VitalityLife Provides Innovative Health Services and More Accurate Underwriting with Munich Re’s ALLFINANZ Underwriting Software
New insurance products from recognised industry leader VitalityLife offer customers reduced premiums through ongoing health monitoring. VitalityLife's Wellness Optimiser and Vitality Nurse engage members and incentivise them to manage wellness by offering innovative dynamic pricing on their premiums.
VitalityLife first installed ALLFINANZ software in 2007 but required ongoing automation only available in today's ALLFINANZ suite. Other underwriting automation software were evaluated but fell short.
"The flexibility the ALLFINANZ product suite provides will help us better structure, present and evaluate health questions and answers. In true multi-stage underwriting, it then further automates the assessment of Vitality Nurse exams, with blood tests shortly to follow.”
"This capability to integrate with external data is future-proofing us for whatever new sources of information we decide to use in the underwriting journey. We need to partner with an organisation that constantly evolves and enhances its solution because we’re always looking at how we can take our business to the next level."
Most applications get a final underwriting decision in less than an hour. The goal is to deliver multi-stage, nurse-involved decisions in a day.
VitalityLife are the first insurance company to reward people for healthy living. They are owned by Discovery Holdings, a leading global insurer with over 4.4 million clients. For more information on VitalityLife, visit https://www.vitality.co.uk/life-insurance/
View source version on businesswire.com: http://www.businesswire.com/news/home/20171010005041/en/
www.munichre.com/automation-solutions
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