Austral RE partners with Samplemed to launch LUA: the new Life Underwriting Saas for Insurers, powered by s.360
Without measuring efforts to offer the best to its customers, Austral RE announced the launch of its newest risk underwriting platform in SaaS format. The inauguration took place with a special cocktail party on end of May at a private event at one of its offices, in São Paulo.
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The L.U.A. (Life Underwriting Assessment) comes to market through a partnership between the reinsurer and Samplemed, a company that provided all underwriting technology and intelligence behind the new system, including a new Life Underwriting Manual and Accelerated underwriting channels.
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The new partnership goes beyond a technological exchange, as both companies share values: creative knowledge, technology, innovation, responsibility and the will to contribute to the growth or a well-equipped and well-informed insurance market.
In an interview in September 2022, the Head of Life and Health, Alessandra Monteiro, already demonstrated that the reinsurer had understood the needs of the its LATAM market, at that time, behind the scenes the LUA project was being conceived:
“Innovating with customization of services and technological apparatus contributes to the customer loyalty process. We want to bring something really smart to the market that positively impacts our customers’ routine.”
In addition to the face-to-face announcement, the reinsurer communicated to its LinkedIn followers the arrival of this new offer for insurers as follows:
“[the platform] will streamline Underwriting using modern technology and improving the quality of case reviews. Our Life Underwriting Assessment (LUA) is partnered with Samplemed, the largest and best provider of medical intelligence and underwriting services. So, it is a huge Milestone for all of us.”
The technology behind the LUA
Called s.360, the ecosystem created by Samplemed is the technological base of LUA. It provides an intelligent underwriting workbench with automation features for all types of subscription media. Its basic concept is an underwriting of risks for people that embraces all types of life products, as well as having tools that give autonomy when creating insurance and inputs to go further in your analyses.
“It is a pleasure to take this initial step of bringing Austral RE into the underwriting future. We really believe in our product and we are very pleased with the high acceptance of the market.” – Luanna Eroles, Partner and Head of Products at Samplemed
TOP 3 – Innovative advantages of LUA s.360:
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An ultimate underwriting workbench: all underwriting channels in one place: predictive models, automated underwriting, tele interviews, paramedical exams, medical opinion. The data of all applicants is centralized and the flows distribute the cases autonomously.
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Data-driven philosophy: The system has a unique risk bank and an underwriting manual just a click away. At the moment, the tool has 2,840 life risk charts, all with unique identifiers that allow all medical data to always remain interpretable and structured for statistics, as well as more than 9 automatable subscription rules for dynamic questionnaires – including medical risks, of lifestyle, sports and profession.
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Future-proof: more than rigid reports, the environment delivers a data lake that merges the insurer’s data with Samplemed’s structured data so that it can go further in future products. It is a modern concept that makes Insurers prepared for the best in the market.