Establishment of
Automated Disease Underwriting System Integrating Insurance Planning and Underwriting Review Systems
[Asia Economy Reporter Ki Ha-young] DB Insurance announced on the 19th that it has introduced the "Disease Review Automation System," which is the first in the non-life insurance industry to decide in real-time whether to accept coverage based on the treatment history disclosed by customers at the time of insurance subscription.
From June 2018 to November last year, DB Insurance utilized contract review data to establish approximately 160,000 scenarios that influence insurance subscription conditions, building an automated disease review system that can automatically determine whether to accept insurance coverage.
Currently, most of the industry’s insurance contract reviews are guided by underwriters based on underwriting manuals. Through the development of this system, DB Insurance can now provide customers with subscription conditions and review results more accurately and quickly.
The system, which was piloted from November last year, has been fully operational company-wide since this month. In January 2020, about 10,000 cases were reviewed through the system and communicated to customers, with quality monitoring of the system reviews conducted.
In particular, the company explained that as the automated review rate increases with the Disease Review Automation System, existing underwriters can focus on more complex cases, and through communication with sales sites, customers can be guided to optimal insurance subscription conditions.
A DB Insurance official stated, "By utilizing streamlined personnel through this system development, we plan to continuously expand disease review scenarios to broaden the automation scope and enhance the precision of reviews. We also intend to apply accumulated big data and artificial intelligence (AI) learning techniques to the Disease Review Automation System to advance its sophistication."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
