Munich Re Automation Solutions Announces a Continuation of their Long-Standing Partnership with BDO Life, Philippines.

Munich Re Automation Solutions
2019-10-10 08:50 1293

MANILA, Philippines, Oct. 10, 2019 /PRNewswire/ -- Munich Re Automation Solutions, the world leading provider of digital new business, underwriting and analytics solutions to the insurance industry, today announced that it is continuing its long-standing partnership with BDO Life Assurance Company, Inc. (BDO Life) of the Philippines, with a further extended implementation of Munich Re's ALLFINANZ solution.

Munich Re and BDO Life's continued partnership is in response to the growing need for revolutionary underwriting and analytics solutions to service the rapidly expanding life insurance industry in the region. The ongoing partnership represents an impending shift towards automation and advanced analytic technologies offering the potential for new product innovations and customer insights. Increasing levels of automation provides a more efficient and transparent process for customers, advisors and underwriters, lowering costs and providing consistent decisions.

The partnership puts emphasis on providing the tools needed to reduce the time required to process applications allowing for on the spot decision making. Within a growing Asia life insurance market Munich Re's underwriting capabilities offer an advantage to life insurers looking for a forward thinking, innovative and creative digital service provider allowing businesses of all sizes to expand and streamline their operations.

"The digitalisation of the underwriting process brings the customer to the forefront, a priority that BDO Life believes Munich Re, as a leading provider in the market, is positioned to deliver," says BDO Life's President & CEO Renato A. Vergel De Dios.

About Munich Re Automation Solutions

Munich Re Automation Solutions, is the world leading provider of digital new business, underwriting and analytics solutions to the insurance industry. Working with forward-thinking customers across the globe, we're on a mission to revolutionize the way life insurance is bought and sold, using next-generation technology to give insurers the power to grow their businesses profitably.

About BDO Life

BDO Life Assurance Company, Inc. is a subsidiary of BDO Unibank, Inc., the largest bank in the Philippines in terms of total assets, loans, deposits, and trust funds under management based on published statements of condition. BDO Life offers a diverse pool of life insurance products suitable to the needs of its clients. It provides protection, education, savings, health, retirement, and estate planning solutions aimed at creating a secure future for its individual customers and their families. BDO Life extends comprehensive group term life insurance for corporate clients.

Statements contained in this press release may be forward-looking statements or statements relating to expected future performance. These statements are based on our assessment of current market and economic conditions and expectations and are therefore uncertain. Munich Re Automation Solutions Limited does not make any representation or warranty, express, implied or otherwise regarding the content, accuracy or completeness of such statements and disclaims all liability arising from any reliance by anyone on such statements.

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Source: Munich Re Automation Solutions