iM Life to Enhance AI Fraud Detection System... "Strengthening Customer Service Quality"

Proactive Response to Organized Insurance Fraud
Building an Automated System for Claim Submission, Review, and Payment

On May 19, iM Life announced that it plans to fully implement its artificial intelligence (AI)-based Fraud Detection System (FDS) to enhance its insurance claim review process.

Once the FDS upgrade is completed, customers will be able to receive their insurance claim payouts more quickly. The introduction of an automated review process is expected to accelerate processing speed and increase the accuracy of detecting abnormal signs.

The company expects that, after the FDS upgrade, factors causing delays in payments for legitimate insurance claims will be reduced. They also anticipate improvements in the consistency of review criteria and greater convenience for employees during their work.

In terms of system architecture, iM Life will adopt a hybrid approach that combines data machine learning-based analytical models with rule-based review systems.

Automation will be introduced throughout the entire process, from claim submission to review and payout, and network analysis technology will be used to strengthen the detection of organized insurance fraud schemes.

This measure is intended to respond both to the increasing number of insurance claims and to the growing sophistication and organization of fraud types.

The company analyzed that the rising number of insurance claims is due to growing demand for products such as dementia and long-term care insurance, which address the needs of an aging population and increased life expectancy.

They also diagnosed that, industry-wide, establishing an automated insurance claim review and payment system has emerged as a core challenge.

Kyungwon Park, CEO of iM Life, stated, "For insurance companies, the basic promise to customers is to process claims quickly and to detect fraudulent claims accurately. We will continue to provide customers with faster and more reliable services."

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