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Credit life 

Hannover Re recog­nised credit life early on as a sector that would see a growing demand for rein­surance ser­vices. Today we are a key player in this market.

We have part­nered with banks and banc­assurers in many diffe­rent coun­tries around the world on all types of credit life pro­ducts. This in­cludes tradi­tional credit life pro­ducts cove­ring repay­ments or ba­lances on loans made by banks to their clients against the latter’s death, as well as those cove­ring loans affec­ted by tem­porary or per­manent dis­ability (either partial or total), cri­tical ill­ness, hospita­lisation and even un­employment.

Our clients benefit from our ability to partner effec­tively with them to provide a compre­hensive and respon­sive service at every stage in a pro­duct's design and through­out its life­time. This in­cludes every­thing from market ana­lysis, product design, pricing and reser­ving, to medical under­writing and claims manage­ment. They can also rely on us for expert support on sales and marke­ting, either in bank branches or through tele­marke­ting cam­paigns, and advice on appro­priate levels of remune­ration for partner banks.

This enables us, for example, to partner with banc­assurers to enable them to bring their own credit life busi­ness in-house for the first time, to support their over­seas ex­pansion with locally appro­priate credit life poli­cies, or simply to take advan­tage of opportu­nities in the growing credit life market at home or abroad.

We have the experi­ence and exper­tise to pro­vide effec­tive support on all aspects of credit life, inclu­ding poten­tially hazar­dous product types like those cove­ring short-term dis­ability and/or un­employ­ment, or by offe­ring value-in-force rein­surance trans­actions and sol­vency relief rein­surance. Our clients also benefit from our support with stream­lined under­writing pro­cesses that enable them to take full advan­tage of new distri­bution channels.

Our automated underwriting solution hr | ReFlex offers our clients a modern sales process and helps improving overall process efficiency as well as the risk profile of new business. hr | ReFlex is our life risk assessment system com­bining state of the art functio­nality with excep­tional flexi­bility and ease of use. hr | ReFlex can be quickly and con­veniently inte­grated into banc­assurers’ own sys­tems and fully con­figured to reflect local market con­ditions - resul­ting in better and faster risk selec­tion and under­writing, and signi­ficant process effi­ciency gains. Sub­sequent cost savings will further increase sales.

In short, Hannover Re is well posi­tioned to deliver the full range of support our clients need to achieve the optimum credit life solu­tion for their indivi­dual needs.