Sun Life, a global leader in life insurance and asset management, is leveraging generative artificial intelligence (GenAI) to drive client excellence and innovation. GenAI is a branch of AI that can create new content, such as text, images, or code, based on existing data or parameters.
Sun Life has been experimenting with several GenAI projects to enhance its products and services, such as an internal chatbot, a code generator, and a call center assistant. These tools aim to improve the productivity and efficiency of Sun Life’s employees and provide faster and better service to its clients.
Sun Life’s Chief Information and Technology Innovation Officer Laura Money said that GenAI provides huge opportunity in the financial services space, and that Sun Life is balancing this with risk management measures to ensure safe and ethical use of AI. She also said that Sun Life always has a human in the loop to check the validity of what GenAI is creating.
Sun Life has a strong presence in India through its Global Capability Centre – Sun Life Global Solutions (SLGS), which is an innovation and knowledge services hub. SLGS has been helping Sun Life drive a number of GenAI-led innovation projects for markets across Asia, the US and Canada. SLGS’s MD Tarun Sareen said that innovation is at the forefront of Sun Life’s digital strategy, and that SLGS is fostering a culture of innovation by conducting rapid prototyping and engaging with the fintech and InsureTech ecosystem.
With an Asset Under Management (AUM) of $1.3 trillion, nearly one-third of India’s GDP, Sun Life is also using GenAI tools for achieving greater efficiency in asset management. GenAI can help analyze large amounts of data, generate insights, and optimize investment strategies.
Sun Life’s GenAI initiatives demonstrate how the company is embracing emerging technologies to deliver value to its clients and employees.