Prudential Financial to leverage Neutrinos AI for life business

Simplified Solutions, a unit within Prudential Financial’s Individual Life Insurance business, has signed a technology vendor agreement with Neutrinos.

The alliance will leverage Neutrinos’ AI capabilities to provide a digital experience for life insurance customers through Simplified Solutions’ network of embedded distribution partners in the US.

The initiative is part of Simplified Solutions’ efforts to bridge the insurance coverage gap with distribution partnerships that extend insurance access.

The partnership will use combined solutions to target underserved markets with lower-cost life insurance products.

Neutrinos US business co-founder and president Ramya Babu said: “We are honoured to support PFI Simplified Solutions in transforming and expanding how insurance offerings are distributed. Our AI-powered automation platform enables touchless operations and intelligent servicing at scale, helping Prudential serve new customer segments with unmatched speed, efficiency and personalisation.

“At its core, this venture is about meeting customers where they are and providing opportunities to get insured in digital environments they already trust and use.”

In March, Neutrinos launched its Underwriting Automation Suite, which enhances underwriting workflows and assists in risk assessment for the life, annuities and health insurance sectors.

Neutrinos specialises in intelligent automation for the insurance industry, offering tools such as an AI composer and orchestrator designed to automate and optimise processes including underwriting, claims management and distribution channels.

Meanwhile, in January, Prudential Financial was in the news for agreeing to reinsure a portion of its Japanese whole life insurance policies with a Prismic Life unit.

“Prudential Financial to leverage Neutrinos AI for life business ” was originally created and published by Life Insurance International, a GlobalData owned brand.

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