Smarter life underwriting through patented automation
In an industry where precision and speed are paramount, underwriting has long been a balancing act between risk accuracy and operational efficiency. But with the expansion of alitheia, a rapid risk assessment platform from Munich Re Life US, carriers now have more flexibility than ever to automate without compromise.
In a landscape where underwriting must evolve to meet rising consumer expectations and the drive toward automation, alitheia stands as a beacon of what’s possible when data science, machine learning, and Munich Re’s deep risk expertise converge.
Modular flexibility meets strategic integration
alitheia offers a modular platform that supports a wide range of risk assessment capabilities. Carriers can adopt it as a full end-to-end solution or integrate specific components – such as predictive models, configurable rules engines, and underwriter workbenches – into their existing systems.
Carriers have seen instant offer rates climb to 50%, tripling industry averages. And with decisions made within 48 hours in 75% of cases, the platform is setting new benchmarks for underwriting speed and accuracy. [1]
Patented innovations that power smarter automation
Backing these capabilities are newly awarded U.S. patents for proprietary methods that optimize the sequence of underwriting requirements and interpret free-form text using advanced natural language processing (NLP). These innovations help carriers streamline workflows, reduce costs, and accelerate decision-making, while maintaining rigorous risk standards.
From bee stings to breakthroughs: Natural language processing that understands context
One of the most compelling aspects of alitheia is its ability to parse and contextualize free-text responses in insurance applications. In traditional systems, benign entries like “I stubbed my toe” could trigger manual reviews, slowing down the process. alitheia’s natural language processing engine maps such responses to a medical ontology, enabling instant decisions for non-medically significant disclosures.
This capability can increase the number of cases processed instantly by an additional 3-5%, reducing reliance on full underwriting and improving applicant experience. [1]
John Hancock puts alitheia to work
John Hancock’s collaboration with Munich Re demonstrates how alitheia can be tailored to a carrier’s unique underwriting philosophy. By leveraging automated EHR assessments and proprietary models, John Hancock is focused on enhancing the buying experience for consumers and agents, as well as greater efficiency for their underwriters, with the goal of delivering faster turnaround times. [2]
Learn more about modernizing with alitheia
Discover how alitheia’s patented technology and modular architecture can support life insurance underwriting. Whether a comprehensive solution or targeted enhancements are needed, alitheia delivers the flexibility and power to help carriers achieve their automation goals.
Sponsored by ITL Partner: Munich Re
[1] Based on carrier experience. Results may vary.
[2] John Hancock Disclosures:
Policy issuance is not guaranteed as any life insurance purchase is subject to completion of an application, including health questions, and underwriting approval. John Hancock may obtain additional information, including medical records, to evaluate the application for insurance; and after the policy is issued, to identify any misrepresentation in the application.
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. MLINY091525144-1
