SCOR Details AI's Role in Augmenting Underwriters
Global reinsurer SCOR has detailed the impact of its AI-powered underwriting assistant, which it says improves triage speed and risk assessment. The company emphasized that the system is designed to augment, not replace, human underwriters by handling repetitive screening tasks, allowing experts to focus on complex, judgment-based cases.
- The proprietary system, named "AI Assistant," is a generative AI-powered, cloud-based solution developed internally by SCOR's underwriters and claims experts. - Initially piloted with a select group of medical underwriters in 2024, the tool is now used daily by over 150 of SCOR's underwriting and claims specialists. - The AI Assistant is part of SCOR's "Forward 2026" strategic plan, which emphasizes digital transformation to get the company "future-ready". - The system processes approximately one million pages of documents each month, achieving around 90% accuracy across key data fields. - For medical underwriting in its Life & Health division, the AI Assistant has already demonstrated a 30% reduction in time spent on assessments. - The technology is capable of extracting key information from a wide variety of documents, regardless of the language, length, or complexity, and can even process handwritten text. - Beyond internal use, SCOR is now offering the AI Assistant as a solution for its clients to help them streamline their own underwriting and claims processes. - The tool is designed to work in a "human-in-the-loop" model, where underwriters always remain in control to supervise, review, and correct the AI's output.
