Launch of first insurance-specific mental health app measuring an individual's risk score

Swiss Re Reinsurance Solutions has collaborated with Wysa to introduce Wysa Assure, an AI-driven mental health support app. This partnership combines Swiss Re's risk proficiency and proprietary scoring system with Wysa's AI-powered mental health solutions. The app caters to the needs of insurers and their clients, and there are plans to explore similar collaborations in other markets as well.

At the core of Wysa Assure's design is an AI chatbot rooted in cognitive behavioural therapy principles. This chatbot offers users on-demand support and guides them through evidence-based mental health resources tailored to their requirements. The app places a high emphasis on user privacy to address data protection concerns while seamlessly integrating self-management modules and insurers' support networks. This innovative approach encourages proactive mental well-being management, promotes early support seeking, and aims to prevent the worsening of symptoms, which could potentially lead to cost savings for insurers.

Swiss Re Institute's 2022 consumer survey findings underscore the increasing role of insurers in enhancing customers' mental resilience. A third of respondents noted a decline in mental health, with 64% of individuals in emerging markets seeking mental health support during this period. By incorporating Swiss Re's risk-focused scoring mechanism, Wysa Assure users can monitor their mental health status, while insurers gain access to a comprehensive reporting suite that utilises data to enhance their portfolio management.

Carl Christensen, Head of Life & Health Solutions at Swiss Re Reinsurance Solutions, stated, "Wysa Assure combines mental wellbeing and protection, underscoring the importance of open discourse about mental health." He further added, "The app we co-developed with Wysa is designed to meet the needs of insurers and their customers, reflecting our commitment to customer-centric solutions that improve the adoption of insurance while enhancing the quality of people's lives. We anticipate introducing this health and wellness solution to other markets in the near future."

Australia is the first beneficiary of this collaboration, with MLC Life Insurance leading the pilot of the solution. Wysa Assure is accessible to existing and new MLC Life Insurance retail customers through its Vivo program. The app offers various features, including stress-relief programs, therapeutic techniques, exercises, and a well-being score to help users prioritise their mental and emotional health.

The launch of Wysa Assure in Australia signifies a notable stride in employing technology to address mental health concerns. It underscores Swiss Re Reinsurance Solutions' dedication to collaborating with clients on innovative solutions that leverage the company's global expertise and profound risk insights.

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