iM Life Enhances Due Diligence System with AI Technology

iM Life announced on the 18th that it will operate an advanced 'Expert Underwriting System (EUS)' enhanced with artificial intelligence (AI) technology.

This EUS advancement is an underwriting system that provides rapid and objective assessment results, aimed at strengthening iM Life's underwriting competitiveness and maximizing convenience for customers and sales sites. iM Life has refined key areas including ▲AI-based risk assessment ▲pre-underwriting automation ▲electronic manuals for disease review ▲one-stop approval.

iM Life has incorporated the insurance industry's first AI financial review function into the EUS. This feature uses machine learning AI that learns autonomously to analyze customers' financial information and derive scores, helping to evaluate customers' financial status more efficiently and accurately. iM Life plans to utilize this to strengthen financial reviews for high-value death insurance.

Additionally, iM Life reflected data from the Credit Information Service (ICIS) in the pre-underwriting automation system and optimized the input screen to minimize the items customers need to enter. To quickly process precise reviews of various diseases when confirming insurance eligibility, the latest underwriting acceptance standards for disease review were applied and the review process was automated. The 'one-stop approval process,' which issues insurance policies immediately upon subscription approval for normal acceptance cases, was also introduced to enhance convenience and satisfaction for customers.

Jung Hyun-soo, Head of Customer Support at iM Life, said, "With this system advancement, we expect to provide customers with a more precise and faster insurance subscription experience," adding, "iM Life will continue to strengthen its digital capabilities to offer exceptional services and establish itself as a trusted insurer."

Meanwhile, iM Life is continuing efforts to enhance digital financial services at customer touchpoints by building a Robotic Process Automation (RPA) system, advancing the sales support system 'FC·GA SMART,' and digitizing subscription documents.