NongHyup Life Insurance Introduces Robotic Process Automation System for 'Digital Innovation'

[Asia Economy Reporter Oh Hyung-gil] NH NongHyup Life Insurance is accelerating its transition to a digital insurance company by starting the construction of a 'Robotic Process Automation (RPA) system' to digitalize its operations.

According to the insurance industry on the 18th, NongHyup Life Insurance is operating a dedicated task force (TF) to optimize the introduction of RPA and is focusing on technical review and development of application tasks. Ten tasks, including automation of underwriting information input that aligns with the purpose of RPA introduction, have been selected as priority tasks, with plans to complete development by January next year.

RPA is a digital new technology that maximizes work efficiency by applying robotic software to automate repetitive and standardized tasks performed by employees.

To enhance digital competitiveness, NongHyup Life Insurance established a Digital Strategy Bureau and began building a machine learning-based big data analysis platform last September. The goal is to utilize vast data on customers and contracts to create new business models and provide optimized information to customers.

They plan to develop an insurance additional subscription prediction model to predict and propose the insurance customers need. Agents can increase the likelihood of concluding new contracts, and customers can receive tailored product proposals.

Additionally, they will introduce digital infrastructure such as Optical Character Recognition (OCR) and Speech-to-Text (STT) to develop and launch convenient digital customer services for insurance product subscription, management, and claims.

An NH NongHyup Life Insurance official said, "We are focusing our capabilities on internal work efficiency through digital transformation," adding, "We will become a digital insurance company that maximizes management performance improvement and customer-centric services."

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