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ALLFINANZ NOVA

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Overview

The revolutionary way to grow your insurance business. ALLFINANZ NOVA is the digital new business solution designed for the real world of modern life and health insurance. As a modular SaaS-based solution, it delivers complete end-to-end capabilities across pre-assessment, eAPP, automated underwriting, manual underwriting, analytics and predictive underwriting, with advanced integration tools. Put an end to manual processes that slow your operations and cost you money. Free your business from the limitations of expensive, hard-to-recruit people. Automate both routine and complex decisions, letting your underwriters focus on cases and processes where they can add the most value. Enable simple and configurable, real-time access to alternative internal and / or external data sources, as well as predictive models. Make faster, more accurate decisions. Demonstrate consistent, evidence-based decisions to ensure compliance with key industry regulations. Easily integrate into existing systems to increase visibility into your overall business strategy. Immediately analyse the performance of your solution performance versus KPIs and identify opportunities for on-going improvements. Grow your business your way. Its modular design means you can run your revolution your way. While you’ll certainly benefit from the insights we’ve gained from working with leading insurers for over 30 years, we won’t force you into a one-size fits-all solution. You decide how you want to work. It gives you the power and flexibility to tailor your solution to your specific needs and objectives.

Key Features

ALLFINANZ NOVA modules & capabilities include:

  • Underwriting decisioning – automate both simple and complex decisions, accelerate your time-to-cover and free up underwriters’ valuable time.
  • External data and predictive model consumption – extend your underwriting process through consumption and management of predictive models while integrating with third-party data providers. Thus, enabling you to reduce the need for manual underwriting through straight through acceptance of evidence, helping to reach accurate decisions faster and deliver a more compelling end customer experience.
  • Rules design and management – create, adapt and amend your underwriting rules for any data source, risk type, product, channel, language or geography in real time and with no IT or vendor involvement. An easy-to-use rules designer allowing you to customise the solution to your specific underwriting philosophy (with new rules and rule changes published instantly) enabling you to sell how and where you want.
  • Manual underwriting enablement – significantly accelerate manual underwriting by giving your experts the information they need to make more informed timely and accurate decisions. In addition, capture data and decisions that can feed back into the further development of your automated underwriting process.
  • Intuitive interview platform – enables you to design, evolve and streamline the customer interview process to deliver a greatly enhanced customer experience across all digital devices.
  • Business insights and advanced analytics – helping you to make sense of vast amounts of data, giving you actionable intelligence and deep insights into the performance of your business via easily consumable dashboards and reports

Key Benefits

Why ALLFINANZ NOVA?

On-boarding and on-going operational support. Easy integration with data providers. Automatic updates and data recovery Infrastructure requirements handled by Munich Re. Secure and reliable infrastructure. Comprehensive datamanagement policies for the handling and control of sensitive data. ISO 27001 Certified. Robust operational support and system management 24x7. 30+ years providing secure solutions to the Insurance sector. Best-in-class technology now available as a digital service. Tailored to the specific needs of the new business process, your systems and IT and configured for the needs of your lines of business and distribution channels. Access to Munich Re underwriting expertise. Secure solution. Flexibility: Provides comprehensive API's that help you adapt the service to the needs of your business - and not the other way round, in addition to best practice deployment models to ensure high performance and low latency.

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