Allianz Life Insurance Lanka, in a bid to provide their customers with greater convenience, recently launched their automated underwriting platform ‘AUSYS’. The development of the platform is the result of the company’s renewal agenda which focuses efforts to adopt disruptive technology in order to reduce the turnaround time of life insurance applications and provide true customer centricity.
“At Allianz we pride ourselves in providing our customers with excellent and convenient service by utilizing disruptive technology and innovative processes. We continue this tradition with AUSYS which has greatly improved the sales and underwriting assessment process. It has reduced the waiting period from two to three days to a few seconds for an underwriting decision to be given,” said Ruchera Perera, Senior Manager – Life, Allianz Life Insurance Lanka. “The opportunities that AUSYS has provided us are quite substantial and range from widening distribution, increase in advisor productivity, and increase in administrative efficiency to increase in customer satisfaction.”
AUSYS is designed to support all digital insurance applications handled by Allianz’s “Digital Advisors” who transact business via tablets and use a rule-based underwriting engine that integrates with the agent’s portal “Allianz Advisor Arena”. This allows advisors to almost immediately confirm the status of the application to the customer. Since the adaptation of AUSYS, Allianz has accepted nearly 70% of new business cases as a direct result of using the platform. Allianz Lanka is currently working towards enhancing AUSYS features for online policy delivery in the near future.
Allianz Insurance Lanka Ltd. and Allianz Life Insurance Lanka Ltd., known together as Allianz Lanka, are fully-owned subsidiaries of Allianz SE, a world leader in integrated financial services. Having started out as a Greenfield operation in 2005, it has emerged as one of the fastest growing insurance service providers in the country. The company prides on supporting its clients’ business strategy by understanding their risk profile and needs, and providing individual solutions from its world class portfolio of products and services. Around the world, over 140,000 Allianz employees serve some 86.3 million retail and corporate customers in about 70 countries, who place their trust on the knowledge, global presence, financial strength and solidity of Allianz to support them in their moment of truth.