Magnum - Real Time, Real Data, Real Results

Automated underwriting systems have developed substantially over the years. They help you get new customers on risk quickly and increase the chance of completing the sale. The system should make the majority of underwriting decisions without referral to an underwriter. By asking the most relevent questions, you save time, you save money, and you enjoy a better relationship with your customer.

With more than 30 primary insurers in 16 countries using it to assess all new applications for life, critical illness and disability insurance, Magnum is the gold-standard in its class. The system processes more than 1 million policies every year.

Magnum lets you cope with high volumes of applications, and ensures underwriting consistency. What’s more, it simplifies the application process; for example in the UK, Magnum clients have boosted decisions taken without referral from the market norm of 40% to well over 70% of the total.

Sophisticated underwriting

Magnum gives you access to Swiss Re’s sophisticated framework of Life & Health underwriting rules. With more than 15 years’ development behind us, our rule base has the depth to cover more aspects of life and health risk, and offers you total flexibility: you can add or edit the base rules provided to reflect your own company or market preferences. And it’s available in multiple languages. Magnum is the automated underwriting system of choice for those life insurers serious about underwriting and the protection business.

What’s new?

Swiss Re is enhancing Magnum because it deepens our client understanding and continuously improves our own knowledge of the type of risks we reinsure.

The new Magnum will allow you to improve the quality of your portfolio and reduce pipeline times and costs, resulting in real improvement in business performance.

The new Magnum will offer an impressive range of functionality

Because our technology is designed specifically around the underwriting process, Magnum closely replicates an underwriter’s rules and decision-making processes. 

The enhanced system will give authorised underwriters the following advantages:

• the ability to easily customise and edit underwriting rules using advanced drag-and-drop technology
• an advanced ‘free-text matching’ dictionary, reducing underwriting referrals, helping consumers and ensuring consistency of outcomes
• an option to use Magnum’s new full end-to-end new business processing capacity, including our Magnum front-end and ‘Underwriter's work bench’
• even greater data insights from the Swiss Re Magnum team including reports, showing the quality of business and advice on how to improve the bottom line.

Magnum can also provide its users with the strategic information and knowledge needed to grow profitably in today’s increasingly competitive world.