Swiss Re enhances Life Guide with AI underwriting assistant

Swiss Re has introduced an upgraded version of Life Guide, now featuring Swiss Re Life Guide Scout, a Generative AI-powered underwriting assistant aimed at enhancing efficiency and quality in underwriting.

Life Guide, Swiss Re’s manual for Life & Health (L&H) underwriting, serves to provide clients with insights into current and future risks, empowering them to make informed decisions and build resilient portfolios.

The enhanced version, equipped with Swiss Re Life Guide Scout, enables underwriters to make professional queries and promptly receive Artificial Intelligence (AI)-generated responses along with the source of information, all within seconds. This streamlined process facilitates quicker, more accurate decision-making and enhances knowledge transfer.

Swiss Re Life Guide Scout leverages the Microsoft Azure OpenAI Service, unlocking deeper insights to support improved human decision-making capabilities.

This updated version represents a significant advancement in L&H underwriting. Traditionally, this process involves navigating complex information to assess an applicant’s risk profile. With the new features, underwriters can expedite this process, saving time typically spent searching and reviewing information using standard tools.

Julien Descombes, Swiss Re’s Chief Underwriting Officer L&H Re, states, “We are excited to bring Generative AI to our clients who can now leverage this new feature to improve their underwriting process.”

Descombes adds, “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.”

Catrin Hinkel, CEO Microsoft Switzerland, explains, “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.”

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