Max Life Insurance Company Ltd has announced a strategic partnership with Swiss Re, to integrate their innovative Digital Health Underwriting (DHU) solution into its digital operations. This collaboration significantly enhances Max Life’s underwriting capabilities and provides a seamless, faster customer onboarding experience.
Max Life has been at the forefront of digital underwriting, leveraging advanced automation, and this partnership aligns with the Company’s commitment to delivering quick and seamless customer experience. Swiss Re’s DHU solution automates technical underwriting, using advanced technology to analyse multiple stacks of medical records and lab results concurrently. By providing real-time underwriting decisions and faster turnaround times, the solution enables more accurate automated underwriting assessments, thus reducing errors.
Additionally, integrating DHU allows Max Life to harness and analyse extensive health data from multiple sources, which will be pivotal in refining risk assessments and policy customisation. This data-driven approach will optimise Max Life’s underwriting engine, paving the way for innovative product development and personalised offerings. By aligning technology with its underwriting philosophy, Max Life is setting new benchmarks in operational efficiency and customer service excellence, contributing to long-term business growth.
Manu Lavanya, Senior Director and Chief Operations Officer, Max Life, said “Our partnership with Swiss Re is anchored in our commitment towards customer-centric innovation, empowering us to streamline underwriting processes, automate decision-making, and reduce turnaround times. The integration of Swiss Re’s advanced Digital Health Underwriting solution enhances Max Life’s digital capabilities, marking a pivotal leap in our digital transformation journey. This initiative reinforces Max Life’s position as a digital-first leader in the insurance industry, focused on building innovative, customer-focused solutions.”
Carl Christensen, Global Head L&H Solutions, Swiss Re, said “Insurers are constantly searching for ways to achieve fast, more accurate, and consistent underwriting. Powered by our risk expertise and Life Guide underwriting philosophy, Swiss Re’s Digital Health Underwriting solution is developed by underwriters for underwriters, which means that not only does it support Max Life’s underwriting processes and operational efficiency, but also the end customer experience. We look forward to continuing our work with Max Life to push digital boundaries; and replicating this first-in-market partnership across India and in other parts of Asia Pacific.”
The partnership with Swiss Re reflects Max Life’s dedication to adopting global best practices and utilising cutting-edge digital solutions to propel business transformation. As the insurance sector in India witnesses an upsurge in digital health data availability, Max Life’s adoption of Swiss Re’s DHU platform showcases its proactive approach in delivering high-quality, customer-focused insurance solutions.