Following the launch of Connected Underwriting Life Workbench in North America last year, Appian, a software company that automates business processes, in partnership with Swiss Re, has made the solution available in select countries in Asia Pacific, Europe, Middle East and Africa (EMEA).
Integrated with Swiss Re’s automated life insurance underwriting solution, Magnum, the Appian Connected Underwriting Life Workbench accelerates the life insurance underwriting process while improving underwriters’ productivity and experience on one system.
Dylan Rowe, Head of Global Life and Health Automated Solutions, Swiss Re, commented, “Integrating Swiss Re Reinsurance Solution’s Magnum and Appian Connected Underwriting enables insurers to experience an intelligent and comprehensive underwriting automation and workload management platform.
“After a successful launch in North America last autumn, we are excited to make this life insurance solution available in selected countries of APAC and Europe this year so that even more customers who want to improve the efficiency and quality of underwriting with innovative technology can benefit from it.”
Some of the key benefits of the Appian Connected Underwriting Life Workbench include its ability to automate workload assignment to provide underwriters with comprehensive case data from multiple systems, enabling them to make more informed decisions more efficiently.
The tool aims to expedite policy issuance with intelligent automation, embedded underwriting and risk management rules, and integrated third-party data sources on a single system.
This will reportedly help to issue policies faster by automating underwriting workflows, minimising unnecessary wait time, reducing manual errors, and simplifying communications to increase client satisfaction, attract digital‑first customers and new talent, and retain employees.
The tool is also able to connect data from any source to provide 360-degree analysis of individual and portfolio policies with different risk profiles and tolerance levels, determine policy effectiveness with AI assistance to improve business performance, and meet service-level agreements (SLAs) with insurance partners and clients to manage costs and increase profits.
Jacob Sloan, Industry Vice President, Global Insurance, Appian, concluded, “Underwriters often find themselves juggling information scattered across email inboxes, outdated systems, and lengthy documents. This is especially true for life underwriters, for whom administrative burden can significantly slow down their ability to accurately assess risk in a timely manner.
“That’s why Appian has partnered with Swiss Re Reinsurance Solutions to introduce Connected Underwriting Life Workbench to improve operational efficiency and the underwriter and customer experience for life insurers. This solution is especially helpful for insurance companies that want to streamline underwriting processes with risk management and policy consistency across multiple markets while allowing flexible and agile adaptation to local regulations.”
