Swiss Re Reinsurance Solutions has partnered with Wysa to launch an artificial intelligence-based mental health support app called Wysa Assure. The app is designed as a proactive mental health management tool that encourages early intervention in order to prevent symptom deterioration.
The app combines Swiss Re’s expertise in risk assessment and proprietary scoring with Wysa’s AI-powered mental well-being resources.
MLC Life Insurance in Australia has also announced they are the first insurer to roll out the product to its customers. Andrew Beevors, Chief Claims Officer for MLC Life Insurance, said, “We’re always looking for innovative ways to improve the total customer experience, and that’s why we’re proud to be pioneers in this space.”
Wysa Assure uses an AI chatbot that integrates cognitive behavioural therapy principles. It provides on-demand support to users, taking them through evidence-based mental health resources selected for their specific needs. Importantly, the app prioritises user anonymity to address data protection concerns.
Swiss Re’s risk-oriented scoring mechanism, which are incorporated into Wysa Assure, allows users to monitor their mental health. In turn, insurers can also get vital insights from the comprehensive reporting suite equipped with data to enhance portfolio management.
Carl Christensen, Head of Life & Health Solutions at Swiss Re Reinsurance Solutions, commented, “Wysa Assure combines mental wellbeing and protection, emphasising the importance of open discussion around mental health.” He 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 whilst improving the quality of people’s lives.”
The importance of mental health
The launch of Wysa Assure stems from Swiss Re Institute’s 2022 consumer survey, which indicated a declining trend in mental health, with a third of the respondents claiming a decrease in their mental health status. 64% of individuals from emerging markets also said they had sought mental health support during the period of the study.
Swiss Re said that research validates the app’s efficacy, showing an average decrease of 30% in anxiety and depression-related symptoms.
The app’s launch in Australia is an important step towards using technology to address mental health. Ramakant Vempati, Co-Founder & President of Wysa, said “Wysa Assure is more than a mental health tool; it is an AI companion designed to assist anyone navigating life’s challenges. We are confident that Wysa Assure will help enhance the industry’s understanding of mental illness, paving the way for better protection and product design.”
