Overview
ALLFINANZ SPARK delivers a core new business toolkit enabling your organization to rapidly digitize your insurance service delivery, streamline processes and explore valuable new opportunities. The solution’s core capabilities include similar functionality to that of ALLFINANZ NOVA, but in a more standardised configuration. And with the pre-configured underwriting rulebook it helps accelerate the implementation and time-to-market. The rulebook enables you to automate routine decisions and sign quality new business fast. An easy-to-use Rules Designer tool allows configuration of the solution to your specific underwriting philosophy (with new rules and rule changes published instantly), and all without necessary IT or vendor involvement. Support for multiple benefit types to improve, innovate and deploy new products and channels across multiple languages so you can sell how and where you want. Easy integration to reduce the need for manual underwriting through straight through acceptance of evidence with internal and external third-party data providers, accelerating decision making and improving the customer experience. Business insights to help you understand how your business is performing and quickly identify areas for improvement. You can apply excellence and consistency in underwriting by harnessing new sources of insight from day one.
Key Features
ALLFINANZ SPARK modules & capabilities include:
The tools and capabilities you need – ALLFINANZ SPARK delivers a core new business toolkit enabling your organisation to rapidly develop your digital insurance capabilities, streamline processes and explore valuable new opportunities. The solution’s core capabilities include:
- Pre-configured rulebook - A pre-configured underwriting rulebook to help accelerate your implementation and time-to-market. The pre-configured rulebook enables you to automate routine decisions and quickly sign quality new business.
- 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.
- 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.
- Business insights - to help you understand how your business is performing and quickly identify areas for improvement. You can apply excellence and consistency in underwriting by harnessing new sources of insight from day one.
Key Benefits
Why ALLFINANZ SPARK?
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 data-management 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. Low set-up and maintenance costs. Quick time to market. Access to Munich Re expertise. Secure solution. Turn-key scalability. Flexibility: Best practice deployment models to ensure high performance and low latency.