Sun Life embraces GenAI and Emerging Tech 

Sun Life embraces AI: Sun Life, a prominent global player with assets under management (AUM) totaling $1.3 trillion, is actively exploring the potential of generative artificial intelligence (GenAI) to enhance client services and operational efficiency, according to Laura Money, Chief Information and Technology Innovation Officer.

Sun Life, a Canada-based life insurer and asset manager, sees GenAI as a significant opportunity within the financial services sector. Laura Money highlighted the ongoing experimentation with GenAI projects, emphasising the importance of balancing innovation with risk management measures to ensure safe exploration of AI-led solutions.

In an interaction, Money explained that Sun Life is testing ways in which GenAI can augment employee workflows and enhance client services. The company has implemented an internal chatbot to boost productivity and efficiency and piloted a programme to accelerate coding accuracy among developers. Furthermore, Sun Life is exploring ways GenAI can contribute to faster service delivery in its call centres.

Centre's contribution

Sun Life's Global Capability Centre, Sun Life Global Solutions (SLGS), with a presence in India and the Philippines, plays a pivotal role in driving GenAI-led innovation projects. Tarun Sareen, MD of SLGS, highlighted the centre's contributions to Sun Life's broader strategy and digital goals, emphasising a culture of innovation and ongoing engagement with the fintech and InsureTech ecosystems.

The company is actively collaborating with external ecosystem players, including accelerators, incubators, startups, and academia, fostering co-creation and incubation opportunities. Sun Life conducts year-round innovation activities to build an inclusive, innovation-led culture.

GenAI is a key focus within the digital strategy, and Sun Life aims to leverage emerging technologies like AI and ML, computer vision, audio analytics, and more. The company believes that GenAI and other emerging technologies can significantly impact health outcomes, aligning with Sun Life's mission of providing lifetime financial security and supporting clients in living healthier lives.

(with PTI inputs)