Swiss Re Launches AI-powered Underwriting Assistant in Life Guide Update
Zurich, Switzerland – This Monday, Swiss Re has announced the launch of a new, AI-enhanced version of its underwriting manual, Life Guide. The latest iteration includes the Swiss Re Life Guide Scout, a Generative AI-powered assistant, aimed at transforming the efficiency and accuracy of underwriting in the life and health insurance sectors.
Life Guide Scout, developed by Swiss Re and powered by Microsoft Azure OpenAI Service, provides rapid answers to underwriters. This integration is designed to streamline the complex process of life and health insurance underwriting, where precision and speed are crucial. The AI tool responds to natural language queries, pulling from a vast pool of curated expert knowledge, thus significantly reducing the time underwriters spend searching for information.
Julien Descombes, Chief Underwriting Officer L&H Re at Swiss Re, expressed enthusiasm about the advancement, stating, “We are excited to bring Generative AI to our clients who can now leverage this new feature to improve their underwriting process. Our ambition is to provide insurers access to the risk perspective we have built into Life Guide in an even more efficient and user-friendly way to help them continue to write sustainable business and deliver on their promises.”
Collaboration with Microsoft Enhances Capabilities
Catrin Hinkel, CEO of Microsoft Switzerland, highlighted the benefits of the partnership, noting, “By integrating Microsoft Azure OpenAI, Swiss Re can unlock the power of advanced analytics and Generative AI to provide new capabilities to the insurance market through a secure, compliant, and reliable cloud environment.”
The Swiss Re Life Guide Scout is currently launched as a pilot program in English, with plans for a broader rollout scheduled later this year. This strategic enhancement underscores Swiss Re’s commitment to leveraging cutting-edge technology to refine risk assessment processes and support sustainable business practices among its clients.