Swedbank Försäkring, the insurance arm of Swedbank, has deployed ALLFINANZ, a digital underwriting solution developed by Munich Re Automation Solutions.

The insurance company will leverage the platform to deliver auto-underwriting capabilities, create cost and process efficiencies.

The technology vendor said that its platform will also enable the company to enhance its customers’ experience when applying for life insurance.

Swedbank Försäkring has also chosen the rules design module for ALLFINANZ which helps the business users in creating, adapting and amending the underwriting rules in real time.

Swedbank Försäkring CEO Johanna Okasmaa Nilsson commented: “We strongly believe that technology has the power to transform the life insurance business.

“Choosing ALLFINANZ as our provider will support us in using new, data-driven services in an effective way, and help add value to our existing and potential customers as well as other stakeholders.”

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Munich Re Automation Solutions EVP for EMEA Paul Donnelly said: “We were extremely impressed by the level of scrutiny, and the commitment to quality and customer service demonstrated by everyone at Swedbank Försäkring.

“We are confident that, following such a process, ALLFINANZ will deliver on the bank’s commitment to its customers and support its strategy for growth.”

Munich Re Automation Solutions rolled out ALLFINANZ Insight in December 2017.