Gen Re, the global reinsurance subsidiary of Berkshire Hathaway, and multinational technology organisation, CME, have developed a fully digital underwriting solution for the life insurance industry for the Middle East and North Africa (MENA) and East Mediterranean countries.
According to the announcement, the tool conducts a thorough analysis of an applicant’s health, lifestyle, and occupation, by integrating Insurtech tools, including AI, to generate rapid health insights, and PPG technology with advanced algorithms for analysing vital signs and remote health parameters.
This advanced system provides new opportunities for both insurers and brokers to explore diverse channels, CME said.
Alongside the software’s vast offerings, the integration of wearables and a gamified behavioral rewards system will also provide insurers with deeper insights into policyholders’ lifestyles.
It has been confirmed, that insurers can choose to either integrate the new software module into their existing systems or use it as a standalone application.
Whichever method they choose, users are expected to receive enhanced communication and document management options.
