BMO Insurance launches AI-enhanced SmartDecision tool delivering a faster and more seamless path to coverage for clients and advisors

at PR Newswire

  • Fully digital life insurance application experience with real-time underwriting decisions powered by advanced analytics, predictive modelling and AI-enhanced capabilities
  • Provides personalized real-time decisions up to an industry-leading $5 million across Term Life, Universal Life and Whole Life policies, aligned with BMO Insurance’s full accelerated underwriting limits
  • Helps clients move forward with coverage in the moment by eliminating traditional medical requirements for many applications

TORONTO, July 9, 2026 /CNW/ – BMO Insurance today announced the launch of SmartDecision, an innovative underwriting solution that uses advanced analytics and AI-enhanced capabilities to deliver real-time decisions to clients and advisors.

Available for eligible applications up to an industry-leading $5 million across its suite of life insurance products, SmartDecision represents a meaningful step forward in improving the underwriting journey. Leveraging advanced analytics, predictive modelling and AI-enhanced capabilities, the platform helps personalize client experiences and automate certain processes. SmartDecision also augments advisor capabilities, giving them more time to focus on client interactions. It evaluates risks and delivers decisions within seconds, reducing the traditional delays associated with underwriting requirements and follow-up meetings.

“We’re fundamentally changing how underwriting is delivered,” said Katarina Nikolic, VP & Chief Corporate Underwriter, BMO Insurance. “SmartDecision equips advisors with immediate, high-quality decisions and allows them to focus on what matters most – providing advice and building meaningful client relationships. It allows us to meet clients in the moment when they are ready to act.”

What Sets SmartDecision Apart

SmartDecision is designed for real-life advisor and client conversations, introducing a faster, more consistent approach to underwriting while reducing complexity across the application journey. Key features include:

  • Underwriting driven by data analytics, integrated AI and predictive modelling
  • Instant decisions up to $5 million, aligned with BMO Insurance’s full accelerated underwriting limits
  • Availability across Term Life, Universal Life and Whole Life applications
  • No traditional tele-interviews or medical evidence requirements for eligible applicants
  • An advisor-led, fully digital experience that supports faster, simpler client conversations

“We’re redefining what clients should expect from the life insurance experience,” said Rohit Thomas, President & CEO, BMO Insurance. “This milestone reflects our broader commitment to advancing artificial intelligence and digital capabilities across our business to drive greater efficiency, enhance decision-making and deliver better outcomes for clients and advisors.”

How SmartDecision Benefits Advisors

  • Real-time decisions at the point of sale, reducing cycle times from weeks to seconds
  • Coverage decisions up to $5 million for eligible applicants without traditional underwriting delays
  • Greater certainty and transparency during client conversations
  • More time for advice and client needs, with less time spent on administrative follow-up
  • Seamless integration into existing advisor workflows

Building a Simpler, Increasingly Digital Insurance Experience

SmartDecision builds on BMO Insurance’s digital capabilities, including Rovr AI and SmartApp, to help clients move from application to coverage faster and with greater confidence. These capabilities deliver a more connected, end-to-end experience that reflects how clients make decisions in real life. This milestone reinforces BMO Insurance’s focus on reducing friction and creating clearer, more immediate pathways to coverage through continued investment in innovation and digital capabilities.

For more information about SmartDecision, please visit: bmoinsurance.com/smartapp.

About BMO Insurance

BMO Insurance is a trusted provider of a comprehensive range of insurance products and services, supporting the diverse needs of individuals, families, and businesses across Canada. BMO Insurance is a brand name of BMO Life Assurance Company.

Our solutions extend beyond life and annuities, encompassing creditor insurance, pet insurance, travel insurance, and pension risk transfer solutions. At BMO Insurance, we are committed to empowering advisors and clients alike with innovative tools, personalized service, and strategic insights that drive success.

As part of the broader BMO Financial Group, we are dedicated to helping our clients achieve their financial goals, backed by the strength and stability of one of North America’s leading financial institutions. Our commitment to innovation and excellence reinforces BMO Insurance’s position as a trusted partner for advisors and clients, now and in the future.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of April 30, 2026. Serving clients for more than 200 years, BMO provides a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services across Canada, the United States, and select markets globally. BMO is innovating for business value, by deploying and integrating human, digital and artificial intelligence to personalize client experiences, augment teams, and automate its business responsibly. Driven by its purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE BMO Financial Group