Automation and artificial intelligence (AI) have been utilised by a variety of industries for some time, but their implementation has often been met with a degree of resistance and concern. In this article, we reflect on the value of this technology at Hannover Life Re, particularly, in the realm of medical underwriting.

Automation and AI are innovative tools that improve the delivery of sound practices, provide data insights, remove human error and satisfy an ever-growing regulatory demand. 

Utilising automated underwriting for straightforward cases allows underwriters to spend additional time engaging in client-focused activities, strategic business initiatives and creates headspace for innovation.

It is important to highlight that the intention of automation is not to replace the underwriter, but to enable them to perform at high capacity. Life insurers should welcome automation and AI to facilitate the efficiency of their existing processes.

A VITAL ROLE TO PLAY

Medical underwriters play a key role in the assessment of substandard medical risks, specifically because a ‘one size fits all’ approach does not always apply to medical conditions and individual nuances can result in an underwriter tailoring a more suitable outcome for the customer. 

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