Manulife Hong Kong announced today that it has been selected as one of the participating organizations in the first phase of the "Generative Artificial Intelligence (GenA.I.) Sandbox++," aimed at promoting the responsible application of generative artificial intelligence in the financial services industry. This initiative is launched by the Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority, and the Mandatory Provident Fund Schemes Authority, in collaboration with Hong Kong Cyberport Management Company Limited.
Manulife's Participation Plans
Manulife Hong Kong has two projects included in this sandbox, covering insurance and mandatory provident fund businesses. As one of the five selected insurance companies, Manulife's participation further confirms its commitment to promoting AI applications responsibly. Earlier, Manulife Hong Kong joined the Insurance Authority's "AI Promotion Program," becoming a key participating insurance company, demonstrating its active collaboration and innovation in the industry.
Application of BetterClaims AI
In the insurance sector, Manulife Hong Kong's BetterClaims AI has been selected as a sandbox project, aimed at optimizing the customer claims experience using GenA.I. This solution will assist financial advisors in providing more accurate and timely answers when addressing medical and critical illness claims inquiries. BetterClaims AI, as an AI claims knowledge assistant platform, can provide financial advisors with clear protection information and claims guidelines, helping them respond to customer inquiries with greater confidence.
All claims assessments and decisions will still be handled by qualified claims personnel, which fully reflects Manulife's principle of responsibly applying AI technology under rigorous governance and human oversight. Through BetterClaims AI, customers will receive clearer information and quicker responses, thereby better addressing their protection needs at different life stages.
Innovation in Mandatory Provident Fund Business
In the retirement sector, Manulife Hong Kong is collaborating with Cyberport to develop a GenA.I. smart intermediary fraud risk warning tool. This solution aims to enhance fraud risk monitoring capabilities and improve the efficiency of review processes. The tool will assist investigators in identifying potential risk patterns associated with mandatory provident fund transactions, prioritizing the interests of scheme members and establishing a safer investment environment for the mandatory provident fund.
Manulife Hong Kong and Macau CEO, Guy Millward, stated: "Manulife firmly believes that AI applications make insurance services simpler and clearer, helping our team better meet customer needs. We look forward to exploring the potential of GenA.I. applications in collaboration with local regulators and technology partners to jointly enhance professional standards and customer experience."
Conclusion
The "GenA.I. Sandbox++" provides participating organizations with a controlled environment to develop, test, and optimize innovative artificial intelligence application scenarios. This initiative promotes collaboration between regulatory bodies, financial institutions, and technology partners, further strengthening the development of Hong Kong's fintech ecosystem.
TechRitual 企業科技編輯部（香港）。biz.techritual.com 的外語版本由繁體中文原文翻譯。
