OPAL.is and WARM’s Pandora platform has integrated with UnderwritingPal (UWPal), the new underwriting engine from RGAX that is launching today.
Pandora, the digital platform of fintech solutions developer WARM used by several global banks and insurer brands, is currently the only end-to-end protection platform to offer access to UWPal in the UK and Ireland.
UWPal is a cloud-based Software as a Service (SaaS) engine that allows a firm’s underwriting rules to be regularly and efficiently optimised to improve performance and incorporate the latest medical insights. Designed to meet the needs of firms ranging from those with limited or no underwriting capabilities to traditional life insurance providers, UWPal uses behavioural science and industry expertise to deliver smarter, mobile-friendly, scalable digital underwriting solutions.
By utilising UWPal, Pandora platform users can experiment with faster, go-to-market products without the need for in-house underwriting or significant IT resource capacity. The UWPal customer interface is easily branded and can be tailored to fit within existing product sets.
By incorporating behavioural science into the platform, distributors and advisers benefit from more accurate risk information which is based on how people actually behave, rather than how they are assumed to behave.
Jensen Nixon, WARM CEO, said: “We are the only end-to-end protection platform to give our users access to UWPal at launch, offering them a competitive advantage. Pandora already allows providers to distribute their products at scale across a range of digital channels, including intermediary CRMs, aggregators and price comparison sites and D2C channels. Our integration with UWPal means Pandora continues to lead the market”.
Jonathan Hughes, Managing Director, RGAX LLC (EMEA), said: “At RGAX, we have the privilege of working with many exciting start-ups and digital distributors across the globe. We have found that many of them want to tap into complementary digital underwriting services so that they can focus on their core proposition. That’s why we built UWPal, a ‘plug and play’ underwriting solution for the digital age. The integration with WARM and OPAL’s platform further enhances the proposition and opens up exciting opportunities to serve our partners”.