iA Financial Group expands insurance underwriting with FICO platform, aiming for 80% automation

iA Financial Group has partnered with FICO to enhance and scale its underwriting processes using the FICO Platform. With over 50% of underwriting already automated, iA now targets 80% automation by 2030, reinforcing its leadership in Canada’s individual life insurance market.

The FICO Platform enables real-time underwriting decisions, faster policy approvals, and improved workflows for advisors and clients. The integration has given iA deeper insight into policy submissions, enabling more refined risk assessments, enhanced efficiency, and improved policy conversion rates.

As part of this initiative, iA received the 2025 FICO Decision Industry Vanguard Award. The company serves over five million clients and manages nearly $260 billion in assets.

iA executives emphasized that the platform enhances both precision and responsiveness in underwriting, aligning with their strategy to blend digital technology with human expertise.

FICO noted the partnership demonstrates how AI-powered decisioning is modernizing the insurance industry, improving customer experience while reducing operational costs.