AI-Powered Underwriting? Sun Life & Munich Re Are Making It Happen

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The world of underwriting is changing. Fast. Generative AI is shaking things up, and we’re here for it.

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AI-Powered Underwriting? Sun Life & Munich Re Are Making It Happen

Munich Re and Sun Life Philippines just teamed up. Their goal? Make underwriting faster, smoother, and smarter. Sun Life just went live with ALLFINANZ SPARK, Munich Re's SaaS underwriting platform. Not just for eApplications—this system even handles old-school paper applications too. The result? Quicker decisions, fewer headaches, and a better experience for clients.

Why does this matter? Automation. SPARK streamlines underwriting, slashes cycle times, and cuts costs. With AI-driven insights and predictive underwriting, Sun Life can approve policies way faster while keeping things efficient.

A game-changer for Sun Life

Gaurav Mishra, Sun Life Philippines’ Chief Operations & Digital Enterprise Officer, sees this as a big step toward digital transformation. "We're embracing digital innovation to serve clients better. This aligns with our mission—helping Filipinos achieve financial security and healthier lives."

Munich Re’s Alby van Wyk shares the excitement. "SPARK is a game-changer. It speeds up settlement times, automates underwriting, and boosts real-time decision-making. More automation. Better customer experience. That’s what this partnership delivers."

SPARK isn't just plug-and-play tech—it adapts. The platform has a flexible rules engine, letting Sun Life tweak underwriting rules as business needs evolve. Plus, it integrates third-party data for instant underwriting decisions at the point of sale or in manual reviews.

This partnership isn't just about tech. It’s about changing how insurance works—for the better. Faster policies. Fewer delays. Happier clients. That’s the future Sun Life and Munich Re are building.

Alan’s Growth Streak Continues—The Startup Shaking Up Health Insurance

Alan’s growing up. With 700,000 customers, the health insurance startup isn’t exactly a startup anymore. But it still moves like one.

On Wednesday, Alan dropped some numbers. The biggest flex? Revenue. In 2024, the company pulled in €505 million (about $525 million today).

Insurance, but make it digital

Comparing Alan to your usual tech startup? Tricky. It’s an insurance company first, not just another SaaS product. It offers health insurance in France, Spain, Belgium, and soon Canada.

“The model hasn’t changed,” said co-founder and CEO Jean-Charles Samuelian-Werve. “We aim for a breakeven claims-to-premiums ratio, with a 12-14% membership fee.” Translation? Most of Alan’s revenue comes from premiums, and it takes a cut for management and extra services.

But if you do compare Alan to SaaS? Quick napkin math puts its recurring revenue at €60-70 million ($62-73 million).

Still in the red

Despite a $4.5 billion valuation, Alan isn’t profitable yet. It lost €54 million in 2024, slightly better than €59 million in 2023. But they’re sticking to the plan. “We’re still on track for profitability by 2026,” said CFO Mihaela Albu.

The upside? Growth is scaling efficiently. Headcount only increased by 8% last year. The sales team? Barely changed.

Big moves across Europe

Alan’s been busy. In France, it secured government worker contracts. In Belgium, it partnered with Belfius, the country’s second-biggest bank and insurer. Belfius even invested in Alan and will start offering Alan’s products to its own customers.

AI is everywhere

AI was a big topic at the press event. And Alan’s been putting it to work. Chief Revenue Officer Ludovic Bauplé said AI boosted sales by 50%.

Samuelian-Werve added, “AI cut customer service costs. It sped up code production and unit testing. Even in marketing, we’re making better videos, assets, and campaigns—for less money.”

What’s next?

Alan’s aiming for 40% revenue growth in 2025. The one million customer mark? Expected by early 2026. More AI? Of course. By year’s end, 40% of customer support requests should be fully automated.

They also made a big announcement—health insurance for retirees in France. With 750,000 new retirees every year, it’s a huge market. More customers. More growth. Alan’s not slowing down anytime soon.

Singapore’s Acclaim Teams Up with CyberCube to Tackle Cyber Risk

Singapore’s Acclaim Insurance Brokers just made a big move. They’re teaming up with CyberCube, a leading cyber risk analytics firm. The goal? Supercharge cyber insurance offerings with CyberCube’s Broking Manager platform.

This partnership is all about better tools, and smarter insights. With Broking Manager, Acclaim can help clients evaluate and quantify cyber risks like never before.

Smarter risk assessments

Cyber risks aren’t getting any smaller. And Acclaim’s got a plan. With Broking Manager, their team can now assess cyber threats faster and generate reports to guide clients on coverage and limits.

CyberCube’s Emma Drouineau is pumped. “We’re thrilled to welcome Acclaim as our first partner in Singapore using Broking Manager,” she said. “This platform will help their team deliver deeper insights into cyber exposure and streamline advisory processes.”

A step ahead in cyber insurance

Acclaim’s CEO Tony Lim sees this as a game-changer. “CyberCube’s platform is exactly what we need to elevate our services,” he said. “With Broking Manager, we’ll deliver stronger risk advice and stay ahead in the evolving market.”

This partnership isn’t happening in isolation. Last month, Mathison Insurance Partners also signed a multi-year deal with CyberCube to enhance cyber risk assessments for retail clients.

CyberCube: From Symantec to global leader

CyberCube started inside Symantec in 2015. Now? It’s an independent powerhouse in cyber risk analytics. The company provides over 100 insurance firms worldwide with cutting-edge SaaS tools to measure cyber threats.

For Acclaim, this deal isn’t just about keeping up. It’s about leading the charge in cyber insurance—in Singapore and beyond.

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