Suncorp Invests AI To Improve Affordability

Suncorp CEO Steve Johnston said at the insurer’s half-year results briefing that the company is investing in AI and a new 'Digital Insurer' policy platform to design more affordable products for the 2–4% of Australians and New Zealanders who cannot obtain affordable insurance. The insurer is implementing Duck Creek for policy administration, working with Databricks and other vendors, and reported a $263 million net profit after tax for the first half, noting extreme-weather payouts affected results.