John Hancock Speeds Up Underwriting with Munich Re's alitheia
John Hancock, a U.S. subsidiary of Manulife, has bolstered its ExpressTrack system with alitheia's models, aiming to deliver swift, accurate, and non-invasive underwriting decisions. This move follows a partnership with Munich Re, which enhanced its rapid risk assessment platform, alitheia, to meet John Hancock's specific needs.
Munich Re tailored alitheia for John Hancock after clients sought more flexibility and control. Launched in 2023, alitheia has evolved into a highly adaptable, swift, and collaborative solution. It combines expertise from underwriters, data scientists, and engineers for continuous improvement.
The enhanced alitheia offers a customizable rules designer, underwriting workbench, risk assessment models, and seamless integration with existing systems and third-party data sources. It uniquely handles complex medical data by interpreting freeform text responses and integrating with electronic health records (EHRs). Alitheia's innovative approach has earned U.S. patents for technology-optimized underwriting and natural language processing.
John Hancock's expansion of ExpressTrack eligibility to face amounts up to $5 million now offers more customers a streamlined experience. The partnership with Munich Re seeks to enhance the buying experience for consumers and simplify business for advisors.
John Hancock's integration of alitheia's models into ExpressTrack promises faster, more accurate underwriting decisions. With expanded eligibility and a focus on improving the consumer and advisor experience, John Hancock aims to set a new standard in the industry.
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