Munich Re wins significant 2018 XCelent Customer Base Award
Munich Re Automation Solutions Ltd., the leading provider of digital new business and underwriting today announced it has won an XCelent Customer Base Award from Celent, a research and consulting firm dedicated to helping financial institutions formulate comprehensive business and technology strategies.
Celent reviews and ranks the leading life new business and underwriting vendor systems beings used or actively sold to insurers in North America. Munich Re has been recognized as an XCelent Customer Base winner. This award is attributed on the basis of the growing number of live insurers using their ALLFINANZ underwriting rules engine, new client momentum and excellent customer feedback.
Karen Monks, Senior Analyst with Celent’s Insurance Group and co-author of the report said, "Munich Re’s ALLFINANZ system has shown momentum in the market. It continues to have success in sales and implementations across North American insurers which is why they were named an XCelent Award winner".
This view was further reinforced by reviews received in the latest NMG consulting survey highlighting ALLFINANZ consistent performance, high customer satisfaction ratings and overall lead in this space in North America.
"The Life Insurance industry is undergoing a transformation which is giving rise to rapidly changing needs in the technology space. Over the last four years, we have placed emphasis on making sure our clients can integrate data easily into our system and ensure maximum benefit from the technology post go-live. We are delighted to be recognised by Celent for recent growth in our customer base and it is a vote of confidence in our strategy."Colm Kennedy, Executive Vice President Americas at Munich Re.
Customer feedback cited in Celent’s report recognizes Munich Re’s skilled and knowledgeable staff, ongoing improvements to the system and a strong, configurable base system. "The ALLFINANZ solution is a strong solution that can meet the needs of any insurer wanting a full new business and underwriting suite or just components." concludes the report.