Swiss Re Risk Navigator
by Swiss Re · Reinsurer
Generative AI assistant for underwriters that summarises submission documents, extracts key risk factors, and benchmarks treaty terms against historical portfolios.
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Business context
- Purpose of use
Support underwriters with faster, more consistent risk assessment.
- Value chain steps
- Underwriting and risk assessmentRisk bearing and capital management
- Insurance branches
- Non-life reinsuranceProportional reinsurance
- Application scope
- Internal only
- Business criticality
- Business critical
- Country or market unit
- SwitzerlandGlobal
Value and impact
- Added value category
- Efficiency gainQuality improvementRisk reduction
- Added value estimation
Cuts submission review time for complex treaties by roughly one third.
- Estimated time savings
Around 4 hours saved per large submission
- Estimated weekly case volume
- 450
- Time to value (months)
- 12
- Competitive advantage gain
Proprietary portfolio benchmarking data unavailable to competitors.
- Quality gain
More thorough document coverage reduces missed exclusions.
Technical details
- AI category
- Generative AINatural language processing
- AI model name
GPT-4o
- Model version
2024-11
- AI platform provider
- Microsoft Azure AI FoundryOpenAI API
- Cloud provider
- Microsoft Azure
- Technology stack
- Azure OpenAILangChainSnowflake
- Interfaces used
Underwriting workbench integration
- Architectural insights
Retrieval-augmented generation over an internal treaty knowledge base.
- Automation level
- 3/5
- Estimated IT difficulty
- 5/5
Compliance and governance
- EU AI Act risk category
- High risk
- EU AI Act role
- Provider
- Relevant policies
- EU Artificial Intelligence ActNIST AI Risk Management Framework
- Responsibilities
Underwriting governance board reviews model outputs quarterly.
- Data used
Submission documents, treaty histories, actuarial loss data.
Metadata
- Development type
- Scaled application
- Go-live date
- Oct 15, 2024
- Estimated number of users
- 1,200
- License model
- API service
- Original source
- https://www.swissre.com/press-release
Community
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