alitheia case study

Exceeding expectations:
alitheia case study

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    Unprecedented straight-through processing rates lead to impressive sales gains for major carrier

    To enable customers to apply for and purchase a custom term life insurance product online, a major carrier turned to alitheia, Munich Re’s transformational risk assessment and instant decisioning platform. The program integrates real-time data with cutting-edge underwriting technology to provide qualified customers with high-quality options at competitive rates. Results to date* have exceeded expectations, vastly improved the customer experience, and positively impacted the carrier’s bottom line. 

    Watch the video and read the highlights below to learn more.

    Sales and efficiency results

    Application count goals
    Policy placement goals
    16 weeks
    Start-to-launch time

    Quote time and offer match

    Applications with instant decisions
    10 mins
    Average decision time
    Of cases delivered the top two risk classes

    Cycle time

    Policies purchased <24 hours from application completion
    Policies purchased in <7 days
    Applications accurately assessed without medical exams

    The alitheia advantage

    Blurred motion of multi colored lights creating flowing ribbon effect
    ©Mike Kemp/Blend Images LLC

    With alitheia, insurance carriers are finally able to provide a hassle-free buying experience to their customers – from application and underwriting assessment to a rapid and reliable quote.  

    • Improved straight-through processing rates—Increase STP rates from the industry average of around 15% to reach 50%. 

    • Limited mortality costs—Keep shared costs for insurance members low, attracting more business. 

    • Save time, money, and personnel—Automate decision-making to review a larger customer base, freeing up staff to focus on higher-level tasks. 

    • Flexible filing–Save time and enable easy, ongoing updates for a more agile filing process. 

    • Regular improvements—Updates implemented every two weeks to incorporate new learnings, while models undergo ongoing audits to help ensure fairness and mitigate bias.

    Explore all of Munich Re’s Life & Health Digital Solutions

    Patrick Sullivan
    Life insurance risk assessment has become a complex endeavor requiring deep expertise in data science, medical underwriting and technology. Our solutions employ cutting-edge innovation to get people insured faster and with a better experience.
    Patrick Sullivan
    Senior Vice President
    Munich Re North America Life
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    Patrick Sullivan
    Patrick Sullivan
    Senior Vice President, Munich Re Life US
    Adnan Haque
    Adnan Haque
    VP, Integrated Analytics