Manulife updates underwriting AI, doubles instant approval rate [Advisor.ca (Canada)]
Manulife Financial Corporation (MFC)
Last manulife financial corporation earnings: 2/12 05:00 pm
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Source: Advisor.ca
approval rate to 58% of all applications it processed, the insurance giant announced Thursday. The Manulife Automated Underwriting Decision Engine launched last autumn, under the name Maude. The AI is based off a system introduced in 2018 called Artificial Intelligence Decision Algorithm. It guides prospects through a questionnaire and enables automatic approvals for qualifying applicants in as little as two minutes, freeing up underwriters' time to review more complex cases. “The easy pile, as we call it, is gone,” Karen Cutler, chief underwriter for individual insurance at Manulife, said in an interview. “[New underwriters] are instantly coming into more interesting work, and what underwriters thrive on is really interesting work.” The questionnaire is in an open-ended question format designed to mimic a conversation with a doctor. Questions will be tailored to the applicant's age, coverage amount and responses, saving up to 40% of medical questions by removing irrelevant on
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MFC
News
- Manulife Financial (NYSE:MFC) (TSE:MFC) was upgraded by analysts at <a style="font-weight:bold" href="https://weissratings.com/">Weiss Ratings</a> from a "buy (b+)" rating to a "buy (a-)" rating.MarketBeat
- Manulife updates underwriting AI, doubles instant approval rate [Investment Executive - News]Investment Executive - News
- John Hancock Unveils GenAI-Based Underwriting Support Tool: Quick QuotePR Newswire
- 2 Canadian Dividend Knights to Buy Now and Never Sell [Yahoo! Finance Canada]Yahoo! Finance Canada
- Manulife Investment Management Limited Announces Fee Reduction to Manulife CQS Multi Asset Credit Fund [Yahoo! Finance]Yahoo! Finance
MFC
Earnings
- 11/12/25 - Beat
MFC
Sec Filings
- 12/11/25 - Form 6-K
- 12/3/25 - Form SUPPL
- 12/3/25 - Form 6-K
- MFC's page on the SEC website