SBLI Enhances Life Insurance Claims with Swiss Re’s Automated CARE System
The Savings Bank Mutual Life Insurance Company of Massachusetts (SBLI) has adopted Swiss Re's Claims Automated Rules Engine (CARE) to enhance its claims resolution process. CARE uses intelligent automation to assist insurers in making quick, accurate, and auditable claims decisions, improving operational efficiency and customer service. This integration aligns with SBLI's ongoing efforts to utilize technology for faster claims settlements, complementing its existing use of Swiss Re's Automated Claims Experience (ACE) to process many claims in under ten days. CARE supports insurers by providing configurable, risk-based rules that streamline claim assessments, especially beneficial for simpler claims under $100,000 where payments can be made within a day if the beneficiary is verified.
SBLI executive leadership emphasizes the role of CARE in increasing transparency and confidence in claims processing. The system enables the company to uphold its commitment to policyholders by delivering consistent outcomes swiftly, particularly critical in life insurance situations. This initiative follows SBLI's recent collaboration with Swiss Re on the Underwriting Ease solution, which integrates with current workflows to enhance life underwriting through digital support tools like Swiss Re’s Life Guide.
Swiss Re’s development of these automation tools reflects a broader market trend where insurers seek to reduce turnaround times and regulatory risks through advanced analytics and business intelligence. SBLI’s integration of CARE signals a commitment to leveraging intelligent automation to remain competitive and meet regulatory compliance demands efficiently. The implementation of services like CARE and Underwriting Ease underlines the critical role of technology in transforming life insurance operations, from underwriting to claims management.
For insurance professionals, SBLI’s adoption of CARE exemplifies key industry movements toward digital transformation and data-driven decision-making. The platform’s ability to provide auditable rules-based decisions helps insurers maintain regulatory compliance and improves claims experience for beneficiaries, a vital aspect in life insurance claims. This deployment may influence other insurers considering automation solutions to optimize claims workflows and reduce operational costs while maintaining service standards.