Bermuda-based reinsurer PartnerRe has teamed up with data analytics provider Verisk to developed artificial intelligence (AI) powered insurance solutions.

Leveraging AI and voice analytics, the new solutions are expected to augment the underwriting and the customer experience.

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After analysing the telephone interviews and applicant data, PartnerRe will trial the technology to check potential tobacco usage among life insurance applicants.

The technology will be beneficial for recognising the applicants who may need further review or lab testing.

Verisk director of life insurance solutions Nick Irwin said: “Providing a fast and easy purchase experience for life insurance in the long term requires a commitment to exploring new data and technology while maintaining the protective value that traditional underwriting brings.

“The deep experience that PartnerRe has developed in this market will help us develop cutting-edge tools that insurers can use to meet the need for speed with precision and reliability.”

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PartnerRe North America Life vice president of underwriting strategy and innovation Karen Phelan stated: “Uncovering fraud and nondisclosure, in areas such as smoking, will help position our carriers for long-term success.

“Verisk’s long history of managing insurance data and its innovative analytics will help us gain new insights into policyholders and deliver a better experience for our customers.”

Additionally, PartnerRe will partner with Verisk for the solution that uses licensing and marketing data to expose applicants with risky avocations, including scuba diving and skydiving.