HSBC to use Allfinanz underwriting technology
February 2004HSBC Bank is to use Allfinanz' xpertBridge technology to automate the underwriting process for the majority of its protection product applications. The range is sold mainly in HSBC's branch network across the UK. xpertBridge will be integrated into the bank's branch banking platform and back-office systems, and could ultimately be used in other parts of the HSBC Group.
Harpal Karlcut, head of life and pensions at HSBC Bank, said: "xpertBridge will enable our branches to quickly and efficiently underwrite and process new business applications, helping to reduce costs in a competitive market. The majority of applications will now be accepted at point of sale, significantly improving the service provided to our customers."
David Wall, CEO of Allfinanz, added: "Our order pipeline continues to grow strongly - this follows on a similar agreement announced recently with Standard Life - and demonstrates the seriousness with which the major players are focusing on reducing costs and improving the process of selling new protection business."
xpertBridge, Allfinanz' 3rd generation point-of-sale system, featuring object-orientated, n-tier design and JAVA 2 Enterprise Edition technology, is being deployed on IBM hardware and middleware.
About Allfinanz
Allfinanz has been providing technology-based solutions to the insurance and banking industry in Europe and North America since 1987. Allfinanz' xpertBridge solution for new business processing and underwriting automation, is rapidly becoming the market leader in its category. Allfinanz counts many of the leading insurers, including top 3 players, amongst its clients in Europe and North America and has been at the very core of enabling these companies to move to a Straight Through Processing (STP) world. Allfinanz is headquartered in Ireland (Dublin) with offices in the US (Richmond, Virginia) and the UK (London).