FWD Group establishes AI Lab in Singapore with EDB support

This press release was issued by FWD Group.

FWD Group Holdings Limited (“FWD Group” or “FWD”) today announced the inauguration of the FWD AI Lab in Singapore, a strategic move to accelerate innovation in insurance through artificial intelligence (“AI”) and data science.

By 2027, the FWD AI Lab aims to deliver hundreds of AI models and to build PhD-level agentic AI systems, in collaboration with the National University of Singapore and other research institutes. The initiative is supported by the Singapore Economic Development Board (“EDB”) and aligns with the country’s National AI Strategy (“NAIS 2.0”).

The FWD AI Lab is designed to be a centre of excellence (“CoE”), where cutting-edge AI and generative AI technologies are developed and deployed to address insurance industry opportunities and challenges. From personalised product recommendations, underwriting, claims to fraud detection, agent recruitment and training, the FWD AI Lab aims to make the insurance experience faster and more intuitive for customers.

Complementing these efforts, FWD Group is also a participant in the Pathfin.ai programme, led by the Monetary Authority of Singapore (MAS) in collaboration with the financial industry. The programme fosters knowledge exchange and accelerates adoption in AI implementation.

FWD Group embarked on its AI journey in 2019 and first began exploring generative AI opportunities in 2022. Earlier this year, FWD Group joined the AI cohort programme, led by the Insurance Authority (IA) in Hong Kong, as a core participant. The IA initiative aims to establish centres of excellence, nurture talent, and foster experience sharing across the industry.