Swiss Re and RIQ collaborate on AI-driven reinsurance solutions in UAE

Core Insights - Swiss Re and RIQ have formed a partnership to enhance AI-enabled reinsurance solutions in the UAE through a memorandum of understanding (MoU) [1] - The collaboration aims to leverage AI for improved accuracy in underwriting, capacity utilization, and investment processes [1] Group 1: Partnership and Objectives - The partnership between Swiss Re and RIQ focuses on developing AI-driven reinsurance solutions and exploring long-term collaboration opportunities [1] - RIQ, established by IHC in partnership with BlackRock and Lunate, aims to create a reinsurance platform utilizing AI and advanced analytics for better risk evaluation and investment management [2] Group 2: Leadership Perspectives - RIQ CEO Mark Wilson emphasized the importance of combining capital, data, and technology to enhance reinsurance capabilities [3] - Swiss Re Group CEO Andreas Berger highlighted the collaboration's potential to create an AI-native reinsurance platform and explore innovative risk-transfer instruments in the UAE [4] Group 3: Financial Goals and AI Integration - Swiss Re has set a financial target of $4.5 billion (SFr3.61 billion) in group net income by 2026 [4] - The company plans to expand AI applications across various functions, including underwriting, claims processing, and data management [5]