Hong Kong-based insurance company FWD Group has established the FWD AI Lab in Singapore to enhance innovation in insurance through the application of artificial intelligence and data science.
By 2027, the lab aims to develop AI models and to build PhD-level agentic AI systems, in collaboration with the National University of Singapore and other research institutes.
The lab will serve as a centre of excellence for AI and generative AI technologies.
It will focus on areas such as personalised product recommendations, underwriting, claims, fraud detection, and agent recruitment and training.
The initiative is supported by the Singapore Economic Development Board (EDB).
It aligns with the country’s National AI Strategy (NAIS 2.0).
EDB’s vice president, Chen Yiwen, said, “FWD’s new lab joins a growing community of AI CoEs across different industries in Singapore. These AI CoEs help companies drive business transformation and unlock new opportunities through responsible AI adoption.”
The lab complements FWD’s participation in Pathfin.ai, led by the Monetary Authority of Singapore, which promotes knowledge exchange and accelerates AI adoption in the financial sector.
FWD recently joined the AI cohort programme led by the Insurance Authority in Hong Kong, to nurture talent and share best practices across the industry.
