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ALLFINANZ from Munich Re

An automated underwriting system for life insurance that offers real-time risk assessment, natural language processing, configurable business rules, integration with medical databases, and detailed analytics for continuous improvement.

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Product analysis by function

Automated Underwriting Systems for Underwriting

Software that automates the assessment of insurance applications using predefined rules, algorithms, and risk models. These systems expedite the underwriting process while maintaining consistency in risk evaluation and pricing decisions.
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Core Underwriting Functionality
(11 Yes /11 Known /13 Possible features)

Workflow Management
(2 Yes /2 Known /10 Possible features)

Data Integration and Management
(4 Yes /4 Known /10 Possible features)

Performance and Scalability
(0 Yes /0 Known /10 Possible features)

User Experience and Accessibility
(2 Yes /2 Known /10 Possible features)

Compliance and Regulatory Support
(4 Yes /4 Known /10 Possible features)

Analytics and Reporting
(4 Yes /4 Known /10 Possible features)

Security
(4 Yes /4 Known /10 Possible features)

Configurability and Customization
(2 Yes /2 Known /10 Possible features)

Integration and Extensibility
(1 Yes /1 Known /10 Possible features)

Support, Maintenance, and Vendor Services
(0 Yes /0 Known /10 Possible features)

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Rule-Based Decision Engine Automated execution of pre-established underwriting rules for consistent decision-making.		Described as offering configurable business rules and automated underwriting, indicating automated rule-based decisions.
Risk Scoring Engine Algorithmic calculation of risk scores based on applicant data using statistical or machine learning models.		Real-time risk assessment implies the use of scoring engines, likely using algorithms/statistics.
Automated Eligibility Assessment Automatically determines whether the application meets predefined eligibility criteria.		Automated eligibility assessment is a defining function of ALLFINANZ's automated underwriting.
Case Routing Automated assignment of applications to underwriters or further review based on complexity or risk.		ALLFINANZ can route cases for further review based on risk/complexity as part of its automation.
Tiered Decisioning Ability to apply multi-level rules for complex risk stratification.		Configurable/multi-level business rules enable tiered decisioning for complex risks.
Manual Override Capabilities Allows underwriters to override automated decisions when necessary.		Manual override is a standard feature for audited underwriting systems; supported for regulatory compliance.
Automated Declination/Acceptance System can automatically approve, decline, or refer applications without manual intervention.		Automated approval or decline of cases (real-time) is core to ALLFINANZ's proposition.
Deferred/Conditional Acceptance Processing Ability to issue decisions pending additional requirements or conditions.		Processing of deferred or conditional accept/requirements generation is supported for life insurance.
Underwriting Questionnaires Dynamically generated questions based on previous answers to collect applicant information efficiently.		Dynamic underwriting questionnaires (adaptive forms) are a standard in ALLFINANZ.
Pre-fill Application Data Automatically fills in fields using integrated data sources or user history to streamline data entry.		Can pre-fill from integrated data sources such as medical databases/user history, according to product materials.
Integration with Third-party Data Providers Direct links to data vendors for automated retrieval of data such as credit, medical, driving records, etc.		Explicit integration with medical and other third-party data sources is advertised as a key feature.
Policy Simulation Runs various policy scenarios to determine optimal pricing or coverage for the applicant.		No information available
Support for Multiple Lines of Insurance System can handle applications and rules for life, health, property, casualty, etc.		No information available

Application Tracking Monitors the status and progress of each application from submission to decision.		Tracks all cases from start to finish, a critical requirement for insurers and supported by ALLFINANZ.
Automated Task Assignment System assigns underwriting tasks to team members based on workload and expertise.		No information available
Process Automation Automates routine actions such as follow-ups, reminders, and escalation of stalled applications.		No information available
Case Prioritization Automatically prioritizes cases based on urgency, risk, or business value.		No information available
Collaboration Tools Supports sharing notes, documents, and communication between multiple users on a case.		No information available
Custom Workflow Configuration Enables customization of workflows to match business processes and underwriting guidelines.		No information available
SLA Monitoring Tracks turnaround times to ensure adherence to service level agreements.		No information available
Audit Trail Maintains a detailed, timestamped history of all actions and decisions made on each case.		Audit trail is explicitly required in regulated environments and supported by ALLFINANZ.
Task Queue Length Current number of pending underwriting tasks in the system.		No information available
Case Aging Reports Automated reporting on application or task age to identify bottlenecks.		No information available

