Aviva has announced the expansion of its AI underwriting tool to income protection (IP), meaning the technology now spans its entire individual protection range.
The tool uses generative AI to summarise medical reports in life insurance, critical illness (CI) and income protection applications, aiming to highlight the key information for underwriters to review.
Aviva says the tool halves the time spent reviewing each case and had an accuracy rate of 99.7% during testing.
The tool was first launched for individual life insurance applications in November last year and was then extended to CI applications in March.
READ MORE: Freedom Health launches diagnostics service in partnership with Scan.com
"We’ve already seen the positive impact this technology can have for life insurance and critical illness applications, helping our underwriters review medical evidence more efficiently and improving the experience for advisers and customers," Robert Morrison, chief underwriting officer at Aviva, said.
"By extending AI summarisation to income protection, we’re continuing our commitment to making protection insurance faster, simpler and more accessible, while ensuring more customers can get the cover they need as quickly as possible."
