MS Amlin launches AI wordings tool ahead of 1/1 renewals

MS Amlin has launched an aritificial intelligence (AI) powered wordings tool designed to cut contract review times by around half and speed up responses to brokers.

Known internally as “Wordy Bot”, the tool analyses reinsurance contracts against MS Amlin’s underwriting standards and flags missing clauses, wording differences and potential inconsistencies for review by underwriters and the insurer’s wordings team.

MS Amlin said the system is intended to accelerate the initial stages of contract analysis, reducing the number of questions and revisions needed before placement.

It can also provide insight into the potential impact of wording changes on coverage and exposure at both transaction and portfolio level.

Wordy Bot is already being used across MS Amlin’s North American property reinsurance portfolio and will support the team through the upcoming 1 January renewals.

The insurer plans to extend the tool to North American casualty reinsurance, followed by the remainder of its reinsurance portfolio and subsequently its direct insurance business.

The tool was developed by MS Amlin’s London teams in collaboration with MSIG Asia in Singapore through the group’s global automation programme.

Development was led by Dr Fei Ling Woon, head of robotics within MS Amlin’s business services team.

Martin Burke, chief underwriting officer at MS Amlin, said: “January renewals involve a significant volume of business being negotiated against tight deadlines.

“For brokers, the value of Wordy Bot is the potential for quicker reviews, fewer avoidable questions and greater clarity over the wording before a contract is finalised. Importantly, it means underwriters can spend more time interpreting wording changes rather than identifying them.”

Burke stressed that the technology would support, rather than replace, underwriting judgement.

“Wordy Bot does not make underwriting decisions or replace the judgement of our underwriters and wordings team,” he said.

“It helps them review contracts more quickly and consistently, while gaining a clearer understanding of the risk.”

Burke added: “This project demonstrates the value of being part of a global group. By bringing together underwriting, wordings and technology expertise from across the MSIG Group, we have developed a practical solution to a shared business challenge.”