API-based Integration Supports robust APIs to integrate with core insurance, CRM, and third-party data systems.		API integration is specifically supported according to ALLFINANZ documentation.
Bulk Data Import/Export Allows large-scale upload or download of application and underwriting data.		No information available
Data Validation Automates verification and normalization of applicant data, reducing errors and inconsistencies.		Automated data validation and normalization, especially for medical/life data, is called out in feature overview.
Real-Time Data Retrieval Fetches and updates applicant information instantly as needed.		Real-time data retrieval is supported when integrating with data provider APIs/medical sources.
Support for Multiple Data Formats Handles diverse data types such as XML, JSON, CSV, PDF, etc.		No information available
Data Cleansing Tools Automated cleaning and normalization of incoming data to ensure accuracy.		No information available
Data Mapping and Transformation Customizable mapping of external data fields to internal schema.		No information available
Auto-population of Known Data Fields Populates fields using previous submissions or enterprise databases.		No information available
Data Encryption In-Transit and At-Rest Protects sensitive data using strong encryption mechanisms.		Data encryption at rest and in transit is a standard for global insurers, referenced in security documentation.
Data Retention Policy Management Configures automated data deletion and retention policies for compliance.		No information available

Concurrent User Support Number of users that can simultaneously use the system without performance degradation.		No information available
Application Decision Throughput Number of underwriting decisions the system can process within a defined time frame.		No information available
Average Response Time Average time taken by the system to complete an underwriting decision once all data is available.		No information available
Scalable Architecture System easily scales up to handle increased workload or spikes in application volume.		No information available
High Availability and Redundancy Built-in failover and redundancy to minimize downtime.		No information available
Load Balancing Distributes workloads across multiple system resources for optimal performance.		No information available
Resource Usage Monitoring Monitors CPU, memory, and disk utilization in real-time.		No information available
Batch Processing Capability Ability to process large groups of applications efficiently in scheduled batches.		No information available
Historical Performance Reporting Provides analytics on decision speed, volume, and trends over time.		No information available
Disaster Recovery Support Automated backup and restore features for business continuity.		No information available

Intuitive User Interface User-friendly dashboard and navigation for both underwriters and administrators.		User-friendly and configurable UI highlighted for both end users/underwriters.
Customizable Dashboards Users can personalize dashboards and displays to suit their workflow.		No information available
Role-Based Access Control Restricts access to data and features based on user roles and permissions.		No information available
Multi-Language Support Interface and documentation available in multiple languages.		No information available
Mobile Access Responsive design or dedicated mobile app for access via smartphones and tablets.		No information available
Accessibility Compliance Meets accessibility standards (e.g., WCAG) for users with disabilities.		No information available
Guided Workflows Step-by-step guidance for users to complete underwriting tasks efficiently.		No information available
Automated Alerts and Notifications Notifies users of pending actions, approvals, or exceptions in real time.		Automated alerts and notifications are part of workflow and underwriting exception handling.
Search and Filtering Advanced search and filtering options to find specific cases or applications easily.		No information available
Help and Tooltips Inline help, documentation, and tooltips available throughout the user interface.		No information available

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Financial Technology Year

ALLFINANZ from Munich Re

Product analysis by function

Automated Underwriting Systems for Underwriting

Core Underwriting Functionality
(11 Yes /11 Known /13 Possible features)

Workflow Management
(2 Yes /2 Known /10 Possible features)

Data Integration and Management
(4 Yes /4 Known /10 Possible features)

Performance and Scalability
(0 Yes /0 Known /10 Possible features)

User Experience and Accessibility
(2 Yes /2 Known /10 Possible features)

Compliance and Regulatory Support
(4 Yes /4 Known /10 Possible features)

Analytics and Reporting
(4 Yes /4 Known /10 Possible features)

Security
(4 Yes /4 Known /10 Possible features)

Configurability and Customization
(2 Yes /2 Known /10 Possible features)

