Manulife has made significant strides in Generative Artificial Intelligence (GenAI), unveiling initiatives aimed at transforming business processes and improving customer service, especially in Asia. Following its recent Investor Day, the company announced a major leap in AI integration, beginning with its rollout in Singapore.
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Pioneering AI in insurance
Manulife is positioning itself as a leader in AI adoption within the insurance industry. By integrating tools like optimized contact center technology and a Sales Agent Enablement tool, the company is enhancing both operational efficiency and customer engagement. Karen Leggett, Global Chief Marketing Officer, emphasized that GenAI is driving growth and innovation across the organization.
AI-enhanced customer service
In its contact centers, Manulife is using GenAI to automate call summaries, perform trend analysis, and manage contract lookups. This technology enables faster, more accurate customer interactions, with the first rollout planned in Singapore by year-end.
Transforming sales and underwriting
Manulife is also launching two major AI initiatives in Singapore:
• Sales agent enablement tool: This tool helps agents personalize customer interactions by providing insights based on customer behavior and needs. After a successful pilot in May, the tool expanded to over 2,000 agents by July, with plans for further expansion into Japan.
• Underwriting assistant: Scheduled for launch in October 2024, this AI-driven tool will automate document analysis, reducing the underwriting process from five days to three, improving both speed and accuracy.
Looking forward
Manulife has also established Responsible AI Principles to guide its AI development. As AI continues to evolve, the company is committed to refining its tools and maintaining ethical standards. Through these innovations, Manulife aims to lead in AI-driven insurance services, enhancing customer satisfaction and operational efficiency.
