FWD Group Holdings Limited and Microsoft have a four-year extension to their partnership that is designed to shape the future of AI-driven insurance experiences.
The collaboration aims to provide FWD access to the latest generative AI innovations. FWD plans to leverage Microsoft’s Azure OpenAI Service and other enterprise-grade solutions to drive its AI initiatives.
By harnessing advanced AI models and cloud capabilities, FWD seeks to enhance its operations and customer experiences across various domains, including acquisition, marketing, underwriting, and claims processing.
Ryan Kim, Group Chief Digital Officer of FWD Group, said, “Digital innovation has always been core to FWD’s vision of changing the way people feel about insurance. This collaboration marries FWD’s pioneering spirit in Asia in some of the fastest growing insurance markets in the world, with the global scale and skill that Microsoft brings in engineering and AI.
“We’re excited to harness more next-generation innovations to develop new industry use cases and standards that we believe will shape the insurance journey of the future.”
FWD Group, a leading pan-Asian life insurance business, is renowned for its customer-centric approach across ten dynamic markets.
The firm has been actively pursuing its AI journey since 2019, with nearly 200 active AI models deployed across its business, encompassing over 600 use cases. The company’s dedication to leveraging AI reflects its commitment to simplifying and enhancing the insurance journey for millions of customers across Asia.
Bill Borden, Corporate Vice President of Worldwide Financial Services, Microsoft, said, “AI is driving transformation across the financial services industry, opening new opportunities for innovation and business growth with agility and at scale. We are thrilled to strengthen our AI partnership with FWD by offering Azure OpenAI Service and Copilot for Microsoft 365 capabilities to enable world-class customer experiences and operations securely and responsibly.
“As a pivotal player in the global financial landscape, the Asia Pacific region stands out for its dynamism and adaptability, fostering continuous growth and driving innovation. We are committed to empowering our customers in the region with generative AI capabilities in a responsible way. With Microsoft’s enterprise-grade AI advancements, we are helping the financial services ecosystem accelerate innovation to drive operational efficiency and greater value creation to customers.”
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