2026-10-15 · Source: Insurance Business Canada
Summary in 3 Points • Manulife has launched an AI assistant for Canadian advisors, providing 24/7 access to underwriting guidance. • The tool aims to help advisors prepare for client conversations and clarify underwriting requirements before applications. • Manulife expects AI initiatives to generate over $1 billion in enterprise value by 2027, with significant improvements in efficiency. --- Manulife has introduced an AI assistant for Canadian advisors, enabling them to access underwriting guidance at any time. This tool is designed to assist advisors in preparing for client discussions and understanding underwriting requirements, ultimately improving the client experience. The assistant currently covers life insurance and critical illness insurance, but Manulife plans to expand its capabilities across other business areas. The AI initiative is part of a broader strategy, with expectations of generating over $1 billion in enterprise value by 2027. While the assistant streamlines the process, it does not replace human underwriters and comes with caveats regarding the accuracy of AI-generated responses. Advisors are encouraged to use professional judgment and confirm critical information with underwriters to avoid potential client disappointment. Manulife's AI assistant enhances underwriting efficiency, reflecting a trend towards digital tools in insurance processes, particularly in delegated authority models.
Manulife's AI assistant enhances underwriting efficiency, reflecting a trend towards digital tools in insurance processes, particularly in delegated authority models.