Driving Customer Convenience Innovation Through Insurance Data Enhancement
Shinhan Life announced on September 12 that it has completed a knowledge base construction project to utilize generative artificial intelligence (AI) and will now actively pursue innovations to enhance customer convenience.
While the adoption of generative AI is accelerating across various industries, the insurance sector has faced significant challenges in applying such technology to customer services due to the high level of expertise required for foundational documents and the complexity of insurance products. To ensure reliable AI services, it is essential to convert various types of documents into data that AI can learn from and reference.
Since October of last year, Shinhan Life has been working on a project to digitize and meticulously structure approximately 20,000 types of foundational insurance documents, including policy terms, calculation method statements, and sales regulations. By leveraging advanced AI technology, the company has aimed to improve the accuracy and efficiency of data organization and to secure high-quality datasets that AI can utilize, carrying out the initiative in several phases.
With the successful completion of this project, Shinhan Life has established a knowledge base that allows AI to efficiently understand and utilize the characteristics of insurance products, maintaining reference relationships between documents such as main contracts, riders, and appendices, while also comprehending the context of unstructured documents. As a result, customers can now receive accurate and natural responses from AI based on policy terms, even when asking questions in everyday language.
Going forward, Shinhan Life plans to deliver a new level of customer service across various areas, including enhanced coverage analysis, automated customer Q&A, and improved complaint response services. The company will offer hyper-personalized, data-driven insurance planning, dramatically shortening the new contract process from initial planning to approval, while managing underwriting risks and introducing an AI agent that recommends optimal insurance products for each customer.
A Shinhan Life representative stated, "Through this project, we have completed the first step toward the stable use of generative AI across all aspects of insurance operations," adding, "We will continue to drive innovation to maximize customer convenience by improving work efficiency and service quality based on an AI infrastructure specialized for the insurance industry."
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