iA Financial Group Advances Life Insurance Underwriting with FICO Automation
iA Financial Group, a prominent Canadian insurance and wealth management firm, is enhancing its underwriting capabilities through the deployment of the FICO Platform. This strategic initiative aims to automate approximately 80% of underwriting decisions in real-time, improving operational efficiency and accelerating product implementation. Serving over five million clients and managing close to $260 billion in assets, iA's focus on automation reflects a move towards streamlined workflows and quicker onboarding processes for individual life insurance products in the mass and mid-market segments.
The integration of the FICO Platform enables iA to exert greater control over underwriting workflows while enhancing risk assessment accuracy. This digital transformation supports improved policy submission insights, leading to optimized application processes and higher policy conversion rates. In addition, the platform facilitates better management of risk exposure under stringent regulatory standards, reinforcing compliance and client confidence in insurance offerings.
iA Financial Group's approach combines advanced digital technology with human expertise, positioning the company as a leader in the Canadian life insurance market. By refining advisor workflows and expanding automation, iA aims to deliver more precise, client-responsive underwriting decisions. These advancements also set the foundation for future automation of more complex underwriting decisions, driving sustained operational efficiency and accuracy.
The effectiveness of iA's implementation of the FICO Platform has been recognized with the 2025 FICO Decision Industry Vanguard Award. The award highlights the impact of AI-powered decisioning in transforming insurance operations by enabling real-time decisions, reducing operational costs, and enhancing customer experience. FICO emphasizes that these innovations contribute to smarter insurance operations while maintaining compliance and risk management.
The deployment of predictive analytics and data science, as embodied by the FICO Platform, continues to shape the insurance industry's evolution. iA Financial Group's adoption reflects a broader industry trend towards leveraging technology for improved decision-making, regulatory adherence, and market competitiveness. This case illustrates the interplay between digital transformation and traditional underwriting processes in the life insurance sector.