Mongeral Aegon goes live with Munich Re Automation Solutions’ automated underwriting solution, SARA
2024/05/21
properties.trackTitle
properties.trackSubtitle
Brazilian life insurer seeks to streamline customer experience and operational processes with optimized digital underwriting solution
Munich Re Automation Solutions Ltd, a leading provider of automated underwriting and analytics solutions to the life insurance industry, is proud to announce its SARA risk assessment solution is now live with Brazilian life insurance company, MAG Mongeral Aegon.
SARA is a state-of-the-art digital underwriting solution, deployed at point-of-sale, which MAG (life insurance company specialist) will use to automate new business in its private segment.
Alberto Abalo, CEO Munich Re Life and Health, Southern Europe, and Latin America, said: “I am thrilled to see MAG embrace our automated underwriting services. By leveraging SARA, MAG will not only streamline its processes but is also enhancing the customer experience at the point-of-sale. This step marks a significant milestone in our partnership and reinforces Munich Re's commitment to the Brazilian market.”
Nuno David, Commercial and Marketing Director of the MAG Group said: “The partnership with Munich Re Automation Solutions represents an important step forward in our strategy of providing efficient, high-quality services to our customers. SARA not only simplifies, but also streamlines the underwriting process, offering a faster and more personalized experience, in line with the expectations of younger generations, who are looking for convenience and personalization in digital services.”
SARA is a software-as-a service (SaaS) solution that can be easily integrated via API (Application Programming Interfaces) to the insurance companies’ systems.
Driven by Munich Re’s underwriting guidelines and backed by over 140 years of industry expertise, SARA’s underwriting rulebook is continuously updated and provides data insights to drive profitable business outcomes.
SARA can underwrite more than 90 per cent of life insurance applications at the point of sale in under two minutes, while offering customers a personalized experience.
For more information on SARA please visit Munich Re Digital Solutions website.
Digital Solutions for Life & Health | Munich Re
Munich Re
Munich Re Automation Solutions is part of Munich Re, which is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage – from the 1906 San Francisco earthquake to Hurricane Ian in 2022. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies or cyber risks. The Group is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world’s most sought-after risk partners for businesses, institutions, and private individuals.
Disclaimer
This release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.
