“FWD Group and Microsoft innovate AI-driven insurance experiences together.”

February 28, 2024
1 min read

TLDR:

  • FWD Group Holdings Limited and Microsoft have extended their partnership for four years to shape the future of AI-driven insurance experiences.
  • This collaboration aims to provide FWD access to the latest generative AI innovations, enhancing operations and customer experiences.

FWD Group Holdings Limited and Microsoft have announced a four-year extension to their partnership aimed at shaping the future of AI-driven insurance experiences. The collaboration will provide FWD access to the latest generative AI innovations, specifically leveraging Microsoft’s Azure OpenAI Service and other enterprise-grade solutions to drive AI initiatives across acquisition, marketing, underwriting, and claims processing. Ryan Kim, Group Chief Digital Officer of FWD Group, emphasized the importance of digital innovation in transforming the insurance sector and expressed excitement for the new industry use cases and standards that will evolve from the partnership.

FWD Group, known for its customer-centric approach in Asia, has been actively pursuing its AI journey since 2019, with nearly 200 active AI models deployed across its business. The company’s dedication to leveraging AI reflects its commitment to simplifying and enhancing the insurance journey for customers across Asia. Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, highlighted the transformative power of AI in the financial services industry and emphasized the company’s commitment to empowering customers in the Asia Pacific region through generative AI capabilities in a responsible manner.

The partnership between FWD Group and Microsoft signifies a strategic collaboration to drive innovation, enhance customer experiences, and shape the future of AI-driven insurance experiences. The use of advanced AI models and cloud capabilities is expected to propel FWD’s operations and foster growth in the insurance sector, ultimately benefitting millions of customers in Asia.

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