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Munich Re Automation Solutions signs a global partnership with Generali on life insurance applications

2020/10/22

Munich Re Automation Solutions signs a global partnership with Generali on life insurance applications

Adopting ALLFINANZ will enable Generali to significantly improve the accuracy of its life insurance underwriting decisions. Generali will now automatically manage life insurance applications globally, shortening the process and enhancing the customer journey.

This global partnership cements Munich Re Automation Solutions’ successful track record working with Generali internationally. By harnessing ALLFINANZ, Generali will automate each phase of its life insurance application process, finalising contracts in minutes instead of weeks. The move will eliminate delays previously faced by applicants and will also ensure consistency across all 50 territories globally.

In July, Munich Re Automation Solutions announced a partnership with Generali Indonesia to deliver its SPARK ALLFINANZ solution and partnered with Generali Slovenia in 2016 providing ALLFINANZ

Digital transformation is one of the pillars of our ‘Generali 2021’ strategy. On life insurance solutions we required a partner specifically in early automation stages, accelerating the move from paper to a digital process. We are eager to expand our relationship with Munich Re Automation Solutions as their proven expertise in each of our operating regions shows they can support, advise, guide and assist our colleagues embarking on this exciting journey.
Frédéric de Courtois
Generali Group
General Manager

Domenico Di Napoli, Generali Group Head of Protection & Underwriting, adds: “With our global presence, it’s essential for our entities to provide point of sale underwriting and speed up the sales process for protection business. Munich Re’s software allows us to carry out complex analytics, supporting our underwriters and distributors daily. Munich Re’s team is tried and tested by Generali and we have already seen the advantages added by their technology.”

Marco Pistamiglio, Head of Life & Health and Executive Director, Munich Re Italy comments: “Following a rigorous selection process we are pleased that Generali sees the benefits of extending its partnership with Munich Re. The close cooperation between our Life & Health and the Automation Solutions colleagues ensures Munich Re will operate as one collaborative team to provide quality customer experiences. This approach will ensure our digital underwriting capabilities match Generali’s ambitions, service their customers and fit into their long-term growth strategy.”

I am delighted that Generali has selected Munich Re Automations Solutions’ ALLFINANZ as its automated underwriting solution for the life insurance business globally. Generali’s access to a state-of-the-art platform will drive automation and consistency of underwriting. The partnership reaffirms our position as the number one choice of multinational insurers seeking to automate life insurance underwriting” says Paul Donnelly, Executive Vice President EMEA at Munich Re Automation Solutions.

About Munich Re Automation Solutions
Munich Re Automation Solutions, is the world leading provider of digital new business, underwriting and analytics solutions to the insurance industry. Working with forward-thinking customers across the globe, we're on a mission to revolutionise the way life insurance is bought and sold, using next-generation technology to give insurers the power to grow their businesses profitably. 

About Generali

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in 50 countries in the world, with a total premium income of more than € 69.7 billion in 2019. With nearly 72,000 employees serving 61 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. Generali’s ambition is to be the Lifetime Partner to its customers, offering innovative and personalized solutions thanks to an unmatched distribution network.

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