In partnership with reinsurer Swiss Re, Appian, a technology company known for its software solutions, is expanding its Connected Underwriting Life Workbench solution into select countries across Asia Pacific, Europe, the Middle East, and Africa (EMEA).
Integrated with Swiss Re’s automated life insurance underwriting solution, Magnum, the Appian Connected Underwriting Life Workbench streamlines the life insurance underwriting process, enhancing productivity and improving the experience for underwriters on a unified platform.
Traditional underwriting workbenches have struggled with integrating various internal, partner, and third-party systems, whether on-premises or in the cloud.
This often forced life insurance underwriters to juggle multiple systems, each serving a different purpose, to access information, conduct risk analysis, and manage case information for individual policies.
In contrast, modern underwriters aspire to a unified solution: a single login and system that seamlessly handles their workload across multiple cases and clients.
They require a robust and secure workbench that effortlessly connects their data, streamlines workflows, and automates processes, enabling them to work more efficiently and effectively.
“Underwriters often find themselves juggling information scattered across email inboxes, outdated systems, and lengthy documents.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,” commented Jacob Sloan, Industry Vice President, Global Insurance, Appian.
“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.”
The Appian Connected Underwriting Life Workbench offers significant advantages. It enables efficient case and workload management by automating tasks and consolidating comprehensive case data.
This streamlines decision-making and enhances productivity. Additionally, the platform automates underwriting processes, expediting policy issuance and reducing manual intervention.
The system improves both customer and underwriter experiences by improving workflows and minimising wait times and errors. Simplified communications enhance client satisfaction and attract digital-first customers.
Lastly, the platform contributes to risk minimisation and profitability improvement by integrating data from various sources and providing AI assistance for analysing policies and managing costs. These capabilities ultimately enhance business performance and profitability.
“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,” said Dylan Rowe, Head of Global Life and Health Automated Solutions, Swiss Re.
“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.”
