Mongeral Aegon goes live with Munich Re Automation Solutions’ automated underwriting solution, SARA

Munich Re Automation Solutions Ltd, a leading provider of automated underwriting and analytics solutions to the life insurance industry, is proud to announce its SARA risk assessment solution is now live with Brazilian life insurance company, MAG Mongeral Aegon.

SARA is a state-of-the-art digital underwriting solution, deployed at point-of-sale, which MAG (life insurance company specialist) will use to automate new business in its private segment.

Alberto Abalo, CEO Munich Re Life and Health, Southern Europe, and Latin America, said: “I am thrilled to see MAG embrace our automated underwriting services. By leveraging SARA, MAG will not only streamline its processes but is also enhancing the customer experience at the point-of-sale. This step marks a significant milestone in our partnership and reinforces Munich Re's commitment to the Brazilian market.”

Nuno David, Commercial and Marketing Director of the MAG Group said: “The partnership with Munich Re Automation Solutions represents an important step forward in our strategy of providing efficient, high-quality services to our customers. SARA not only simplifies, but also streamlines the underwriting process, offering a faster and more personalized experience, in line with the expectations of younger generations, who are looking for convenience and personalization in digital services.”

SARA is a software-as-a service (SaaS) solution that can be easily integrated via API (Application Programming Interfaces) to the insurance companies’ systems.

Driven by Munich Re’s underwriting guidelines and backed by over 140 years of industry expertise, SARA’s underwriting rulebook is continuously updated and provides data insights to drive profitable business outcomes.

SARA can underwrite more than 90 per cent of life insurance applications at the point of sale in under two minutes, while offering customers a personalized experience.