Swiss Re Reinsurance Solutions and Wysa, a provider of anonymous mental health support, have launched Wysa Assure, an Artificial Intelligence-based mental health support app. Australian MLC Life Insurance is the first to bring the solution to the market.
Central to Wysa Assure’s design is an AI chatbot built on cognitive behavioural therapy principles, enabling users to be supported on-demand, guiding them through evidence-based mental health resources selected for their needs.
The app, Swiss Re explains, prioritises user anonymity to address data protection concerns, while seamlessly integrating self-management modules and insurers’ support networks.
This innovative approach fosters proactive mental wellbeing management and encourages early support seeking, avoiding symptom deterioration, thus potentially enabling claims savings for insurers.
According to the Swiss Re Institute’s 2022 consumer survey one-third of respondents reported a decline in mental health, and 64% of individuals in emerging markets sought mental health support during this timeframe.
Through the incorporation of Swiss Re’s risk-oriented scoring mechanism, Wysa Assure users have the capacity to monitor their mental health, while insurers benefit from a comprehensive reporting suite equipped with data to enhance their portfolio management.
“Wysa Assure combines mental wellbeing and protection, emphasising the importance of open discussion around mental health,” said Carl Christensen, Head Life & Health Solutions at Swiss Re Reinsurance Solutions.
“The app we co-developed with Wysa is designed to meet the needs of insurers and their customers, reflecting our commitment to customer-centric solutions that improve the adoption of insurance whilst improving the quality of people’s lives. We look forward to bringing this health and wellness solutions to other markets soon.”
Australia is first to benefit, with MLC Life Insurance the first to pilot Wysa Assure, which will be available to existing and new MLC Life Insurance retail customers through its Vivo programme.
Other notable features include stress-relief programmes and therapeutic techniques, as well as exercises and a wellbeing score to help users keep focused on their mental and emotional health.
“We’re always looking for innovative ways to improve the total customer experience, and that’s why we’re proud to be pioneers in this space and to further complement our award-winning Vivo program,” said Andrew Beevors, Chief Claims Officer for MLC Life Insurance.
Together with co-creator Wysa, Swiss Re is working to develop similar product partnerships with insurers in further regions.