LONDON, June 11,
2024 /PRNewswire/ -- Following the launch of
Connected Underwriting Life Workbench in North America last year, Appian (Nasdaq: APPN)
today announced that in partnership with Swiss Re (SWX: SREN), the
solution will now be available in select countries in Asia Pacific, Europe, Middle
East and Africa (EMEA).
Integrated with Swiss Re's automated life insurance underwriting
solution, Magnum, the Appian Connected Underwriting Life Workbench
accelerates the life insurance underwriting process and improves
underwriters' productivity and experience on one system.
"Underwriters often find themselves juggling information
scattered across email inboxes, outdated systems, and lengthy
documents. This is especially true for life underwriters, for whom
administrative burden can significantly slow down their ability to
accurately assess risk in a timely manner," said Jacob Sloan, Industry Vice President, Global
Insurance, Appian.
"That's why Appian has partnered with Swiss Re Reinsurance
Solutions to introduce Connected Underwriting Life Workbench to
improve operational efficiency and the underwriter and customer
experience for life insurers. This solution is especially helpful
for insurance companies that want to streamline underwriting
processes with risk management and policy consistency across
multiple markets while allowing flexible and agile adaptation to
local regulations."
Traditional underwriting workbenches have lacked integration
across various internal, partner, and third-party systems,
on-premises or in the cloud. A typical life insurance underwriter
would have to log in to multiple systems to access information,
conduct risk analysis and assessment with complex calculations, and
manage and update case information, all to underwrite just one life
insurance policy.
Modern underwriters want one login and one system to orchestrate
their entire workload for multiple cases and clients, allowing them
to manage activities, tasks, transactions, and updates seamlessly
and effortlessly. They need a powerful, reliable, and secure
workbench to connect their data, unify their workflows, and
seamlessly automate processes.
"Integrating Swiss Re Reinsurance Solution's Magnum and Appian
Connected Underwriting enables insurers to experience an
intelligent and comprehensive underwriting automation and workload
management platform," according to Dylan
Rowe, Head of Global Life and Health Automated Solutions,
Swiss Re. "After a successful launch in North America last autumn, we are excited to
make this life insurance solution available in selected countries
of APAC and Europe this year so
that even more customers who want to improve the efficiency and
quality of underwriting with innovative technology can benefit from
it."
Key benefits of the Appian Connected Underwriting Life Workbench
include its ability to:
- Enable intelligent case and workload
management: Automate workload assignment to provide
underwriters with comprehensive case data from multiple systems,
enabling them to make more informed decisions more
efficiently.
- Automate underwriting processes and increase
straight-through processing: Expedite policy issuance with
intelligent automation, embedded underwriting and risk management
rules, and integrated third-party data sources on a single
system.
- Elevate customers and underwriters
experience: Issue policies faster by automating
underwriting workflows, minimising unnecessary wait time, reducing
manual errors, and simplifying communications to increase client
satisfaction, attract digital–first customers and new talent, and
retain employees.
- Minimise risk and improve profitability: Connect
data from any source to provide 360-degree analysis of individual
and portfolio policies with different risks profiles and tolerance
levels, determine policy effectiveness with AI-assistance to
improve business performance, and meet service-level agreements
(SLAs) with insurance partners and clients to manage costs and
increase profits.
For more information, please visit Appian's booth and attend our
sessions at ITC DIA Europe, Amsterdam, 12–13 JuneL
-
- Appian Stand 11
- Session information: Leveraging Gen AI in Complex
Insurance Processing: DAS and Appian (12 June, 9:30 a.m. to 9:50 a.m. CEST)
Find out why Aon, Aviva, CNA Insurance, and other leading
insurance organisations trust Appian to increase workforce
productivity, minimise wait time, and elevate user and customer
experience to drive measurable business results. To learn more and
accelerate your insurance underwriting process,
visit appian.com/insurance.
About Appian
Appian is a software company that
automates business processes. The Appian AI Process Platform
includes everything you need to design, automate, and optimise even
the most complex processes, from start to finish. The world's most
innovative organisations trust Appian to improve their workflows,
unify data, and optimise operations—resulting in better growth and
superior customer experiences. For more information,
visit appian.com/insurance and see how Appian could help your
organisation.
Follow Appian on LinkedIn and X.
About Swiss Re
The Swiss Re Group is one of the
world's leading providers of reinsurance, insurance and other forms
of insurance-based risk transfer, working to make the world more
resilient. It anticipates and manages risk – from natural
catastrophes to climate change, from ageing populations to cyber
crime. The aim of the Swiss Re Group is to enable society to thrive
and progress, creating new opportunities and solutions for its
clients. Headquartered in Zurich,
Switzerland, where it was founded in 1863, the Swiss Re
Group operates through a network of around 80 offices
globally.
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