Swiss Re Launches Generative AI-Powered Underwriting Assistant

Swiss Re has launched a life and health insurance underwriting assistant powered by artificial intelligence (AI) and developed in collaboration with Microsoft Azure OpenAI Service. The new feature aims to revolutionize the efficiency and accuracy of underwriting by generating rapid, expert responses to natural language queries from underwriters. 

The guide was developed to facilitate faster risk assessment. Underwriters can pose professional questions and promptly receive AI-generated answers, along with information sources. This capability enables quicker, more accurate decision-making and enhances knowledge sharing to improve human decision-making, according to Swiss Re.  

Catrin Hinkel, CEO of Microsoft Switzerland, said, "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. This powerful combination empowers Swiss Re to share their risk insights with clients, transforming the way they manage risk."