The insurtech subsidiary of Munich Re is partnering Hong Leong to provide its digital underwriting tool across its businesses in Malaysia.
Munich Re Automation Solutions has announced a partnership with Hong Leong Assurance (HLA) and Hong Leong MSIG Takaful (HLM Takaful), under which it will provide its automated underwriting solution Allfinanz, the Dublin-based firm announced in a statement on Tuesday.
Allfinanz is modular solution that delivers capabilities across automated underwriting and advanced analytics.
The deal follows Munich Re's agreement earlier this month to provide its digital underwriting solution to Indonesian life insurance provider Generali Indonesia.
Streamlining Processes
The deal is in line with HLA and HLM Takaful‘s efforts to use more leading-edge technologies to enhance their business processes as Hong Leong aims to become a pioneering digital insurer and family takaful (Islamic insurance) provider in Malaysia.
«They can further enhance the efficiency of distribution channels and productivity of the sales force and provide real-time access to customers,» the statement said.
