Hong Kong-based insurer FWD Group has introduced a five-year extension of its cloud expertise providers collaboration with Amazon Net Companies (AWS).
This transfer is a part of FWD Group’s strategic cloud-first method.
As a part of the prolonged alliance, AWS will proceed to host a variety of core enterprise functions reminiscent of buyer, finance, and insurance coverage agent interfaces.
AWS may even proceed to ship enhanced scalability, agility and resilience to FWD, because the insurance coverage firm strikes away from its onsite knowledge centres.
FWD stated it has seen a big shift to cloud expertise, with 97% of its functions migrated to the cloud by the top of 2023, up from 27% on the finish of 2020.
This transition has led to improved software program growth, quicker time-to-market and higher buyer experiences.
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AWS has performed an important function in FWD Group digital initiatives reminiscent of Omne by FWD, a digital self-service and claims course of platform that has acquired excessive web promoter rating scores since its launch in 2022.
AWS additional assisted FWD in making a cloud-based centralised finance hub to successfully handle monetary, funding and actuarial knowledge.
FWD’s cloud-first technique can also be foundational for its generative AI (GenAI) deployment, which is designed to enhance buyer experiences and operational effectivity in numerous domains.
These embrace underwriting, claims, acquisition, channel and agent efficiency, advertising and customer support.
Since embarking on its AI journey in 2019, FWD has developed almost 200 energetic AI fashions and greater than 600 use circumstances throughout its enterprise operations.
FWD group chief expertise and operations officer Sandeep Pandey stated: “This digital-first mindset has delivered operational infrastructure and capabilities that aren’t solely safe and cloud-based but additionally totally built-in throughout enterprise features and with valued companions like AWS.
“With these foundations in place, we are able to now additional scale our generative AI deployment in an environment friendly, efficient and accountable manner, in keeping with our imaginative and prescient of fixing the best way folks really feel about insurance coverage.”
Earlier this 12 months, FWD Group introduced a four-year partnership with tech large Microsoft to utilise the latter’s GenAI expertise.
