Advance with confidence

Our regional AI team provides clients with next generation risk assessment products and solutions driven by data, AI, technology and Munich Re’s deep domain expertise. As the next generation of underwriting, Augmented underwriting with AI augments traditional underwriting (rule engines, human underwriting) with data and multiple AI models to transform customer experiences and increase underwriting automation while balancing the risk implications for future claims from AI models.

Our team comprises expert-level data scientists with deep experience specifically in insurance to drive disruption across the insurance value chain with AI from sales, to underwriting to claims. Our deep domain knowledge of insurer rule engine and back-office data, machine learning and deep learning model development, model performance optimization, management of AI risk implications, coupled with Munich Re’s cloud-based MLOps technology platform to deploy, monitor and maintain AI models in production, reliably, efficiently and at scale, allow us to deliver disruptive, yet transformative value to our clients.

Munich Re provides expert and bespoke product development services through our dedicated network of global, regional and local product development teams. We look beyond pure product development, instead considering the entire insurance value chain, including underwriting, pricing and claims management to develop innovative yet bespoke new products and solutions which are directly relevant to the observed needs of our clients’ specific target customer groups. 

Beyond our traditional insurance propositions, we are also invested in the development of new propositions aimed at making smart and effective use of all available data sources. Our Digital Solutions-based proposition innovation approach follows our unique data-led proposition innovation framework. This framework combines our medical and research capabilities with our expertise in traditional product development and the smart use of data (through our best in class data analytics capabilities) to develop new, relevant and bespoke products directly addressing identified customer needs.

Our dedication to supporting our clients in accepting reinsurance risk includes supporting our clients in the development of digital product strategies and roadmaps, and ultimately, the acceptance of insurance risk via traditional quota share and surplus arrangements to ensure that we are invested in a mutually beneficial long term partnership.

Munich Re supports life and health insurers looking to transition to the next generation of underwriting through augmenting underwriting with artificial intelligence (AI). By using a combination of AI/predictive/machine learning models and data to augment existing underwriting processes, our expert teams help insurers streamline and reinvent traditional processes to provide a more frictionless process. Key improvements that drive this include increased straight-through-processing (STP) rates, accuracy of risk selection, in addition to reduction of referral processing efforts and customer acquisition costs. Insurers can also expect an improvement on profitability through a reduced impact from of anti-selection.

With our automated underwriting rules capability, our focus is to continuously improve the customer experience and help insurers achieve operational efficiency in the digital transformation of their business. Munich Re provides an established and sophisticated underwriting ruleset to insurers as they embark on their automated underwriting journey. A team of expert underwriting rules consultants work closely with our clients to tailor the underwriting rules to their philosophy and business needs.

A central pillar of risk management for life insurance, Munich Re innovates the claims process to help insurers operate more quickly, fairly and transparently. Our focus on data analytics and artificial intelligence enables detailed data analyses to identify and manage process inefficiencies to enable insurers optimum decision-making certainty, reduction of administrative and processing costs and improvement in response times. Our data-led approach and comprehensive service portfolio paves the way for insurers to transition to digitalised claims assessment and helps them leverage their data to better manage their portfolios in a safe and systematic way.

Our dedicated health solutions arm, MR HealthTech, are specialists in developing innovative digital solutions for the health insurance industry. As one of the few companies in the world to specialize in digital software solutions for the health insurance industry, we understand your pain points, speak your language, and anticipate your changing needs. With solutions such as MEDNEXT 10, an end-to-end health insurance management system, SMAART for portfolio monitoring and reserving, as well as SHIELD for medical claims adjudication and fraud detection, we provide the tools to transform your business and accelerate growth.