Manulife is integrating GenAI with agent operations in Singapore and enhancing capabilities in contact centres and underwriting processes.
Manulife’s use of GenAI in contact centres will automate call summaries, perform trend analysis, and manage contract lookups in seconds, boosting efficiency.
The first rollout in Asia will begin in Singapore by the end of 2024.
In Singapore, Manulife has launched two key initiatives. The Sales Agent Enablement tool, first introduced to over 2,000 agents in July, leverages GenAI to analyse customer preferences and generate personalised engagement ideas.
About 68% of agents used the tool within two weeks of its pilot launch. Manulife plans to expand this tool to Japan by the end of the year.
Additionally, the GenAI-powered Underwriting Assistant will streamline underwriting by reducing processing times from five days to three for high-net-worth products. This tool will be introduced in October 2024.
Manulife said it seeks to strengthen its position as a leader in AI-driven innovations within the insurance sector, leveraging advanced technology to refine how it delivers services.
Ms Karen Leggett, global chief marketing officer at Manulife, confirmed that GenAI is playing a critical role in the company’s ongoing transformation, driving efficiencies and unlocking new growth opportunities.
“GenAI is accelerating our transformation, driving growth, and highlighting innovative opportunities to drive efficiency across our organisation,” she said.
She said the investments in data, cloud technology, and talent are enabling the company to enhance engagement with customers and scale its AI capabilities across the business.