RGAx and Guardian Life make strategic investment in Omniscience

RGAx, the innovation and digital business unit of Reinsurance Group of America, and Guardian Life Insurance Company of America have made equity investments in artificial intelligence-powered technology platform Omniscience.

Omniscience's software solutions are designed to enable insurers and financial services firms to increase revenues, lower costs, reduce risk, and improve return on equity.

Omniscience is headquartered in Palo Alto, California. Its investors include Reinsurance Group of America, TD Bank and Translink Capital, among others.

“Machine learning and AI have the promise to solve many insurance industry challenges. Through the Omniscience platform, we are currently working to solve some of those challenges in Asia,” said Chandra Reddy, head of Japan, RGAx.