Munich Re has launched its software-as-a-service product ALLFINANZ SPARK in the global mid-tier insurance market through its insurtech unit Munich Re Automation Solutions. The service enables mid-tier firms to automate underwriting and analysis processes, reduce costs and utilise an enterprise-scale platform, said Declan O'Neill from Munich Re. Allfinanz, which is based on a blockchain platform that allows for real-time data sharing, will use the technology to help insurers manage their risk portfolios more efficiently by automating processes such as under@@
Munich Re has launched its software-as-a-service product ALLFINANZ SPARK in the global mid-tier insurance market through its insurtech unit Munich Re Automation Solutions. The service enables mid-tier firms to automate underwriting and analysis processes, reduce costs and utilise an enterprise-scale platform, said Declan O'Neill from Munich Re. This will consequently speed up the onboarding of customers, reduce paperwork and human error, he said.