Lincoln Financial taps software from Munich Re's insurtech unit

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Lincoln Financial Group has gone live with Munich Re subsidiary Munich Re Automation Solutions's pre-assessment processing tool, ALLFINANZ SPECTRA, in a continuation of insurers opening their own insurtech units.

Leveraging feedback from client insurers and customers, Munich Re launched Automation Solutions to develop the product with the goal of delivering faster service, more accurate quoting and reduced costs.

“With expectations around the customer experience changing almost daily, making the process of purchasing life insurance faster and friendlier is as important as ever,“ shared Dr. John Greene, VP & Chief Medical Director at Lincoln Financial Group. T

he new tool provides instantaneous quotes to advisors on behalf of clients covering more than 200 medical, avocational and occupational risks, without the need to email or call a Lincoln underwriter, Greene continues.

“As part of our commitment to offering a superior digital customer experience, Lincoln collaborated with Munich Re Automation Solutions to integrate SPECTRA into our systems, giving our financial planners and clients access to real-time, accurate life insurance quotes, resulting in a quicker, more efficient underwriting process," he says.

“Lincoln Financial Group’s commitment to simplifying everything and making the process more educational for the benefit of the overall customer stood out to us. We were excited to work with them to provide their customers with a much faster and more informative experience,” states Colm Kennedy, Executive Vice President at Munich Re Automation Solutions.

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Life insurance Automation