Swiss Re has announced an expanded partnership with MEA, selecting the GenAI platform to support its property and casualty reinsurance operations.

This follows the initial collaboration between the two companies which began in July 2023, when Swiss Re selected the Middle East and Africa company for its corporate solutions.

The partnership, now in its second year, expands the Middle East and Africa technology to include additional use cases within Swiss Re’s operations.

Swiss Re said it selected mea after a period of testing, citing its ability to process complex data formats such as SOVs and Loss Runs from Excel spreadsheets and PDFs. The expanded contract will allow Swiss Re to leverage mea’s generative artificial intelligence (GenAI) capabilities to handle these complex formats more efficiently.

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MEA uses its GenAI solution, Ora, to streamline insurance processes by automating the extraction of data from unstructured submission-related documents, and converting them into structured data. This reduces manual entry and improves the management of incoming submissions, saving insurance companies time and resources.

Read more: Swiss Re sees rising reinsurance demand amid rising global risks

Tarun Kohli, Managing Director and Group Head of Delivery Services at Swiss Re, said the company is pleased to deepen its partnership with the Middle East and Africa region.

“We went through a rigorous selection process to identify a platform that was innovative and mature enough to complement our advanced technology suite. The Middle East and Africa capabilities have proven to be a good fit for us as Swiss Re continues its digital transformation journey,” said Kohli.

MEA’s GenAI platform enhances data processing and improves business processes, said Mark Werder (pictured above), managing director and head of innovation and transformation at Swiss Re Corporate Solutions.

“Expanding this partnership is part of our commitment to continuously improve our business processes and drive innovation across the organization,” said Werder.

Martin Henley, CEO of Middle East & Africa Insurance, commented on the growth of the partnership, noting that the expansion demonstrates the value that Middle East & Africa Insurance adds to the reinsurance and insurance operations.

“We are still at the beginning of what is possible, and we look forward to continuing to innovate and deliver value to Swiss Re,” Henley said.

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