FWD Group, a pan-Asian life insurance business, has announced it is extending its partnership with Microsoft to provide access to the latest generative artificial intelligence (AI) innovations, while continuing to support FWD’s cloud-first technology strategy.
Through the four-year agreement, FWD Group plans to drive its generative AI initiatives – a journey that started in 2019 – by leveraging Microsoft’s Azure OpenAI Service and other enterprise-grade innovations.
According to the announcement, the insurance company expects to benefit from the private networking, monitoring and security capabilities of Microsoft Azure as well as its advanced AI models.
FWD Group is working to enhance the customer experience and its operations in areas like acquisition, marketing, channel and agent performance, underwriting, claims and customer service, its partnership with Microsoft will help it to achieve this.
Bill Borden, Corporate Vice President of Worldwide Financial Services, Microsoft, said, “AI is driving transformation across the financial services industry, opening new opportunities for innovation and business growth with agility and at scale. We are thrilled to strengthen our AI partnership with FWD by offering Azure OpenAI Service and Copilot for Microsoft 365 capabilities to enable world-class customer experiences and operations securely and responsibly.
He added: “As a pivotal player in the global financial landscape, the Asia Pacific region stands out for its dynamism and adaptability, fostering continuous growth and driving innovation. We are committed to empowering our customers in the region with generative AI capabilities in a responsible way. With Microsoft’s enterprise-grade AI advancements, we are helping the financial services ecosystem accelerate innovation to drive operational efficiency and greater value creation to customers.”
