Underwriters spend much of their day re-keying submissions, chasing missing information and checking guidelines. AI can remove most of that. It can also influence who gets cover and at what price, which is why regulators are paying attention. The EU AI Act classifies AI systems used for risk assessment and pricing in life and health insurance as high-risk, with requirements for risk management, data governance, transparency and human oversight1.
Start where the risk is low and the time saved is high
- Submission intake: document AI extracts the risk data and lists what is missing.
- Guideline checks: each flag shows the rule and the evidence.
- Referral packs: a draft recommendation with reasons for the senior underwriter.
None of these decides whether to offer cover. Each makes the underwriter faster and the decision better evidenced.
Make explanation cheap
Fairness and explainability become a drag when they are a separate review at the end. When reason codes, data lineage, segment-level outcome tests and override logs are generated as part of the workflow, they become evidence for the regulator and feedback for the model.