Munich Re Automation Solutions, part of the global reinsurance group, has entered into a new partnership with Helvetia Seguros to implement an innovative digital underwriting solution for the Spanish life insurance market.
The technology, which has been developed by Munich Re Automation Solutions, will enable Helvetia Seguros’ intermediaries to offer streamlined underwriting to their Spanish customers.
By implementing the technology, intermediaries will be able to provide an innovative insurance underwriting process, significantly reducing the number of prospects lost in the sales funnel.
Alongside the technology, the Munich Re Iberia team will develop, maintain and enhance the necessary underwriting guidelines to foster Helvetia Seguros’ life insurance digital sales.
Carlos Piñero Porro, Director of Life Insurance, Helvetia Seguros, said: “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.”
Carlos Rodríguez García, Executive Director L&H Innovation, UW & Claims for Southern Europe and Latin America, Munich Re, commented: “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.”
Paul Donnelly, Executive Vice President EMEA at Munich Re Automation Solutions, added: “This partnership affirms our position as the primary choice for firms aiming to accelerate their life insurance automated underwriting capabilities. 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.”