NH NongHyup Insurance Introduces 'Automated Insurance Claim Assessment System'

NH NongHyup General Insurance announced on the 27th that it has introduced an 'Automated Insurance Claim Assessment System' utilizing artificial intelligence (AI) technology for accident insurance payments.

The 'Automated Insurance Claim Assessment System' applies an automated algorithm based on AI. By utilizing Optical Character Recognition (OCR) technology, it automatically extracts data from receipt images submitted by customers and analyzes it in real-time to determine the suitability of automated accident insurance claim assessments. As a significant portion of the assessment is performed by AI, it is expected that insurance payments will be made more quickly and accurately.

NongHyup General Insurance plans to expand the proportion of automated insurance claim assessments 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 automated assessments, and the assessment personnel will handle high-risk assessments to enhance overall work capabilities.

Reporter Yebyeong Jeong