REALYTIX ZERO

The automated underwriting system to scale your business

50%

of underwriters still use excel sheets

Many underwriting processes in the insurance world are still manual, inefficient and partially redundant. Requesting quotes can be cumbersome due to the uploading of numerous documents and extensive sets of questions. Due to problems such as legacy IT infrastructure, limited resources and tight budgets, it is hardly possible to quickly launch new products, adapt existing ones to new requirements or introduce new distribution channels. It often takes up to two years from the initial idea to market launch. But speed is key to a competitive edge, if you don’t want to put your lead at risk.

Get started with an automated underwriting system

How underwriting automation works with REALYTIX ZERO

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

Plug-and-play APIs

No development

Munich Re expertise

Reduce time to market to just a few weeks thanks to unique self-configuration capabilities and a no-code/low-code platform to implement and adapt products very quickly.

Very strong API capabilities enable easy integration of multiple external data sources or modules (such as AI or machine learning algorithms) at any point in the underwriting process - with a plug-and-play approach.

No need for in-house development – just use our proven platform.

Access to Munich Re’s analytics power and decades of pricing and underwriting experience.

Watch our demo video

Want to see our underwriting automation in action? At DIA Amsterdam 2022, we presented a demo version of REALYTIX ZERO. Check out for yourself how powerful and easy to use our platform really is. Discover amazing features like our no-code/low-code approach or the very strong API capabilities.

Digital Insurance Agenda

Watch our demo video

Presentation starts at 1:20 mins

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.

Alexander Schudra

ERGO Versicherung AG

Head of Cyber

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What is underwriting?

Underwriting is the process of assessing a risk by taking specific customers’ information when applying for insurance. Underwriting makes it possible to determine how much insurance coverage to provide and a fair price to charge for it. Now that the customers have radically changed driven by their daily use of e-commerce, they expect to get insurance products and coverages in minutes going through a more digital-native experience that is faster and smoother at the same time. To address these new consumer needs, automated underwriting comes into play.

What is automated underwriting?

Automated underwriting is a process that uses technology, automation, algorithms, and artificial intelligence instead of human beings to analyze a client’s risk in real-time. It has become an ally to provide insurance products to clients with a fully digital customer experience, filling the gap between risk assessment processes and the new clients´ demands.

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.

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