About FIS' Gen AI Assistant for Insurance Risk Suite
Actuaries spend a substantial amount of their time searching for information buried in technical documentation on risk modelling. Global financial technology leader FIS is changing that with the launch of its Insurance Risk Suite AI Assistant, a generative AI tool that instantly answers complex questions about building and maintaining risk models – in any language.
The tool arrives at a critical juncture for the industry.
As climate volatility drives unprecedented claims patterns and cyber threats reshape risk portfolios, insurers need faster, more accurate modelling to stay ahead. Traditional actuarial processes cannot keep pace with risks that evolve daily rather than quarterly.
Navigating modern risk volatility
The FIS Insurance Risk Suite AI Assistant acts as an always-available expert, eliminating hours of manual searching and helping actuaries build resilient models. This efficiency allows insurers to price policies more competitively while maintaining profitability and detecting emerging risks earlier.
"Businesses need powerful modeling, risk management and reporting tools to accurately quantify their exposure and keep their money hard at work,” says J.P. James, Group President, Office of the CFO at FIS.
“But as these risks become more interconnected and harder to predict, actuaries also need tools that don't slow them down. By embedding AI assistance directly into our Insurance Risk Suite, we're giving actuaries more time to focus on what truly matters: accurately quantifying, reporting, managing and mitigating risk."
A core benefit of the solution is its intuitive interface, which provides real-time guidance on model operation and maintenance. By lowering the technical barrier to entry for navigating documentation, FIS is making deep actuarial expertise accessible to teams of any size.
The current release is the first step in a broader rollout of intelligent capabilities. The AI assistant’s functions are expected to expand to include code writing and improvement, automated documentation, run descriptions and detailed explanations of calculations and errors.
These planned updates reflect a commitment from FIS to unlock continuous innovation in financial technology across the money lifecycle, ensuring that the technology underpinning the global financial system remains as adaptive as the market it serves.
FIS - the move toward AI
FIS recently finalised a landmark US$13.5bn acquisition of Global Payments’ Issuer Solutions business, formerly known as TSYS. This strategic move solidifies FIS as a global leader in credit processing, adding a massive portfolio that handles over 40 billion transactions annually across 75 countries.
Parallel to this deal, FIS launched its first agentic commerce solution. This technology enables AI digital assistants to autonomously source, negotiate, and complete financial transactions on behalf of consumers. By integrating these AI-driven agents into existing trusted authorisation and fraud frameworks, FIS aims to keep traditional banks central to a market that McKinsey predicts could reach US$5tn globally by 2030.
The combined power of TSYS’s vast data and FIS’s existing banking infrastructure creates a potent data intelligence engine. This allows financial institutions to utilise Know Your Agent (KYA) protocols to securely authorise AI-initiated payments.
Ultimately, the deal positions FIS to lead the shift from traditional digital payments to a future defined by autonomous, AI-orchestrated commerce.
