The tool clears applicants for up to $5 million coverage with no medical evidence required
BMO Insurance has launched an underwriting platform it says can return life insurance decisions on coverage of up to $5m within seconds, compressing a process that the company says has traditionally run over weeks.
According to BMO Insurance, the tool, called SmartDecision, draws on data analytics, predictive modelling and what it describes as AI-enhanced capabilities to assess risk and deliver decisions in real time at the point of sale.
The company said the $5m ceiling for instant decisions aligns with its full accelerated underwriting limits.
SmartDecision covers term life, universal life and whole life applications, the insurer said, and eligible applicants face no traditional tele-interviews or medical evidence requirements.
BMO Insurance said the experience is advisor-led and fully digital.
The company positioned the launch as a way to give advisors faster, more consistent decisions while cutting administrative follow-up.
Katarina Nikolic, vice-president and chief corporate underwriter at BMO Insurance, said SmartDecision is "fundamentally changing how underwriting is delivered," giving advisors immediate decisions and freeing them to focus on client advice.
For advisors, the tool reduces cycle times from weeks to seconds and slots into existing workflows, the company said, giving greater certainty and transparency during client conversations.
Rohit Thomas, president and CEO of BMO Insurance, tied the release to a broader rollout of artificial intelligence and digital tools across the business, aimed at improving efficiency and decision-making for clients and advisors.
SmartDecision builds on earlier BMO Insurance tools, including Rovr AI and SmartApp, that move clients from application to coverage, as per the announcement.
