Magnum recognized by The Forrester Wave™ among top automated underwriting engines
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Automation and the development of digital solutions have been part of Swiss Re's DNA for decades, and we've been advocates for technology-driven industry transformation for as long. Our calls for change got renewed traction recently, as the need to digitalize insurance became evident during the pandemic. Industry transformation accelerated.
One of the key drivers for change was consumer behaviour. As consumers become more digitally savvy and online shopping booms, everyone has much higher expectations of finding solutions for their needs instantly, online, at their fingertips. Buying insurance is no exception. Hence the need for insurers to consider digitalization and underwriting automation to stay relevant.
Swiss Re's Magnum suite of cloud-based underwriting automation solutions allows insurers of all sizes to take that step, painlessly. Recently recognized by The Forrester Wave™: Automated Life Insurance Underwriting Engines, Q2 20211 as a leader in Automated Life Insurance Underwriting Engines, Magnum was evaluated alongside a host of the most significant providers of life insurance underwriting automation tools. We believe that receiving the highest possible scores in 21 of the 34 evaluation criteria reflects Swiss Re's constant investments in cutting-edge technology to keep the tool future ready. Magnum echoes the principle that, to be truly successful, automation needs to balance speed and simplicity with accuracy and confident risk assessment.
The Magnum suite of underwriting automation offers a modular architecture so clients can select the right level of automation they need. They can choose between Magnum Go, a cloud-based solution that makes automation more accessible and simpler to install, or Magnum Pure, that offers extended levels of customization, reporting and analytics capabilities. Both modules are backed by Swiss Re's Life Guide, the industry's #1 underwriting manual, that has been freshly revolutionized to help clients manage current and future risks and build a strong and sustainable portfolio in this rapidly changing world.
A team of Swiss Re solutions experts accompanies clients through their digital journey, working with them in tandem from product development to underwriting journey design. Adopting a consultative approach, Swiss Re experts help clients maximize the benefits they can get from Magnum, and help them deliver a fast, more engaging and intuitive experience to their customers, thus increasing conversion, boosting sales while cutting costs, achieving efficiencies and increasing their analytics capabilities
Whether you are looking to completely transform your underwriting with new thinking on product design, modelling and customer journeys or simply want to take the first step into automation your Swiss Re team is ready to help. Contact us to start a conversation.
1 The full Q2 2021 The Forrester Wave™ report is available to Forrester subscribers or for purchase at The Forrester Wave™: Automated Life Insurance Underwriting Engines, Q2 2021