Swiss Re Launches Gen AI-Powered Underwriting Assistant Life Guide Scout

Debuting in an English language pilot, Swiss Re Life Guide Scout augments the company’s existing underwriting manual Life Guide with a Gen AI-powered assistant that aims to help increase underwriting quality and efficiency.

(Image source: Swiss Re.)

Swiss Re (Zurich) has launched an augmented version of its Life & Health underwriting manual Life Guide. The new version comes equipped with Swiss Re Life Guide Scout, a Generative AI-powered underwriting assistant, developed by Swiss Re, that integrates Microsoft Azure OpenAI Service. Swiss Re Life Guide Scout aims to help increase the efficiency and quality of underwriting by generating answers rapidly compiled from curated expert knowledge in response to questions asked by the underwriter in natural language, according to a Swiss Re statement. Swiss Re Life Guide Scout has been launched as a pilot program in English, with a wider roll-out planned for later this year.

Julien Descombes, Chief Underwriting Officer, L&H Re, Swiss Re.

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

Life Guide Scout enhances the ability of Life Guide to meet the challenges of Life & Health insurance underwriting, a complex process that requires accurate and up-to-date information to assess and insurance applicant’s risk. To make the right decisions, underwriters invest significant time in searching and reviewing information using standard search tools to identify relevant sources and facts.

Faster, More Precise Decisions

Catrin Hinkel, CEO, Microsoft Switzerland.

Swiss Re touts Life Guide as the world’s number one Life & Health underwriting manual, helping clients understand current and future risks, so they can make informed decisions, and build strong, sustainable portfolios. The augmented version of Life Guide, now equipped with Swiss Re Life Guide Scout, supports underwriters in speeding up risk assessment through the power of generative AI. Swiss Re Life Guide Scout allows underwriters to make professional queries, receiving an AI-generated answer and the source of information, within seconds, the Swiss Re statement relates. This facilitates them to make faster, more precise decisions and improves knowledge transfer. With a solid data foundation and advanced analytics capabilities, the integration of Azure OpenAI Service unlocks deeper insights for improved human decision making, Swiss Re says.

“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,” says Catrin Hinkel, CEO, Microsoft Switzerland (Kloten, Switzerland). “This powerful combination empowers Swiss Re to share their risk insights with clients, transforming the way they manage risk.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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