Manulife adopts GenAI
Manulife announced a significant leap in implementing its Generative Artificial Intelligence to transform business processes and elevate customer service with new capabilities across Asia, including the integration of GenAI with the agent experience in Singapore.
Manulife’s commitment to AI extends to customer service, where GenAI is being utilized in contact centers to enhance the efficiency and accuracy of client interactions. The technology automates call summaries, performs daily trend analysis, and manages complex contract lookup within seconds, enabling servicing colleagues to provide faster, more precise responses. The first rollout in Asia will take place in Singapore by the end of the year.
Manulife also launched two GenAI initiatives in Singapore that are transforming the way Manulife agents and underwriters operate.
- Sales Agent Enablement Tool: This tool equips agents with deep insights into customer preferences and needs, significantly enhancing the personalization of customer interactions. Based on a customer’s last 12-months of engagement, life stage and needs, and recent news, the Sales Enablement tool leverages a combination of traditional AI, automation, and GenAI to generate engagement ideas unique to each customer. Launched to a pilot group in May and extended to over 2,000 agents in Singapore in July, and planned expansion to Japan later this year, Manulife is enabling agents to have more effective needs-based conversations and create stronger, more personalized customer experiences. In the first two weeks of launch, about 68% of pilot agents had already used the new GenAI capabilities to engage with customers. A total of 12 enhancements are planned for the remainder of the year. The success of this Singapore-developed tool is paving the way for rollout in other global markets.
- Underwriting Assistant: The Underwriting Assistant leverages GenAI to streamline the underwriting process by automating the analysis and summarization of documents. With the assistance of our GenAI-powered Underwriting Assistant, Manulife can significantly expedite this process from a 5-day window, down to a target process window of 3-days. This new tool is slated to launch in October 2024. This automation not only accelerates processing times for customers, but also improves accuracy in decision-making, further simplifying the underwriting process and freeing up underwriters to focus on more complex cases.
“GenAI is accelerating our transformation, driving growth, and highlighting innovative opportunities to drive efficiency across our organization. Our market-leading progress in deploying and scaling multiple global use cases are resulting in deeper customer engagement and satisfaction. The significant investments we’ve made in cloud, data capabilities, and talent are enabling our speed, efficiency, and innovation to lead in the GenAI space.” – Karen Leggett, Global Chief Marketing Officer, Manulife.
“The launch of these AI-driven tools in Singapore will significantly improve customer interactions by providing faster, more accurate, and personalized service. By automating routine tasks in underwriting and streamlining customer support through AI, we are furthering our commitment to delivering exceptional value to our customers and colleagues alike.” – Mark Czajkowski, Chief Analytics Officer, Asia and Chief Marketing Officer, Singapore.
