DUBLIN-Thursday, April 26th 2018 [ AETOS Wire ]
(BUSINESS WIRE)-- Munich Re Automation Solutions Ltd. has
announced that its long-established client, VitalityLife, has been
recognized in Celent’s 2018 Model Insurer awards for its exemplary work
in re-writing the rules of underwriting to achieve operational
excellence.
VitalityLife
was rewarded for its novel use of technology in its Vitality Nurse
initiative, reducing the time needed to fix underwriting terms for a
life cover application from an average of 14 working days to as little
as two hours. This initiative deploys a new team of Vitality nurses,
equipped with the powerful third party data processor ALLFINANZ Evidence
Analyzer from Munich Re. The nurse visits the client at home, carries
out the blood test and enters their medical screening results directly
into the ALLFINANZ Evidence Analyzer on their iPad, producing an
immediate underwriting result.
“We’re
well known for our innovative products which are rooted in a culture of
creativity and a desire to do what’s best for society” said Deepak
Jobanputra, Deputy CEO, VitalityLife. “We look to collaborate with
organisations like Munich Re that have the ability to think differently
and bring ideas to life, helping us to continually engage with our
members and develop a loyal customer base.”
"VitalityLife
is an organisation that wants to stand out, and is not afraid to do
things differently” says Paul Donnelly, Executive Vice President EMEA at
Munich Re. “The team at VitalityLife has shown drive, tenacity and
leadership to bring this initiative to fruition, I wholeheartedly
congratulate them on receiving such well-deserved international
recognition. It is a fitting reward for their hard work and innovation.”
Celent
is a global research and advisory firm for the financial services
industry. The Model Insurer Awards recognise the best practices of
technology usage in areas critical to success in insurance. Nominations
are submitted by insurance carriers and undergo a rigorous evaluation
process by Celent analysts. This year, Celent received a record number
of nominations from all over the world. Around a hundred companies with
headquarters in 29 countries submitted a total of 132 nominations.
“The
Model Insurer Awards recognize how insurers are harnessing technology
to change the face of insurance.” says Nicholas Michellod, Senior
Analyst at Celent “Achieving operational excellence, requires
transforming processes and systems into competitive advantages by making
them leaner, faster, more flexible and of higher quality.”
Contacts
Munich Re
David Bordas
+35312932888
dbordas@munichre.com
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