Swiss Re, a leading global re/insurance provider, has announced that it will deploy mea Platform‘s GenAI solution across its insurance and reinsurance operations.
This collaboration builds on a successful relationship initiated in July 2023 when Swiss Re selected mea for its Corporate Solutions business.
The partnership has grown significantly as it enters its second year, with Swiss Re now extending mea’s capabilities to its property and casualty (P&C) reinsurance operations.
The decision follows rigorous testing of mea’s technology, which was found to offer solutions that few competitors can match.
mea leverages GenAI to simplify complex insurance processes. Its proprietary solution, Ora, uses advanced natural language processing and machine learning to extract structured data from unstructured formats like Excel spreadsheets and PDFs.
This capability is particularly valuable for handling intricate documents, such as Schedules of Value (SOV) and Loss Runs, allowing Swiss Re to process data more efficiently, reducing the time and resources required.
Swiss Re, headquartered in Zurich, is one of the world’s leading reinsurance companies, with a strong focus on digital innovation.
The company sought a robust and innovative platform to support its ongoing digital transformation, and mea’s GenAI technology fit the bill.
By streamlining the processing of reinsurance data, mea’s platform enhances Swiss Re’s capabilities and enables more efficient operations.
For mea, this expanded contract with Swiss Re represents a significant milestone. The company’s GenAI solutions have been instrumental in helping insurance firms automate and simplify their operations.
Tarun Kohli, Managing Director & Head Group Delivery Services, Swiss Re, said, “We are pleased to announce this partnership with mea which comes off the back of successful pilots across our reinsurance and insurance operations. We went through a rigorous selection process to identify a platform that is both innovative and mature enough to complement our state-of-the-art tech stack. mea’s capabilities have proven to be the right fit for us as Swiss Re is continuing its digital transformation journey.”
Marc Werder, Managing Director & Chief Innovation and Transformation Officer at Swiss Re Corporate Solutions, added, “With its GenAI-powered platform, mea’s technology helps us further enhance our data capabilities and simply processes where needed. The expansion of this partnership is part of our commitment to continuously optimising our business operations and driving innovation across the organisation.”
Martin Henley, CEO at mea, remarked on the milestone, “We are thrilled to deepen our partnership with Swiss Re. This selection and expansion demonstrate the value and efficiency our solution brings to both Reinsurance and Insurance operations. We’re just scratching the surface of what’s possible, and we look forward to continuing to innovate and deliver value for Swiss Re.”
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