Known internally as Wordy Bot, the tool analyses reinsurance contracts against MS Amlin’s underwriting standards, identifying missing clauses, wording differences and potential inconsistencies for review by its underwriters and Wordings team.
London: MS Amlin, the Lloyd’s global specialist (re)insurer, has launched an AI-powered wordings tool that is expected to halve contract review times, helping underwriters respond to brokers more quickly and provide greater clarity over coverage.
Known internally as Wordy Bot, the tool analyses reinsurance contracts against MS Amlin’s underwriting standards, identifying missing clauses, wording differences and potential inconsistencies for review by its underwriters and Wordings team.
By accelerating initial contract analysis, MS Amlin’s teams can respond to brokers faster, reduce rounds of questions and revisions and move towards placement more efficiently. The tool also gives insights into the risks being taken on, helping underwriters better assess the implications of wording changes on coverage and exposure.
Wordy Bot is already deployed for MS Amlin’s North American Property reinsurance book and will support the team during the upcoming 1 January renewal season. The company plans to extend its use to North American Casualty reinsurance, followed by the rest of its reinsurance portfolio and, subsequently, direct insurance.
A collaboration across the Group
Wordy Bot was developed by teams from MS Amlin in London in collaboration with MSIG Asia in Singapore through its global automation programme. The programme brought together underwriting, wordings and technology expertise to address a practical business challenge: reviewing complex contracts more efficiently while maintaining the quality of underwriting judgement.
The development was led by Dr Fei Ling Woon, Head of Robotics, in MS Amlin’s business services team. Through detailed contract analysis, the Wordy Bot augments wordings review at scale, highlights material differences on exposure impact and provides deep insights at both a transaction and a portfolio level.
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.
“Wordy Bot does not make underwriting decisions or replace the judgement of our underwriters and wordings team. It helps them review contracts more quickly and consistently, while gaining a clearer understanding of the risk.” added Burke.
Burke further said, “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.”