Magnum
Through Magnum, Swiss Re has harnessed technology to effectively automate the underwriting process and create one of the world's leading life and health underwriting systems.
By automating the process of providing an initial underwriting decision and generating any further evidence requests, this real-time tool adds value to our clients by bringing lower underwriting costs, faster turnaround and a better service for all parties in the value chain.
Underwriting through Magnum can be based on Swiss Re's own underwriting philosophy, or can be customised to reflect our clients’ particular products, distribution methods and underwriting practices.
From wherever an application is submitted – from the point of sale in a branch, from a call centre, on a sales consultant’s laptop or via the web – Magnum ensures that the customer can be given a swift decision.
If the customer is present, Magnum uses point-of-sale underwriting rules, whereby the system’s dynamic functionality ensures that questions put to the customer are confined to those relevant to their application so that the proposal is processed with the minimum amount of additional evidence. Where the applicant is not present at the point of sale, the underwriting decision is handled according to head-office rules, using the information supplied in the proposal form and any attached questionnaires.
Where cases are not accepted at ordinary rates, the system can return a decision to rate, decline or generate a request for further information. For complex cases, Magnum can refer the details directly to an underwriter, ensuring that underwriters’ attention is focused where it is needed most.
Streamlined Underwriting
Swiss Re and Portrait Software have worked together to produce a demonstration of an integrated electronic underwriting solution. This combines the power of Portrait's customer interaction and process management software together with Magnum's state of the art decision engine and rulebase. A brochure highlighting the features of this solution is available on Portrait's website.
You can find out more about Magnum from your local Swiss Re client manager or from a member of our dedicated implementation team or request a brochure.
Magnum is available in a range of languages, including many European languages, Arabic and Chinese.
Swiss Re combines in-depth global expertise with a local focus, tailored to the individual demands of our clients. The availability of particular products and services depends on local circumstances.
