In a series of articles focused on the use of AI in Life & Health Underwriting (UW) and Claims, Swiss Re highlights key considerations for utilising AI in business and help break down concepts for those that may be new to AI. Swiss Re discusses the notion of Responsible AI and also share practical lessons from its experiences using AI and how it can help move forward in Life & Health insurance.
Unpacking the power behind two letters
In the first article of the series, Swiss Re explores the transformative role of artificial intelligence (AI) in life and health insurance. The article examines what AI is, the difference between traditional AI, which uses structured data for specific tasks, and generative AI, which uses less structured data and can create new content. Each model has its strengths, and there are opportunities to leverage both types of AI in life and health, but with new opportunities come challenges and risks.
The challenges around AI include ensuring fairness, transparency, and regulatory compliance, while managing risks like biased outputs, misinformation, and data privacy concerns. There is a continued need for human expertise, collaboration between teams, and investment in upskilling to ensure AI tools are used responsibly and effectively
Responsible AI: what it is and why it matters for Life & Health insurers
In the second article, Swiss Re highlights the growing importance of Responsible AI (RAI) in the life and health insurance sector. As artificial intelligence becomes more integrated into insurance operations, the article explores the need for ethical and regulatory safeguards to ensure fairness, transparency and accountability.
Key RAI principles are outlined, including explainability, safety, privacy, and security, which are essential to building trust with consumers and regulators. When applied effectively, these principles can help insurers enhance customer service, drive innovation and improve operational efficiency.
Get claims smart: Using AI to transform your Life & Health insurance claims management
In the third article, Swiss Re explores how artificial intelligence is reshaping claims management in life and health insurance. It focuses on how technologies such as Optical Character Recognition (OCR) and Natural Language Processing (NLP) are being used to digitise and structure unstructured data, including medical records and death certificates. These tools help streamline the claims process and improve both speed and accuracy.
AI models also assist with claims triage, detect anomalies, and identify patterns, enabling more efficient decision-making and resource allocation. These innovations offer insurers the opportunity to enhance customer experience while reducing operational burdens.
Despite these benefits, the article stresses the importance of maintaining a "human in the loop" approach. Human expertise remains vital to ensure that AI outputs are applied appropriately and ethically. Swiss Re also underlines the value of Responsible AI principles, including fairness, transparency and accountability. High quality data and strategic partnerships are presented as key enablers for successful AI implementation.
An Expanded Role for AI in Life & Health Predictive Underwriting
In this article, Swiss Re examines how artificial intelligence is enhancing predictive underwriting in life and health insurance. The article explores how AI models can process large and complex datasets to support more accurate risk assessment and enable faster, more personalised underwriting decisions.
This data-driven approach reduces the reliance on traditional manual processes and allows for greater precision in evaluating applications. It also improves operational efficiency and can lead to more competitive and customer-focused insurance products.
As with other applications of AI, challenges remain. AI is a transformative asset in underwriting, with the potential to drive better outcomes for insurers and policyholders alike, provided it is used thoughtfully and responsibly. The principles of Responsible AI are central to this vision, helping to guide ethical use and maintain public trust.
This abridged version of AI in Life & Health has been reproduced with the kind permission of ICMIF Supporting Member Swiss Re. You can find the original article series here.
These articles were authored by Doug Rix, Head of UW R&D Core & Innovation, CUO L&H Reinsurance, Swiss Re; Aspasia Angelakopoulou, Product Innovation Manager, CUO L&H Reinsurance, Swiss Re; Nora Leonardi, Senior Treaty UW Data & Analyst, COO P&C Reinsurance, Swiss Re; Maura Feddersen, Behavioural Research Manager, CUO L&H Reinsurance, Swiss Re; and Mark-James Gill, Global L&H Claims Product Manager, CUO L&H Reinsurance, Swiss Re.
Disclaimer: We recommend you discuss your own use of AI & rules engines with your legal / compliance team considering local AI definition(s).
Although all the information discussed this article was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the information given or forward-looking statements made. The information provided and forward-looking statements made are for informational purposes only and in no way constitute or should be taken to reflect Swiss Reʼs position, in particular in relation to any ongoing or future dispute. In no event shall Swiss Re be liable for any financial or consequential loss or damage arising in connection with the use of this information and readers are cautioned not to place undue reliance on forward-looking statements. Swiss Re undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Published May 2025
