Clients & Case Studies
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The Zurich online underwriting system was built to improve the intermediary experience, with the aim to reduce turnaround time, enable more timely communication, and deliver more consistent customer service. With delays being the biggest issue faced by intermediaries, Zurich chose the Allfinanz system because of its superior ability to automatically process the largest number of mortgage and family protection applications. Click to view the press release. |
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In 2008 Asteron successfully deployed the Allfinanz new business and underwriting process automation system across the full range of Asteron Lifeguard® life insurance products. "The average cycle time to get a life insurance product has gone from several weeks to a day because we've put the pricing and underwriting rules online," said Mr Smith, Suncorp group executive business technology. "There's a focus on taking capability that is typically back office and making it self-service online." Read the full article from the The Australian IT section and further details in an article from The Financial Standard. |
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The system uses a technology-based automatic underwriting system supplied by Allfinanz and enabled with a rules set prepared by Munich Re. It provides automatic underwriting decisions across the full range of retail life insurance products - term, total and permanent disability (TPD), critical illness and income protection. Click to view the Press Release. |
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A new automated underwriting solution developed for New Ireland Assurance by Allfinanz has been launched for its broker channel. This new online underwriting capability will enhance New Ireland's service to brokers and their clients while also strengthening its position in the life protection market. Click to view the Press Release. |
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Metropolitan Life licensed Allfinanz's New Business solution for the implementation of a tele-underwriting process to replace the existing processes of paper application forms. Metropolitan shifted their entire new business process from paper to the telephone in under a year. By embarking on an overhaul process of its life company's new business operations, the company's desired outcome was ultimately achieved in improved efficiencies, reduced costs and an enhanced quality of service to both customers and intermediaries. View the Press Release or download the Metropolitan Case Study: Radical New Business Process Redesign Moving from "Paper Applications" to the "Telephone" for all distribution. (PDF 1MB) |
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The implemented Allfinanz system allows Liverpool Victoria to give its independent financial advisors a choice of flexible electronic processes for submitting life protection applications thereby effectively replacing their existing manual processes. This means faster acceptance of applications and significant reductions in overall operational costs. |
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Prudential had for some time had one of the most comprehensive e-commerce offerings for advisors across life and pensions as a whole. However a weakness in their offering was the lack of an online submission and underwriting capability for protection business. However, all that changed with the launch of their new protection proposition to the market using Allfinanz software. This was designed to help Prudential re-enter the protection market as a serious player in 2005 with a highly attractive proposition for adviser firms of all sizes. Download the Prudential Case Study. (PDF 902KB) |
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Standard Life chose to use Allfinanz' new business technology to automate parts of the underwriting process for their online and back office processing. Chosen because of the functionality and flexibility that the solution offers, the new business process empowers intermediaries and employees to underwrite new business applications more efficiently. View the Press Release or download the Standard Life Case Study: How Standard Life is making its move on the protection market with its online offering (PDF 33KB). |
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With stiff competition in the insurance market place, HSBC strove to implement a strategy to place it ahead of the rest. The way forward lay in developing a competitive set of insurance offerings and an overhauled information technology infrastructure to allow its agents to sell insurance faster and more efficiently bank branches. View the Press Release or download the HSBC Case Study. (PDF 994 KB) |
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The company's subsidiaries offer annuities, mutual funds, individual and group life insurance, disability plans, retirement plans and more. As a major seller of life insurance, the company was searching for a way to solve two problems: firstly to provide an Internet-based telephone personal history interview to gather intelligent data for the underwriting process and secondly to simplify the insurance new business process for its call center. After an exhaustive and competitive tender process, they solved these two problems by selecting and implementing the Allfinanz solution for underwriting automation and new business processing. A teleunderwriting research report from Celent, profiles The Hartford as a case study. Click here to request the full report. Download a tele-underwriting case study here. (PDF 276KB) |
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Leading US Bancassurer (USA) With a wide range of financial products spanning multiple distribution channels, this client had been searching for new distribution avenues for their underwritten products. Banks seemed the obvious roll-out channel for these products due to the convenience of reaching new customers. However, this channel presented problems with brokers/agents not familiar with selling life insurance, alongside underwriters who lacked faith in the prescribed approach. Allfinanz software provided a solution by empowering insurance providers to take the customer through the underwriting, sales and acceptance procedures in a controlled manner. Importantly, this was completed in a mere 20 minutes - instead of the usual weeks required by traditional methods. The deployment resulted in a new business acquisition costs being cut by 80% and sales cycle times reduced from months to minutes, to the considerable delight of customers and intermediaries. Download the Bancassurance Case Study. (PDF 259 KB) |
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Other clients of Allfinanz, who first implemented their solutions pre-2002: - National Life of Canada (Canada) - Friends Provident (UK) - Bank of Valletta (Malta) - Middlesea Valletta Life (Malta) - Direct Line (UK) - National Irish Bank (Ireland) - Toronto-Dominion Bank (Canada) - Ulster Bank Group (Ireland) |