Manulife Hong Kong has joined the Insurance Authority’s (IA) AI Cohort Programme as a Core Participating Insurer, a move aimed at advancing the use of AI within the city’s insurtech sector.
The industry-wide programme brings together insurers and technology partners to promote the responsible adoption of AI.
Through this initiative, Manulife Hong Kong will help establish AI Centres of Excellence, support talent development, and share insights with peers and regulators.
“AI is rapidly transforming the insurance landscape, enabling insurers to reimagine how we serve customers while driving greater efficiency and resilience,”
said Patrick Graham, CEO of Manulife Hong Kong and Macau.
“Through this initiative, alongside our continued investment in AI capabilities and talent, we aim to scale the responsible adoption of AI across our business,”
Graham added.
The company is currently integrating AI into its distribution, customer experience, underwriting, and claims operations.
Its recent tech rollouts include a bilingual AI assistant for customers and a data-driven sales tool. The company has also introduced a dedicated AI assistant to help agents handle new business and underwriting enquiries.
Alongside its participation in the IA programme, Manulife Hong Kong has formed a strategic partnership with Alibaba Cloud.
The companies plan to establish a collaboration framework and explore a joint AI hub to co-develop new use cases for the insurance market.
The company stated that its technological deployments are managed under a governance framework designed to ensure secure and compliant implementation.
Featured image credit: Edited by Fintech News Hong Kong, based on image by Manulife