Reassured Partners with FOIL AI to Transform Life Insurance Data Operations
Reassured Partners with FOIL AI to Enhance Data Operations
Reassured, a leading life insurance broker, has formed a strategic alliance with data and AI consultancy FOIL AI to revolutionize its data infrastructure. This collaboration aims to optimize Reassured's analytics and artificial intelligence capabilities, enhancing their data-driven operations. The integration will elevate the firm's ability to address AI-driven prior authorization delays and meet regulatory compliance requirements effectively.
The partnership's primary objective centers on refining Reassured's approach to identifying individuals lacking sufficient life insurance coverage and improving customer support throughout the insurance lifecycle. Over the past nine months, FOIL AI has collaborated with Reassured to unify scattered customer data, providing a comprehensive view of customer interactions crucial for effective risk management.
AI-Driven Segmentation and Analytics
By integrating structured application data and insights from customer call transcripts, Reassured seeks to fortify its decision-making processes. This strategy aims to inform advisers on identifying optimal actions for client interactions, ultimately enhancing customer experiences and ensuring seamless post-sale communication. AI-driven segmentation plays a pivotal role in adapting to changes in customer circumstances and promoting fair outcomes.
A critical focus of this collaboration is addressing the industry challenge of customer non-disclosure. By analyzing medical and call data, Reassured aims to detect potential inaccuracies or omissions. This effort will bolster compliance, improve claims outcomes, and enhance underwriting standards. These measures align with industry best practices to ensure regulatory compliance and comprehensive risk management.
Building Long-term Data Capability
Additionally, the partnership emphasizes long-term capability development through a two-year talent initiative spearheaded by FOIL AI. This program focuses on fostering in-house expertise in data and AI, facilitating knowledge transfer, and supporting sustainable growth. The initiative empowers Reassured to meet future regulatory compliance requirements and explore innovative underwriting solutions.
Beth Whelan, Chief Data and Insights Officer at Reassured, emphasized the alliance's significance, stating, “Our work with FOIL AI is helping us build strong data foundations to better understand and support our customers throughout their lives. By unifying data and developing in-house AI expertise, we’re creating conditions for smarter decisions, clearer next best actions, and more relevant experiences.”
Mish Naik, Head of Strategy at FOIL AI, added, “Our partnership with Reassured focuses on building lasting data and AI capabilities, not short-term solutions. By merging deep industry understanding with advanced analytics expertise, we’re helping Reassured integrate years of data, cultivate internal talent, and accelerate its journey towards becoming truly data-led.”