Artificial intelligence in the insurance industry: Die Bayerische

The insurance group Die Bayerische was founded in 1858, and the Group’s total premium income amounts to over 440 million euros. The Group is continuously increasing its equity and is therefore well above the industry average. Investments of over 4.5 billion euros are managed. More than 6,000 personal advisors are available to Bayerische customers throughout Germany. The rating agency Assekurata has once again given BL die Bayerische Lebensversicherungs AG a quality rating of A+ (very good) in a recent comprehensive company analysis.

We spoke to Armin Hangl, the project manager responsible for the implementation of AI at Bayerische:


Bayerische focuses on innovation and simple processes – do you already use AI in your company?

Yes, we are already using AI in our company, although not yet on a large scale.


How many typical use cases are there for the use of AI in an insurance company?

That’s difficult to say, as I don’t think all employees are yet fully aware of what is already possible with AI.


Is the use of AI still “experimental” or is it already bringing measurable added value to increase efficiency at Bayerische?

We are currently on the verge of the first major improvements. Until these deliver measurable added value, we are talking about a pilot phase.


Can an insurance company use cloud-based AI at all?

Yes, that is indeed possible. Of course, we first check the provider, the application and its architecture, as well as the processing of the data against the applicable guidelines and laws.


What hurdles and obstacles are there specifically when using AI in an insurance company?

Hurdles and obstacles go hand in hand with any use of new technologies. Therefore, I don’t see any new obstacles to the use of AI. In my experience, there are regulatory issues, personal reservations, and existing systems and mechanisms that need to be adapted for use.


Have customized AI solutions already been developed for Bayerische?

No, our partner offers AI solutions that are suitable for Bayerische’s specific cases without having to deviate from a versatile application.


If so, are there partnerships with AI start-ups such as OpenAI, Cohere, or Anthropic?

So far, there are no partnerships with the start-ups mentioned.


Are there any reservations about the use of AI in your organization?

Of course, we also have doubts about the use of AI. Everything from fears about the workplace to “Do we really need this?” In my opinion, this is normal behavior when there is still little information available. We are responding to this with training and interactive events for all employees.


How can the use of AI be reconciled with the strict German data protection laws?

Very well. We work closely and constructively with our data protection and information security officers. This allows us to decide for or against its use with a clear conscience.


Are there any fears that data and knowledge could be leaked through the use of AI?

I have no such fears because, as already mentioned, we work closely with our data protection and information security officers and check the applications before they are used.


What are your wishes with regard to AI? What should it do better for policyholders and Bayerische?

My wishes for AI are that it works for the benefit of people and offers more convenience and service. This applies to Bayerische and its employees as well as to our customers.

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