Munich Re Automation Solutions Pte,a Munich Re subsidiary, announced that Malaysia based Hong Leong Assurance (HLA) and Hong Leong MSIG Takaful (HLM Takaful) have selected its ALLFINANZ technology, a modular solution that delivers capabilities across automated underwriting and advanced analytics,to streamline the application and underwriting processes for life insurance and family takaful in the country…

This is in line with HLA and HLM Takaful‘s continuous efforts to forge ahead through greater use of leading-edge technologies that enhance various business processes. This collaboration shows an innovative use of technology, as well as a reliable access point that tracks and updates the end user on the progress through the underwriting process.

By utilising Munich Re’s underwriting rules and expertise through ALLFINANZ’s analytics and reporting capabilities, HLA and HLM Takaful will be able to streamline their current underwriting processes and be more cost effective.

With this collaboration, HLA and HLM Takaful have become a pioneer digital insurer and family takaful provider in Malaysia. They can further enhance the efficiency of distribution channels and productivity of the sales force and provide real time access to customers.

Alby Van Wyk, Executive Vice President of APAC at Munich Re Automation Solutions, commented: “We are delighted to partner with Hong Leong Assurance and Hong Leong MSIG Takaful on their journey to digitalisation. Using both the online and offline capabilities of ALLFINANZ, they will have the tools to convert more business, more consistently; all to the benefit of consumers”.