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Friday, December 1, 2023

Appian and Swiss Re launch life insurance coverage product

The automated, end-to-end course of from Appian and Swiss Re makes underwriters’ lives simpler by offering a single interface to judge and classify danger, deal with exceptions and make case selections.

Moreover, the Related Underwriting Life Workbench is a streamlined underwriting resolution that’s prebuilt on the Appian platform. It’s designed to drive pace to market with lowered IT effort for implementation.

Its knowledge cloth capabilities allow fast knowledge and integration connectivity, coupled with AI-led automation that helps change administration and optimised processes.

As well as, Appian’s AI structure, which incorporates generative AI capabilities, lets insurers course of content material at scale and automate repetitive duties, equivalent to classifying emails and extracting knowledge from paperwork.

It additionally permits 24/7 real-time monitoring and knowledge extraction from varied sources, seamless integration with third-party instruments, and augmented decision-making with a whole audit path.

Appian and Swiss Re with Life Workbench

Life Workbench gives a prebuilt integration with Swiss Re’s Magnum Pure, an influential automated underwriting resolution powered by Swiss Re’s Life Information.

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This integration empowers underwriters to beat the complexities of a number of methods used to underwrite a case by bringing collectively all of the related knowledge, pictures, and human system interactions. Underwriters can higher consider and classify danger, deal with exceptions, and make important case selections fairly than specializing in the procedural and administrative steps, transactions, and keystrokes.

Additionally, this collaboration combines Appian’s experience in AI, automation, knowledge cloth, and case administration with Swiss Re’s industry-leading automated underwriting engine, Magnum Pure, to simplify the underwriting course of. The Swiss Re Magnum Pure resolution should be bought individually from the Appian Platform to allow the combination.

“At the moment’s clients demand seamless digital experiences, and insurers can’t afford to be held again by sluggish underwriting processes and knowledge silos. Appian Related Underwriting Life Workbench is a game-changer. It combines automation, knowledge cloth, and plug-and-play integrations to speed up underwriting, serving to insurers keep away from unprofitable dangers and guaranteeing a superior expertise for each clients and underwriters,” mentioned Jacob Sloan, {industry} vp, world insurance coverage, Appian.

“This providing is powered by Magnum, Swiss Re’s automated underwriting resolution and permits enterprise customers to render level of sale underwriting selections quicker and extra seamlessly, in the end bettering the expertise for the tip client. We’re delighted to utilise our product innovation experience to assist carry this providing to market,” added Jason Render, head Magnum Americas, life & well being options, Swiss Re.

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