Hanwha Systems Establishes AI Automatic Car Repair Cost Estimation System 'AOS Alpha'

Insurance Development Institute's 'AOS Alpha' Developed and Built with Hanwha Systems' AI Technology

[Asia Economy Reporter Ki-min Lee] Hanwha Systems announced on the 6th that it has completed the construction of the Automobile Repair Cost On-line Service-α (AOS Alpha), an AI-based automatic car repair cost estimation system developed by the Korea Insurance Development Institute, and will begin full-scale service.

'AOS Alpha' is a mobile service application that uses AI to analyze photos of accident vehicles, accurately recognize damaged parts and damage severity, and automatically calculate the estimated repair cost of the vehicle.

When running 'AOS Alpha', it recognizes the vehicle number and chassis number of the accident vehicle, and sequentially proceeds through ▲classification of photos for estimation ▲recognition of parts and damage ▲judgment of damage severity by photographing the accident area of the vehicle.

Hanwha Systems explained that it enables customers to receive estimated repair cost quotes within seconds at the accident site, significantly reducing the time required from accident reporting to compensation compared to existing processes.

Domestic 12 non-life insurance companies including Samsung Fire & Marine Insurance, Hyundai Marine & Fire Insurance, DB Insurance, KB Insurance, Meritz Fire & Marine Insurance, Hanwha General Insurance, AXA General Insurance, and 6 mutual aid associations have adopted 'AOS Alpha', which is expected to make support for automobile insurance accident reporting, claims, and damage assessment compensation tasks faster and more convenient.

Hanwha Systems' 'AOS Alpha' mobile app using lightweight AI to recognize accident locations in real time

Recognition of vehicle parts and damages through 'AOS Alpha' AI modeling

With an investment of 5.5 billion KRW, 'AOS Alpha' was promoted as part of strengthening InsurTech (a combination of insurance and technology). Insurance companies and repair shops can use 'AOS Alpha' simply by upgrading the existing online accident vehicle estimation system (AOS). Hanwha Systems and the Korea Insurance Development Institute expect the demand for 'AOS Alpha' to increase beyond initial predictions due to the activation of untact (contactless) services amid the COVID-19 pandemic.

Previously, Hanwha Systems launched a dedicated AI organization in the ICT sector in October last year. Leveraging Hanwha Systems' AI technology, it built Hanwha General Insurance's 'Alpha Claim System' in 2018 and introduced the 'Claim AI Automatic Review System' at Hanwha Life Insurance in January this year.

The AI claim system automatically classifies and analyzes documents and requirements related to insurance payment requests to review payment eligibility. With the commercialization of the Korea Insurance Development Institute's vehicle damage AI automatic estimation system 'AOS Alpha', Hanwha Systems has established AI services based on both image and data in the insurance industry.

Kim Yeon-cheol, CEO of Hanwha Systems, stated, “Hanwha Systems will continue to develop AI systems specialized for the finance and insurance industries and strengthen capabilities to provide untact services to expand consumer touchpoints in the post-COVID era.”

This content was produced with the assistance of AI translation services.