Designed as a co-pilot for underwriters, OmniGen AI evaluates underwriting guidelines, risk profiles, and risk model outputs to provide swift and precise decisions, complete with rationale and references. This advanced system minimises human biases and errors, setting a new benchmark for accuracy and efficiency in the insurance industry.
By transitioning from traditional, human-created underwriting manuals to AI-generated frameworks reviewed by experts, the solution streamlines risk evaluation, policy issuance, servicing, and claims settlement. It also improves consistency and operational efficiency, delivering a scalable model that benefits customers and the sales force.
Speaking on the innovation, Sachin Dutta, Chief Operating Officer of Canara HSBC Life Insurance, highlighted the broader impact of OmniGen AI on business growth, operational efficiency, and customer outcomes:
“At Canara HSBC Life Insurance, we are committed to harnessing advanced technology to improve our risk assessment capabilities, operational efficiency, and overall customer experience. OmniGen AI represents our efforts to integrate Generative AI into underwriting processes and lead the charge in driving meaningful innovation in the life insurance industry. This solution reduces operational costs, simplifies backend workflows, and enables quick, consistent decisions that benefit our customers and sales teams alike.”
OmniGen AI underscores Canara HSBC Life’s dedication to innovation, reliability, and customer satisfaction, reinforcing its position as a leader in the life insurance sector.
