"Wysa Assure is more than a mental health tool; it is an AI companion designed to assist anyone navigating life's challenges."
- Ramakant Vempati, co-founder and president of Wysa
Wysa Assure is built on cognitive behavioural therapy principles, enabling users to be supported on-demand, guiding them through evidence-based mental health resources selected for their individual needs. The app prioritises user anonymity top address data protection concerns, while integrating self-management modules and insurers’ support networks. Swiss Re believes that this innovative approach fosters proactive mental wellbeing management and can encourage early support seeking. This will avoid symptom deterioration and, potentially, enable claims savings for insurers.
According to Swiss Re’s 2022 consumer survey, over 30% of respondents said they’d experienced a decline in mental health and 64% of individuals in emerging markets sought mental health support during this timeframe. In response, Swiss Re’s risk-oriented scoring mechanism will allow Wysa Assure users to monitor their mental health, offering insurers a comprehensive reporting suite equipped with data to enhance their portfolio management.
The efficacy of Wysa Assure is validated through extensive research into reducing symptoms of depression, anxiety, and comorbid physical health concerns. This has shown an average decrease of 30% in anxiety and depression-related symptoms.
Wysa Assure has launched in Australia so far, with MLC Insurance piloting the solution. The app is available to existing and new MLC Life Insurance retail consumers through its Vivo programme, offering access to stress-relief programmes and therapeutic techniques, as well as exercises and a wellbeing score to help users monitor their mental and emotional health.
Commenting on the launch, Carl Christensen, head of life & health solutions at Swiss Re, has said:
"Wysa Assure combines mental wellbeing and protection, emphasising the importance of open discussion around mental health. The app we co-developed with Wysa is designed to meet the needs of insurers and their customers, reflecting our commitment to customer-centric solutions that improve the adoption of insurance whilst improving the quality of people's lives. We look forward to bringing this health and wellness solutions to other markets soon."
Andrew Beevors, chief claims officer at MLC Life Insurance, said:
“We’re always looking for innovative ways to improve the total customer experience, and that’s why we’re proud to be pioneers in this space and to further complement our award-winning Vivo program. We’re focused on delivering an industry-leading customer experience because we know how important our promise for life is to our customers, often at the most challenging times. Our ‘here for you’ philosophy means offering a personalised, caring, and supportive response.”
Ramakant Vempati, co-founder and president of Wysa, added:
"Wysa Assure is more than a mental health tool; it is an AI companion designed to assist anyone navigating life's challenges. We are confident that Wysa Assure will help enhance the industry's understanding of mental illness, paving the way for better protection and product design."
