TSX/NYSE/PSE: MFC SEHK: 945
GenAI-Powered Life Insurance Quote-Generation Engine Drastically Reduces Turnaround Times to Minutes
BOSTON, Jan. 29, 2026 /PRNewswire/ - John Hancock announced the launch of its innovative generative artificial intelligence (GenAI) based underwriting support tool, Quick Quote, designed to help streamline the preliminary assessment process for purchasing life insurance. This innovative tool is among the first reasoning-based GenAI quote-generating engines in the U.S. life insurance market and marks a significant advancement in underwriting efficiency and customer experience.
"At John Hancock, we are always looking to leverage the most innovative technology to enhance and streamline the purchase experience for both our customers and our distribution partners, which is why we're proud to bring the innovative GenAI-based Quick Quote tool to market," said Brooks Tingle, president and CEO, John Hancock. "Quick Quote delivers faster, more consistent initial underwriting assessments in response to agent inquiries, enhancing our underwriting efficiency and creating a more frictionless experience."
The Quick Quote tool leverages GenAI to significantly reduce the manual and time-consuming nature of typical preliminary underwriting assessment processes for less complex cases, reducing the average time required from one day to just 15 minutes. The engine is designed to process over 4,000 Quick Quote requests per month, allowing underwriters to focus their time on more complex inquiries and formal applications, which ultimately enhances both the customer's and the agent's experience. Quick Quote was originally launched as a pilot at the end of 2024 and has since successfully supported over 20,000 cases, demonstrating its capability to handle a high volume of requests efficiently.
"Quick Quote isn't just about efficiency – it's about streamlining the life insurance purchase experience," said Hector Martinez, Head of Insurance, John Hancock. "By harnessing advanced AI capabilities in this way, we're able to deliver faster initial assessments and make our solutions more accessible for advisors. This innovative benchmark will ultimately allow more families to tap into the value of our solutions to help them live longer, healthier, better lives."
This initiative is part of John Hancock and its parent company Manulife's global strategy to become an AI-powered organization, committed to responsibly integrating AI solutions at scale as a means of driving growth, enhancing efficiency, and delivering world-class customer experiences.
To learn more about Manulife and John Hancock's AI progress, visit AI @ Manulife.
About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services provider that helps people make their decisions easier and lives better by providing financial advice, insurance, and wealth and asset management solutions. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than ten million Americans with a broad range of financial products, including life insurance and annuities. John Hancock also supports US investors by bringing investment capabilities and retirement planning and administration expertise to individuals and institutions. Additional information about John Hancock may be found at johnhancock.com.
About Quick Quote
Quick Quote provides a non-binding initial underwriting assessment based solely on general information provided by an agent. It does not constitute an application for insurance. Any life insurance purchase requires completion of a formal application and a comprehensive underwriting process and evaluation. Quick Quotes are intended for individuals up to age 75 and face amounts up to $10 million.
Media Contact
[email protected]
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.
MLINY012326866-1
View original content to download multimedia:https://www.prnewswire.com/news-releases/john-hancock-unveils-genai-based-underwriting-support-tool-quick-quote-302673381.html
SOURCE John Hancock