Sun Life Malaysia Adopts Munich Re Automation Solutions SaaS Underwriting Platform, ALLFINANZ SPARK

Munich Re Automation Solutions Ltd announced today that Sun Life Malaysia has chosen its software-as-a-service (SaaS) underwriting solution, ALLFINANZ SPARK, to streamline the underwriting process and enhance its customer experience.

This partnership will allow Sun Life Malaysia access to a best-in-class automated underwriting SaaS platform and analytics digital service which Sun Life Malaysia can implement at a lower cost, integrate easily into their current systems and launch quickly.

Seng Thiam Toh, Vice President, Customer Success at Munich Re Automation Solutions Asia Pacific, Middle East and Africa, said: “We are very pleased to be partnering with Sun Life Malaysia to implement our SaaS-solution ALLFINANZ SPARK. It will provide Sun Life Malaysia’s customers with a faster turnaround time, and a more personalised risk assessment and experience, allowing underwriters to focus their efforts on complicated cases. We look forward to working with Sun Life Malaysia and supporting it in its ongoing digitalisation efforts, including enabling AI and predictive underwriting to take their customer experience to the next level.”

Raymond Lew, Chief Executive Officer and President/Country Head, Sun Life Malaysia said:“Building digital leadership is an essential part of Sun Life Malaysia’s long-term growth. It also aligns with our purpose of helping clients achieve lifetime financial security and live healthier lives. As more of our clients prefer to engage with us digitally, we believe by enabling straight- through processing using the Munich Re Automation Solutions underwriting platform, we will be able to deliver quicker and more efficient services to our clients.”

Munich Re Automation Solutions automated underwriting platform, ALLFINANZ SPARK, is a cloud-based new business, digital underwriting and analytics solution designed to deliver everything insurers need to quickly drive significant growth in sales, while transforming their customers’ buying experience.

ALLFINANZ SPARK gives insurers the power to make rapid operational and strategic improvements to their digital new business process to ensure faster application-to-decision process with accurate risk pricing and helps improve back-office efficiencies.