SBLI Enhances Life Insurance Claims with Swiss Re’s CARE Decision Engine
SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has enhanced its claims processing capabilities by integrating Swiss Re’s CARE (Claims Automated Rules Engine) decision engine. This technology supports intelligent, risk-based claim assessments, allowing for faster, more accurate, and fully auditable claims decisions, improving the overall claims experience for beneficiaries. SBLI's use of Swiss Re’s Automated Claims Experience (ACE) already enables settlement of many claims in under 10 days, significantly quicker than the industry average of 30 days, with some straightforward claims settled in as little as one day.
The CARE engine builds on these capabilities by providing real-time decision guidance and intelligent automation. This integration aims to deliver more consistent and simpler claim resolutions while maintaining transparency and efficiency. It enhances SBLI’s ability to support beneficiaries during critical moments efficiently, thereby fostering trust between policyholders, their families, and insurance agents.
Swiss Re is a global leader in reinsurance and insurance risk solutions, offering innovative tools like CARE to help insurers modernize their claims processes without sacrificing the personal touch essential in life insurance services. This technological advancement reflects the ongoing trend in the insurance industry toward leveraging automation and data-driven decision-making for improving operational efficiency and customer service.
SBLI’s implementation of CARE demonstrates a commitment to balancing modern claim technology with client-centric service, a combination valuable for maintaining long-term relationships in the life insurance market. The move also aligns with broader insurance industry goals to streamline claims handling in a compliant and transparent manner, improving outcomes for both insurers and policyholders. With licenses in 49 states and the District of Columbia, SBLI's improved claims process has a wide geographic impact, enhancing service reliability across the U.S.