Swiss Re launches innovative life underwriting automation solution Magnum Select

• Swiss Re continues to spearhead innovation in the field of underwriting automation with the launch of Magnum Select.
• Magnum Select offers an easy to implement flexible rule base for greater product and underwriting configuration capability.
• It caters to a growing client segment seeking flexibility as their automated underwriting sophistication increases.
• Swiss Re further enhances its modular approach to underwriting automation.
• Magnum continues to deliver on The Forrester Wave™'s recognition as an innovative leader in automated life insurance underwriting.

For the past 30 years, Swiss Re has spearheaded innovation in the field of Life underwriting automation. Relying on more than 150 years of risk knowledge, substantial investments in technology and responsiveness to evolving client needs, Swiss Re has kept its flagship underwriting automation platform, Magnum, always ahead of the game and at the cutting edge of underwriting automation technologies.

Innovation triggered by clients' needs

In line with this tradition, Swiss Re has now launched Magnum Select, a new, flexible life underwriting automation solution to complement its Magnum suite of products. Magnum Select joins the Magnum solutions line up composed of Magnum Pure, Swiss Re's fully customizable enterprise underwriting automation platform designed to service large organizations with sophisticated underwriting automation requirements; and Magnum Go, a lighter and nimbler SaaS solution created to offer insurers starting their digital journey a fast path to underwriting automation.

Magnum Select was created to serve a growing client segment seeking to advance their underwriting automation capabilities as their automated underwriting sophistication increases. These clients wanted more flexibility in their underwriting configuration capability yet were not ready to take complete ownership of a self-service enterprise solution like Magnum Pure. Magnum Select was designed to offer the sought-after flexibility as a service, without increased complexity by allowing clients to configure selected rules optimized to their underwriting philosophy, thus resulting in greater product and underwriting flexibility.

A modular approach to underwriting automation

Carl Christensen, Swiss Re's Global Head L&H Solutions says, "The Magnum suite offers a modular approach to underwriting automation. Our goal is to offer solutions that can suit the needs of insurers at various points in their underwriting automation journey, making access to life insurance easier for the end consumer. The selection of the appropriate tool depends on the company's profile and underwriting strategy, whether they are a large size corporation processing daily high volumes; or an insurtech entering the insurance industry without deep underwriting knowledge or dedicated resources; or a mid-sized insurer ready for a more select underwriting automation solution."

All Magnum products are powered by Life Guide, the world's #1 underwriting resource, and leverage the Group's extensive risk knowledge to support multiple products and channels. They are designed to unlock opportunities for growth and business optimisation through powerful data-driven analytics and insights that can help insurers better target the market segment they seek.