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Zurich-backed AI project wins global honours

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Zurich-owned OnePath Life and the University of Technology Sydney (UTS) have won global accolades for their work on an artificial intelligence (AI) project that reduces the time it takes to perform standard underwriting processes.

They took home the bronze award in the Workforce Transformation category at the annual Innovation in Insurance Awards organised by Accenture and Paris-based Efma, a non-profit body for the insurance and banking industries.

“We had a vision to change how underwriting is performed and we could not have achieved our success without our partners at UTS,” Chief Underwriter Peter Tilocca said.

“This is a global award and recognises us as leaders in the Workforce Transformation space.”

OnePath Life has started using the AI processes developed by the project for standard underwriting applications and other parts of its operations.