Munich Re Specialty launches Kalepa’s Copilot

Share
Kalepa is a leading provider in the InsurTech sector
Munich Re Specialty – North America has integrated Kalepa’s Copilot underwriting platform to improve risk analysis and broker experience

Munich Re Specialty – North America has integrated Kalepa’s Copilot underwriting platform to enhance risk analysis and streamline operations. The Copilot platform provides underwriters with comprehensive insights and critical submission management capabilities.

Copilot's user-friendly interface and sophisticated analytics capabilities will pair with Munich Re Specialty – North America to enhance growth and profitability metrics, as well as improve the broker experience. The integration of advanced analytics is pivotal in refining decision-making processes and strategic initiatives, ultimately leading to more effective risk management and operational efficiency.

Kalepa is a leading entity within the InsurTech sector, delivering state-of-the-art technological solutions tailored for risk assessment and underwriting processes, where Munich Re Specialty – North America is a reputable provider of insurance and reinsurance services.

Munich Re exhibited robust financial performance in the first quarter of 2024, with insurance revenue surging to US$16 billion. Its reinsurance operations and the ERGO International segment mainly drove this growth. The company achieved a net profit of US$2.2 billion and recorded an impressive combined ratio of 75.3% in property and casualty (P&C) insurance

Kalepa's high-profile collaborations

Kalepa announced that Munich Re Specialty – North America has deployed Kalepa’s award-winning Copilot underwriting platform to enhance risk analysis, critical submission management capabilities, and document ingestion. Munich Re Specialty – North America sought state-of-the-art technology for expert risk assessment and underwriting operations to support their rapid expansion in the United States. With its cutting-edge technology and intuitive interface that provided a deeper understanding of exposures, Copilot offered the best-matched solution for Munich Re Specialty – North America.

This is also not the first of Kapela's high-profile collaborations. A recent partnership with Paragon Insurance Holdings LLC, one of the fastest growing national multi-line MGAs, has also recently expanded its use of Kalepa’s AI-powered Copilot underwriting platform to support its Workers’ Compensation, Specialty Property, Small Construction and Contractors, and Auto Dealers programs. Paragon had initially deployed and expanded its use of Copilot in the summer of 2023. The expansion to supporting four other programs is a testament to Copilot’s ability to deliver underwriting excellence across all commercial lines of business.

“At Munich Re Specialty – North America, we prioritise attracting world-class talent and enabling our teammates to leverage cutting-edge technology to drive action. Deploying Copilot supports our action and service orientation with underwriting insights, efficiency in operations, and quicker decisions, which allows us to enhance our broker experience while optimising growth and profitability,” says Sabrina Hart, President and CEO of Munich Re Specialty – North America.

“We are thrilled to partner with an industry leader like Munich Re Specialty – North America, and we are excited about the value they have already achieved with Copilot. Our Copilot underwriting platform is the solution various insurers trust to deliver the growth and profitability outcomes they seek,” adds Paul Monasterio, Kalepa CEO.

**************

Make sure you check out the latest industry news and insights at InsurTech Digital and also sign up to our global conference series - FinTech LIVE 2024

**************

InsurTech Digital is a BizClik brand 

**************

Share

Featured Articles

Strategic alliance aims to strengthen South West England's insurtech ecosystem and accelerate regional innovation through local collaboration & expertise

California Insurance Wholesalers Association creates two specialist committees to address representation & technological innovation in surplus lines sector

Edenred introduces solution to speed up claims process for policyholders through virtual payment cards integrated with mobile wallet technology