Several members of the International Cooperative and Mutual Insurance Federation (Icmif) have announced partnerships and investments in tech and AI projects in recent weeks.
GF Forsikring and LB Forsikring, two of Icmif’s Danish members, are investing in Gensam, a Danish IT and service company for the insurance industry, alongside existing owner Himmerland Forsikring.
This will establish a shared ownership structure for Gensam and a common IT platform serving the three member-owned insurers – who together represent more than one million members in Denmark.
Under the agreement, LB Forsikring and GF Forsikring will each hold a 45% stake in Gensam, with Himmerland Forsikring retaining a 10% share. The transaction is subject to approval from the relevant authorities.
The three companies say the investment is intended to create a strong, long-term IT solution that can support their insurance businesses through digitalisation, greater efficiency and lower unit costs. LB Forsikring and GF Forsikring are expected to migrate to the Gensam platform within five years.
The companies also see the shared platform as a way of maintaining greater control over their technology infrastructure while enabling investment in modern technology, data and AI.
“The collaboration gives us strength and shows the value of the co-operation that the member-owned companies have, even though we are competitors on a daily basis,” said Jan Kamp Justesen, CEO of LB Forsikring. “Investments in technology are becoming increasingly larger, and scale is a crucial competitive parameter.”
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Meanwhile, French insurance mutual Maif has entered three technology partnerships – with Mistral AI, Scaleway and Diabolocom – as it accelerates the modernisation of its information systems and develops new applications of AI.
Maif says the partnerships will support its ambitions to improve member experience, increase operational efficiency and strengthen the security and sovereignty of its digital infrastructure.
The three partnerships cover complementary areas of technology. With Mistral AI, MAIF is developing new applications for generative AI, including tools designed to support its advisers and enhance the service provided to members. The insurer will also work with Mistral AI to identify further practical applications of AI across its business.
Through the deal with European cloud provider Scaleway, Maif is looking to support the development of its cloud infrastructure for AI and managed-service applications, while supporting a focus on digital sovereignty.
The third partnership, with customer relationship technology provider Diabolocom, will focus on modernising how Maif manages interactions with its members. The platform is intended to provide a more unified view of member interactions across channels and support more personalised and efficient service.
Nicolas Siegler, Maif’s deputy CEO in charge of IT, said the partnerships reflect the mutual’s ambition to combine sovereignty with technology that is performant, reliable and secure, while improving member experience and operational efficiency.
In the US, Lititz Mutual Insurance Company has selected Guidewire ProNavigator to provide AI-powered guidance to its employees and independent agents within their underwriting and claims workflows.
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The Pennsylvania-based mutual will use ProNavigator to provide instant answers based on its company policies, procedures and expertise, helping teams access information without having to search manually through documents and systems. The solution also provides guided recommendations within everyday workflows, it says.
“We see AI as an opportunity to make our employees and independent agents more effective by putting trusted information directly into their workflows,” said president and CEO Henry Gibbel.
It is hoped the technology will reduce administrative work and help employees and agents find the information they need more quickly, while maintaining the necessary security and governance.
Lititz Mutual says the adoption is also part of a longer-term approach to AI. ProNavigator is expected to provide a foundation for extending AI-powered capabilities across future agent and customer experiences.
Main image: GF Forsikring CEO Mark Palmberg, Himmerland Forsikring CEO Christian Borregaard Vejling, and LB Forsikring CEO Jan Kamp Justesen
