Introducing allfinanz

Allfinanz extends its client base in Japan by offering its automated underwriting solution to AIG Edison Life Insurance. This fast and paperless new business processing and point-of-sale underwriting solution will dramatically reduce the waiting time for Japanese life insurance applicants. Allfinanz is the leading provider of such solutions in Japan and globally.

AIG Edison is a thought leader and market innovator within the Japanese life insurance market. To remain at the forefront of this industry, AIG Edison has made significant investment into sourcing the best solution available to allow the company to improve its operational efficiency and to streamline their new business process.

"AIG Edison's choice of partner further validates the success of the Allfinanz solution in the Japanese market. Tailor-made to the local business environment, our product offers the opportunity to lower costs and provides faster access to profitable new business," said Yoichi Hayashi, Allfinanz Head of Business Development Japan. He adds,"I appreciate the faith that AIG Edison has put in Allfinanz to successfully deliver this project on time and to budget."

AIG Edison provides life insurance services to the Japanese market through 3500 sales people and agents. It operates as a subsidiary of American International Group, Inc.

"Following a lengthy and rigorous selection process of the market offerings available globally, the Allfinanz solution was chosen as the only provider that would meet our demanding requirements for this exciting development in the Japanese life insurance market. It offers the most flexible technology platform as well as an unequalled track-record of successful project implementation. This new project underlines AIG Edison's commitment to market leadership, innovation and high quality customer service," said Mr Toru Futami Managing Director, Senior Vice President and CIO of AIG Edison Japan.

He adds, "we pride ourselves on being one of the most productive companies in Japan and this project has allowed us to gain a competitive edge by streamlining the new business application process for all our sales distribution channels, while enhancing risk management in the life insurance business and building a solid foundation for future sustainable growth."

The easy-to-use Allfinanz product suite offers the Japanese market's most comprehensive application rule set, specifically adapted to the client's needs. Through these quality measures Allfinanz is allowing the world's most agile life insurers to more intelligently and effectively process new business and derive underwriting decisions.