Munich Re’s new GenAI Co-Pilot improves the process for developing customized insurance products, making it more efficient and precise for insurers.

Munich Re has introduced a new GenAI Co-Pilot via its REALYTIX ZERO platform, marking its first use of GenAI in an operational setting. This tool is designed to enhance the efficiency of developing tailored insurance products for primary insurers.

By processing user inputs, the GenAI Co-Pilot quickly formulates comprehensive insurance product proposals. These proposals can be refined and implemented swiftly through an online product studio. This accelerates the product development process, ensuring both quality and consistency.

Florian Niklas, CEO and co-founder of REALYTIX ZERO, emphasized the importance of this launch, highlighting how GenAI helps maintain high standards in underwriting and product development. REALYTIX ZERO has been a comprehensive underwriting platform since 2018, enabling digital services to integrate with Munich Re’s capabilities, enhancing automation and digitization for insurers, MGAs, and brokers.

Integrating GenAI into the platform cuts development costs and increases transparency in product logic and premium calculations. It encourages broader automation across the insurance industry, leading to significant cost savings. With over 50 global clients already using the platform, Munich Re is committed to continual improvements based on user feedback.