SCOR Deploys GenAI for Underwriting

- SCOR's proprietary system is named AI Assistant; it was piloted internally in 2024 and is now used daily by over 150 of the company's underwriting and claims experts. - The tool currently processes around one million pages each month with approximately 90% accuracy across key data fields, and has already achieved time savings of 30% for medical underwriting in Life & Health. - The collaboration with Verisk on its EHR Triage Engine is a long-standing partnership that began in August 2020. The engine is capable of evaluating 95,000 medical impairments in five minutes or less, which can help qualify as many as 85% of applicants with minimal to no human review. - The GenAI tool is part of a larger strategic platform called SCOR Digital Solutions, which also houses its automated underwriting suite (Velogica), a digital claims solution (VClaims), and a predictive modeling solution (BeeTech). - This initiative is a core component of the reinsurer's "Forward 2026" strategic plan, which is focused on digital transformation to make the company future-ready. - According to SCOR's Chief Data & Analytics Officer, Sofia Kyriakopoulou, the approach is to keep a "human in the loop" to validate the information extracted by the AI and augment their employees' expertise. - The GenAI solution will be integrated with SOLEM, SCOR's existing underwriting manual, to pre-select decision proposals in rating grids based on the information captured from medical evidence. - Beyond its own operations, SCOR has also joined a global insurance facility to provide coverage for AI and data center infrastructure, acting as the lead insurer for the environmental impairment liability component.