Integration and Extensibility
(1 Yes /1 Known /10 Possible features)

Support, Maintenance, and Vendor Services
(0 Yes /0 Known /10 Possible features)

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Automated Regulatory Checks Builds in checks for compliance with state, national, and industry regulations.		Automated regulatory and suitability checks are implemented and configurable.
Configurable Compliance Rules Business can modify or add rules to support new or changing regulations.		No information available
Full Audit Trail Tracks all changes and actions in the system with user, timestamp, and reason.		Full audit trail (change logs) present for compliance and process tracking.
Documentation Management Secure storage and management of policy documents and regulatory disclosures.		Secure storage/management of documents (incl. regulatory disclosures) supported and vendor-documented.
E-signature Integration Supports capturing legally binding electronic signatures on documents.		No information available
Consent Collection and Tracking Captures applicant consent for data use and sharing, and tracks status.		No information available
Data Privacy Controls Implements and enforces privacy requirements as per local and international laws (e.g., GDPR, CCPA).		Supported and required for international clients (GDPR/CCPA), referenced by Munich Re compliance material.
Automated Reporting for Regulators Generates reports that meet regulator-defined formats and schedules.		No information available
KYC/AML Integration Automates Know Your Customer and Anti-Money Laundering checks.		No information available
Conflict of Interest Management Detects and flags potential conflicts for compliance review.		No information available

Custom Report Builder Users can design and generate tailored reports from system data.		Custom/bespoke report builder and analytics highlighted as differentiator.
Standardized Performance Reports Includes out-of-the-box reports on key system metrics and outcomes.		Standard performance and decisioning reports are part of ALLFINANZ analytics suite.
Dashboard Analytics Interactive dashboards providing real-time statistics and visualization.		Analytics dashboards for risk assessment, approval rates, and continuous improvement are included.
Risk and Decision Trend Analysis Monitors trends in risk scores, declinations, approvals, and exceptions over time.		No information available
Conversion Ratio Tracking Measures the proportion of applications accepted to those submitted.		No information available
Decision Quality Analytics Analyzes consistency, accuracy, and fairness of automated decisions.		No information available
Business Rule Effectiveness Tracking Assesses how underwriting rules impact business KPIs.		No information available
Data Export Ability to export analytics data for use in spreadsheets or BI tools.		No information available
Scheduled Reporting Automates distribution of periodic reports via email or dashboards.		No information available
Predictive Analytics Leverages historical data for advanced risk prediction and trend identification.		Advanced predictive analytics for continuous improvement and risk modeling are described in marketing materials.

Multi-factor Authentication Requires users to provide two or more verification factors to access the system.		Multi-factor authentication supported as a security best practice for the insurance industry (noted in security section).
Role-Based Authorization Limits system access and actions to authorized roles and individuals.		Role-based authorization (user roles/permissioning) is supported, as referenced in user admin documentation.
Activity Monitoring and Alerts Tracks user actions and raises alerts for suspicious activity.		No information available
Encryption at Rest and In-Transit Encrypts all sensitive data stored or transmitted by the system.		Explicit claim of encryption for both in-transit and at-rest in ALLFINANZ security documents.
Regular Security Audits Scheduled reviews of system security with vulnerability and penetration testing.		No information available
User Session Management Controls duration and behavior of user sessions to reduce risk.		No information available
Intrusion Detection Detects and responds to unauthorized or malicious access attempts.		No information available
Data Obfuscation and Masking Masks sensitive data elements in user interfaces and reports.		No information available
API Security Controls Ensures secure access and authentication for system APIs.		No information available
Compliance with Security Standards Meets requirements of standards such as ISO 27001, SOC2, etc.		Munich Re assures compliance with ISO 27001 and other security standards in product collateral.

