NH Nonghyup Sonbo, Introduces 'Automated Insurance Claim Review System'

[Financial News] NH Nonghyup Sonhae Insurance announced on the 27th that it has introduced an 'Automated Insurance Claim Review System' utilizing artificial intelligence (AI) technology for accident insurance payments.
'Automated Insurance Claim Review System' applies an automated algorithm based on AI. It uses Optical Character Recognition (OCR) technology to automatically extract data from receipt images submitted by customers and analyzes it in real-time to determine the suitability for automatic accident insurance claim review. With AI performing a significant portion of the review, it is expected that insurance payments will be faster and more accurate.
Nonghyup Sonhae Insurance plans to expand the proportion of automated insurance claim reviews to a maximum of 17% by 2028. The cost-saving effect is estimated to be approximately 3.3 billion won. Small insurance claims such as indemnity will be processed immediately through automatic review, and review personnel will be responsible for high-risk reviews to enhance overall work capabilities.
coddy@fnnews.com Yebyeongjeong Reporter