 partnered with Generali Slovenia to provide ALLFINANZ.
Frederic de Courtois, CEO of Generali Group, said: “Digital transformation is one of the pillars of our Generali strategy in 2021.” For life insurance solutions, we needed a partner in the early stages of automation, which accelerated the transition from paper to digital.
“We are looking to expand our relationship with Munich Re Automation Solutions as their proven experience in each of our regions of operation shows that they can support, advise, guide and assist our colleagues as they embark on this exciting journey.”
Domenico Di Napoli, Head of Underwriting at Generali Group, commented: “With our global presence, it is very important for us to provide POS underwriting and accelerate the sales process to protect the business. Munich Re's software enables us to carry out comprehensive analytics by supporting our underwriters and distributors on a daily basis. The Munich Re team has been tried and tested by Generali and we have already seen the benefits that their technology adds. ”
Paul Donnelly, Executive Vice President Europe, Middle East and Africa, Munich Re Automation Solutions added: “I am delighted that Generali has chosen Munich Re's ALLFINANZ as its global auto underwriting solution for life insurance.
Generali's access to a modern platform will facilitate the automation and consistency of underwriting. The partnership confirms our position as the number one choice for international insurers looking to automate life insurance underwriting. ”