Reinsurance News

Swiss Re’s Magnum Go receives Digital Trust Label

18th January 2022 - Author: Pete Carvill

Swiss Re’s Magnum Go, an automated underwriting engine designed for life insurance, has been certified with the Digital Trust Label (DTL).

moses-ojeisekhoba-swiss-reDone through the Swiss Digital Initiative (SDI), the DTL designed to help users identify trustworthy digital certificates.

Moses Ojeisekhoba, CEO Reinsurance of Swiss Re, said: “We strongly believe in digital responsibility as well as recognised standards and we fully support the SDI. The financial services industry needs to further implement and promote rigorous standards of digital governance. We consider data protection, privacy, and security to be key to ensure the trustworthiness of digital services for our clients.”

Based in Geneva, the SDI was founded in 2019. It refers to its Digital Trust Label as ‘a combination of a bio Label and nutrition fact table for the digital world’.

The label is currently being piloted by seven test partners, of which Swiss Re is one. The others are AXA, Canton Vaud, Credit Suisse, Booking.com, IBM Switzerland, and Swisscom. The Swiss train company SBB had also previously been a test partner.

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A recent report from the SDI gives further detail on the certification. That report said the certification “shows that mandatory criteria are fulfilled by a digital service, while at the same time giving users more information and transparency about four dimensions of the digital service: Security, Data Protection, Reliability of a service and Fair User Management (making transparent automated decision-making).”

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