The automated underwriting system to scale your business
Get started with an automated underwriting system
With REALYTIX ZERO, you can launch, distribute and scale new or existing insurance products significantly faster, reduce costs and increase process efficiency. Product design, pricing, distribution and administration can be done using a fully digital process on a single, cloud-based no-code/low-code platform. The unique self-configuration capabilities allow quick implementation and adaptation of your insurance products. Leverage our API driven ecosystem to reduce questions asked, integrate machine learning algorithms and integrate seamlessly into other systems.
Additionally, REALYTIX ZERO can eliminate the need for complicated manual processes when reinsuring facultative risks. A completely digital and automated underwriting process enables you to obtain superior Munich Re capacity in just a few clicks.
The benefits of REALYTIX ZERO at a glance
Faster time to market
Munich Re expertise
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With REALYTIX ZERO’s unique self-configuration capabilities we are able to customize and adjust our Commercial Cyber insurance products really fast – in a couple of days only instead of months.
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What is underwriting?
What is automated underwriting?
Automated vs. manual underwriting?
Manual underwriting is a process that depends on a person to assess risks, also requires numerous information from the client about the risk itself, and involves lots of paperwork and time. Once the client can provide the underwriter with the required information, the underwriter then needs to assess the potential risk to provide an insurance quotation to the client.
While manual underwriting can be an attractive option for complicated risks, in many cases it involves a drain on time and resources. On the contrary, automated underwriting is completed fast and in real-time using advanced algorithms and software in order to assess a client´s risk.
What is an automated underwriting system?
An automated underwriting system is a platform that delivers advanced analytical modeling and predictive capabilities directly into existing and new business processes. Insurers can make better-informed and fairer underwriting decisions more quickly by reducing the number of questions asked and information required, therefore improving overall claims conversion. It also empowers insurers to improve objective risk analysis, leveraging the agnostic detection of patterns and connections in application responses that would typically be time-consuming and hard to identify only with the human eye.
An automated underwriting system speeds up the customer journey allowing insurance carriers to provide insurance products just with the click of a button.