Exceeding expectations:
alitheia case study

Unprecedented straight-through processing rates lead to impressive sales gains for major carrier

To enable customers to apply for and purchase a custom term life insurance product online, a major carrier turned to alitheia, Munich Re’s transformational risk assessment and instant decisioning platform. The program integrates real-time data with cutting-edge underwriting technology to provide qualified customers with high-quality options at competitive rates. Results to date* have exceeded expectations, vastly improved the customer experience, and positively impacted the carrier’s bottom line. 

Watch the video and read the highlights below to learn more.

With alitheia, insurance carriers are finally able to provide a hassle-free buying experience to their customers – from application and underwriting assessment to a rapid and reliable quote.  

• Improved straight-through processing rates—Increase STP rates from the industry average of around 15% to reach 50%. 

• Limited mortality costs—Keep shared costs for insurance members low, attracting more business. 

• Save time, money, and personnel—Automate decision-making to review a larger customer base, freeing up staff to focus on higher-level tasks. 

• Flexible filing–Save time and enable easy, ongoing updates for a more agile filing process. 

• Regular improvements—Updates implemented every two weeks to incorporate new learnings, while models undergo ongoing audits to help ensure fairness and mitigate bias.