Shinhan Life announced on December 18 that it has automated its product information management system using a generative artificial intelligence (AI) agent to effectively respond to the rapidly changing insurance market.
The product information management system is a core platform that integrates the management of insurance product structures, attributes, and rules. As insurance products have become more complex and the pace of revisions has accelerated, Shinhan Life has applied an AI agent to the system not only to improve work efficiency but also to enhance data accuracy.
The AI agent is designed so that when a manager uploads a list of products to be processed, it selects the necessary documents from the foundational document management system, structures the text and tables, and extracts product attribute information. It then automatically maps the extracted information to product codes and reflects them in the product information management system, thereby significantly improving the previously manual data entry process.
As the first phase of automating product information entry, Shinhan Life has implemented an automatic input process for insurance periods and premium payment periods based on subscription conditions. Since documents such as business method statements and sales regulations are written in various formats, tasks that previously required lengthy manual work can now be processed quickly, which is expected to significantly accelerate product development speed.
A Shinhan Life representative said, "By proactively responding to change in the era of AI transformation, we have been able to dramatically reduce the time required for product information entry, an issue we have long been concerned about. Going forward, we will expand the AI agent system to all aspects of product development and maintenance processes, and strive to develop innovative insurance products that lead market trends."
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