Manulife, a leading insurance and financial services company, has been exploring the potential of artificial intelligence (AI) to enhance its operations and customer experience. The integration of generative AI (Gen AI) at Manulife is part of this effort.
Manulife’s reputation depends on trust. The GenAI program must adhere to the : genai at manulife
Manulife Executive Leadership / Board of Directors Date: October 2024 (Updated for 2026 context) Document Type: Strategic White Paper The GenAI program must adhere to the :
Gen AI has the capability to analyze vast amounts of data, identify patterns, and make predictions or decisions based on that analysis. In the context of insurance and financial services, this can be particularly useful for: | | Group Benefits | Intelligent Claims Adjudication:
| Business Unit | GenAI Application | Expected Impact | | :--- | :--- | :--- | | | Automated Underwriting: LLMs summarize attending physician statements (APS) and paramed reports into risk assessments. | Reduce underwriting turnaround from days to hours; improve straight-through processing rates. | | Group Benefits | Intelligent Claims Adjudication: GenAI extracts relevant diagnosis codes and treatment plans from unstructured medical notes against policy wording. | Cut manual claims review time by 60%; reduce leakage due to human error. | | Wealth & Asset Management | Personalized Financial Summaries: Generate plain-English summaries of complex prospectuses and quarterly statements tailored to a client’s reading level and language. | Increase client engagement; reduce call center queries on “what does this mean?” | | Customer Service (Contact Center) | Agent Co-pilot: Real-time summarization of customer calls, suggested responses, and next-best-action prompts based on policy history. | Improve first-call resolution; reduce average handle time; boost CSAT. | | IT & Operations | Code Migration Assistant: GenAI tool (e.g., Manulife internal GPT) to refactor legacy COBOL to modern Java/Python for core systems. | Accelerate cloud migration; reduce technical debt. |