Heungkuk Life Insurance to Promote AI Document Recognition Business with Lomin

Heungkuk Life Insurance announced on the 31st that it signed an agreement on the 30th at its headquarters in Seoul with the startup Lomin to promote an artificial intelligence (AI) document recognition (OCR) project.

[Asia Economy Reporter Oh Hyung-gil] Heungkuk Life Insurance announced on the 31st that it signed an agreement on the 30th at its Seoul headquarters with the startup Romin to promote an artificial intelligence (AI) document recognition (OCR) business.

The two companies plan to build a system that automatically classifies various forms of reception content, which was previously entered manually, and extracts the corresponding text information to generate data-based automatic reception. Romin is leading document work automation by collaborating with various financial companies through its own AI OCR solution.

Accordingly, it is expected to minimize the manual process of handling document information when receiving insurance claims, thereby improving work efficiency and enhancing customer convenience.

In addition, the two companies plan to continue collaborating to expand AI-based systems throughout insurance operations to secure digital competitiveness.

Cho Heung-dong, Head of the Insurance Claims Review Department at Heungkuk Life Insurance, said, "Collaboration with companies equipped with digital innovation technologies like Romin is essential for digital transformation," adding, "We will accelerate the establishment of a customer-centered digital ecosystem."

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