FWD Group Partners with Microsoft to Shape the Future of AI-Based Insurance Experience

FWD Group has announced an expansion of its partnership with Microsoft through a four-year agreement, providing access to the latest generative Artificial Intelligence (AI) innovations and continuing to support FWD’s cloud-first strategy.

FWD Group will accelerate the adoption of generative AI initiatives through Azure OpenAI Services and other Microsoft enterprise innovations. FWD Group expects this to benefit from the private network, monitoring and security capabilities of the Microsoft Azure cloud platform, as well as modern AI models.

Starting its AI journey in 2019, FWD has been constantly innovating digitally and applying smart technologies to the customer experience journey.

“Digital innovation has always been at the heart of FWD’s vision to change the way people feel about insurance,” said Ryan Kim, FWD Group Chief Digital Officer. “This partnership combines FWD’s pioneering spirit in Asia, some of the world’s fastest growing insurance markets, with Microsoft’s global scale and capabilities in technology and AI. We believe that leveraging future technology innovations to establish industry standards and best practices for AI implementation will help us shape the future of the insurance experience.”

FWD Group is constantly striving to improve customer experience and improve operations in the areas of acquisition, marketing, quality management of distribution channels and financial advice, underwriting, insurance claims settlement and customer care. FWD is one of the early adopters of Copilot for Microsoft 365, an AI assistant that supports employees' daily work.

“AI is driving transformation in the financial services industry, opening up new opportunities for innovation and agile business growth at scale,” said Bill Borden, Corporate Vice President, Worldwide Financial Services, Microsoft. “We are excited to further enhance our AI collaboration with FWD through Azure OpenAI Services and Copilot for Microsoft 365, enhancing customer experiences and ensuring businesses operate safely and responsibly.”

“As a key player in the global financial sector, Asia Pacific is known for its dynamism and adaptability, driving continued growth and innovation. We are committed to empowering customers in the region with responsible artificial intelligence. With Microsoft’s advancements in enterprise AI, we are accelerating innovation in the financial services ecosystem to improve operational efficiency and create greater value for customers.”

FWD Group embarked on its AI journey in 2019 and now has nearly 200 AI models in use across the group, with more than 600 AI use cases in real-world deployment.

The Group spans Asia with over 11 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Since its establishment in 2013, FWD has been focused on making the insurance journey simple, fast and convenient, with innovative and easy-to-understand products, supported by digital technology. With a customer-centric approach, the Group is committed to changing the way people feel about insurance.

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