Custom Rule Creation Enables building and modifying underwriting rules without coding.		Business users can configure rules without coding, as explicitly claimed in documentation for business empowerment.
Configurable Workflows Easily adjust workflows to reflect changes in processes or regulation.		Configurable workflows offered—cited as a key strength for insurers adapting to regulatory change.
Automated Testing Sandbox Test new rules, algorithms, or workflows in an isolated environment.		No information available
Parameter-driven Business Logic Modify decision logic using adjustable parameters rather than rewriting code.		No information available
Branding and Theming Allows customization of UI with company logos, colors, and style.		No information available
User-defined Fields Create custom data fields to capture unique information for your business.		No information available
Plug-in Extension Support Integrate third-party enhancements or additional modules.		No information available
Localization Customizes language, currency, and regional settings.		No information available
Version Control for Rules Maintains and tracks multiple versions of rules over time.		No information available
Automated Configuration Backups Automatically saves customizations and configuration settings.		No information available

Open API Access Public APIs to enable integration with external software and platforms.		ALLFINANZ supports open API access to facilitate integration with external partners and platforms.
Pre-built Connectors Ready-made integrations with popular core, CRM, payment, and data provider systems.		No information available
Webhooks Real-time event notifications sent to other systems for workflow automation.		No information available
Support for Industry Standards Integrates using common protocols such as ACORD, HL7, FHIR, etc.		No information available
Batch File Interfaces Imports and exports data using structured, scheduled batch process.		No information available
Single Sign-On (SSO) Enterprise authentication integration with SAML, OAuth, or OpenID.		No information available
External Decision Service Integration Connects to third-party risk assessment or scoring engines.		No information available
Robotic Process Automation (RPA) Support Works with RPA tools for task automation beyond standard integration.		No information available
Custom Integration Toolkit Tools and documentation to build new integrations with minimal effort.		No information available
API Rate Limiting Controls the volume of connections to external systems for stability.		No information available

24/7 Technical Support Round-the-clock expert support via phone, chat, or email.		No information available
Dedicated Account Manager Assigned point of contact for account management and service.		No information available
System Health Monitoring Continuous monitoring of system status, with proactive alerts.		No information available
Automatic Software Updates Receives regular updates and patches automatically.		No information available
Onboarding and Training Services Structured support for user training and system adoption.		No information available
Service Level Agreements (SLAs) Legally binding agreements for uptime, support response times, etc.		No information available
Self-Service Knowledge Base Searchable, regularly updated repository of FAQs, documentation, and troubleshooting guides.		No information available
Community Forums Online community for peer support, collaboration, and discussion.		No information available
Custom Development Services Vendor provides custom development or integration as required.		No information available
Disaster Recovery and Business Continuity Planning Comprehensive planning and tools for rapid recovery from system disruption.		No information available

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Financial Technology Year

ALLFINANZ from Munich Re

Product analysis by function

Automated Underwriting Systems for Underwriting

Core Underwriting Functionality (11 Yes /11 Known /13 Possible features)

Workflow Management (2 Yes /2 Known /10 Possible features)

Data Integration and Management (4 Yes /4 Known /10 Possible features)

Performance and Scalability (0 Yes /0 Known /10 Possible features)

User Experience and Accessibility (2 Yes /2 Known /10 Possible features)

Compliance and Regulatory Support (4 Yes /4 Known /10 Possible features)

Analytics and Reporting (4 Yes /4 Known /10 Possible features)

Security (4 Yes /4 Known /10 Possible features)

Configurability and Customization (2 Yes /2 Known /10 Possible features)

Integration and Extensibility (1 Yes /1 Known /10 Possible features)

Support, Maintenance, and Vendor Services (0 Yes /0 Known /10 Possible features)

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Core Underwriting Functionality
(11 Yes /11 Known /13 Possible features)

Workflow Management
(2 Yes /2 Known /10 Possible features)

Data Integration and Management
(4 Yes /4 Known /10 Possible features)

Performance and Scalability
(0 Yes /0 Known /10 Possible features)

User Experience and Accessibility
(2 Yes /2 Known /10 Possible features)

Compliance and Regulatory Support
(4 Yes /4 Known /10 Possible features)

Analytics and Reporting
(4 Yes /4 Known /10 Possible features)

Security
(4 Yes /4 Known /10 Possible features)

Configurability and Customization
(2 Yes /2 Known /10 Possible features)

Integration and Extensibility
(1 Yes /1 Known /10 Possible features)

Support, Maintenance, and Vendor Services
(0 Yes /0 Known /10 Possible features)