Case Studies

Slashing insurance underwriting time - from weeks to minutes.

With stiff competition in the United Kingdom insurance market, HSBC strove to implement a strategy to place it ahead of the rest. By utilising Allfinanz's Front Office underwriting engine features (together with other 3rd party solution providers), policies could be approved in minutes, not days or weeks. This resulted in a drastic reduction in administrative costs.

Moving on the protection market with a Superior Online Offering

Although Standard Life had a reputation for excellent service and a superior product, the need to augment their current pricing policies and commissions to remain competitive ushered in the development of Protection Online. This underwriting process was engineered with some of the key intelligent underwriting capabilities and back office integration from Allfinanz.

A Flexible Offering for Agent with Differing Circumstances.

Prudential enjoyed having one of the most comprehensive eCommerce offerings for advisers across life and pensions. But a weakness in this offering lay in the lack of an online submission and underwriting option. Prudential chose and deployed Allfinanz's Front Office software solution to solve this problem and further automate the processing of new online business.

Moving from "Paper Applications" to the "Telephone" for ALL distribution

By embarking on an overhaul process of its life company's new business operations, Metropolitan employed Allfinanz's Front Office solution to improve efficiencies, reduce costs and enhance the quality of their services to customers while diminishing redundant and non-value adding processes.

Leading Insurer maximizes sales through Banking Institutions

An Allfinanz client had been searching for new distribution avenues for their underwritten products. The Allfinanz software provided a solution by empowering insurance providers to take the customer through the underwriting, sales and acceptance procedures in a controlled manner and in just a matter of minutes.

Founded in 1810, The Hartford Financial Services Group, Inc. (NYSE: HIG) is one of the largest investment and insurance companies in the United States. Recognised for its diverse portfolio of products and distribution networks, The Hartford serves customers through independent agents and brokers, financial institutions, affinity groups and via the Internet. Approximately 11,000 independent agencies and more than 100,000 registered brokers/dealers sell this company's products.

A teleunderwriting research report from Celent, profiles The Hartford as a case study. Click here to request the full report.

An end-to-end solution Allfinanz implemented for a market dominating insurer and their banking partner for the distribution of a full range of insurance and investment products through the bank's branch network. The solution covered, amongst others, the POS screens/applications, automated underwriting, data flow between the two organisations and policy administration.