Shinhan Life Launches AI Underwriting System 'AI Wonderwriter'

Shinhan Life announced on the 17th that it has launched the artificial intelligence (AI) underwriting system 'AI Wonderwriter,' based on big data analysis.

[Asia Economy Reporter Oh Hyung-gil] Shinhan Life announced on the 17th that it is operating an artificial intelligence (AI) underwriting system called 'AI Wonderwriter,' based on big data analysis.

AI Wonderwriter is an AI system that predicts underwriting results by learning data based on machine learning. It has established various underwriting criteria for approximately 2,100 diseases to implement a sophisticated model. Previously, even light illnesses or accidents required underwriters to handle cases directly, resulting in long waiting times, but with the introduction of AI Wonderwriter, rapid and precise underwriting is expected to be possible.

Additionally, by generating risk grades for each contract, contracts with high-risk groups can be managed from the contract allocation stage to underwriters, further improving underwriting efficiency. It is expected to enhance customer convenience by providing real-time updates on underwriting progress and estimated completion dates, and allowing immediate confirmation of eligibility for enrollment.

A Shinhan Life official stated, "We developed this system in-house to introduce sophisticated AI underwriting based on big data analysis," adding, "We plan to increase customer convenience and further improve underwriting quality."

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