Lunit Selected as 'Best Collaboration Case' at Fintech Taipei Awards

Lunit CI (Photo by Lunit)

[Asia Economy Reporter Chunhee Lee] Medical artificial intelligence (AI) company Lunit announced on the 31st that its collaborative model applying Lunit AI solutions to the insurance enrollment process of Cathay Life Insurance, Taiwan's largest insurance company, was selected as the Best Co-creation Model Award at the 1st FinTech Taipei Awards 2022.

Lunit and Cathay Life Insurance signed a license agreement in July to use the chest X-ray AI image analysis solution 'Lunit INSIGHT CXR' during the insurance enrollment screening process. This case marked the first official adoption of Lunit AI solutions in the insurance screening process outside of medical institutions' clinical procedures.

The organizer of the awards, FinTech Taipei, explained that the application of AI solutions in the insurance enrollment screening process improved the accuracy of interpretations and drastically reduced the time required for enrollment screening, which led to its selection as the Best Co-creation Model Award. Established in 2018, FinTech Taipei is Taiwan's largest international fintech conference jointly hosted by the Taiwan Financial Supervisory Commission (FSC) and the Taiwan Financial Services Roundtable (TFSR). Starting this year, the FinTech Awards ceremony was held to select and announce innovative solutions and successful business cases in the fintech sector.

Fintech Taipei 2022 Logo (Photo by Lunit)

According to joint research conducted by the two companies, diagnosing over 30,000 chest X-ray images using Lunit INSIGHT CXR showed that the detection accuracy for lung diseases exceeded 90%. The total interpretation time was also significantly reduced by up to 90%, greatly increasing the efficiency of insurance screening.

Seob Beom-seok, CEO of Lunit, said, "Being selected for the Best Co-creation Model Award once again recognizes Lunit's technological competitiveness and the potential for use in various environments such as insurance companies. We will continue to expand our business areas so that Lunit AI products can play an important role in a wider range of markets in the future."

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