New cloud-based risk assessment capability enables fast, consistent decisions at point of sale and a smoother customer experience
Mapfre Msv Life has announced the adoption of SARA, a state-of-the-art, digital underwriting and risk assessment solution from Munich Re, designed to modernise life insurance underwriting and accelerate new business in Malta.
Built on Munich Re’s underwriting expertise and powered by ALLFINANZ − the cloud-native platform for digital underwriting and analytics − SARA delivers a continuously evolving rulebook to drive profitable decisions.
Delivered as a SaaS solution, SARA has been seamlessly integrated into Mapfre Msv Life’s systems via API, enabling the company to scale its digital underwriting capabilities quickly, securely and with confidence.
A first-mover step for Malta
The Maltese life insurance market is seeing rising customer expectations for digital, instant and more transparent journeys. With SARA, Mapfre Msv Life brings a proven model of automated underwriting to Malta, helping to reduce friction during application, improve decision consistency and strengthen the overall customer experience.
SARA can underwrite more than 90% of life insurance applications at point of sale in under two minutes, while supporting a more personalised experience for applicants.
By adopting modernised automated risk assessment at the point of sale, Mapfre Msv Life aims to: accelerate application decisions and reduce time to cover; increase consistency in underwriting outcomes and reduce operational rework; improve customer experience by reducing friction in the buying journey; and build an underwriting foundation with innovation potential for deeper analytics and AI enhancements
Elvira Lopez de Lara Merida, CEO, Mapfre Msv Life, said: “Launching SARA is a major milestone for Mapfre Msv Life and a meaningful innovation step for the Maltese life insurance market. It strengthens our ability to deliver fast, consistent decisions at the point of sale. This will help customers get covered sooner and enabling our teams and distribution partners to focus on advice and service rather than administration.”
Carlos Rodríguez García, head of L&H Propositions Development, Southern Europe and Latin America, Munich Re, said that life insurance underwriting is undergoing “a fundamental shift”.
“What was traditionally a source of friction for customers, intermediaries and distributors is becoming a strategic lever for sustainable, profitable growth. With SARA, we are driving this transformation at industry level, and we are especially pleased that trusted partners such as Mapfre Msv Life have chosen to lead this change alongside us,” he said.
Alby van Wyk, chief commercial officer, Munich Re Automation Solutions, added: “Moving from on-prem software to cloud-native underwriting capabilities is an important step for insurers looking to innovate.
“The ALLFINANZ SaaS platform not only enables faster updates with minimal disruption but also creates a strong foundation for ongoing enhancements, embedded AI capabilities and future underwriting innovation. We commend Mapfre Msv Life’s forward thinking and drive to deliver a modern insurance experience.”
