The Life Insurance Association will put artificial intelligence (AI) into repetitive and regular tas..

The Life Insurance Association will put artificial intelligence (AI) into repetitive and regular tasks such as responding to civil complaints and deliberating on advertisements. While insurance companies are expanding their application of AI to all tasks such as product development, sales, and customer counseling, the association is also speeding up its "AI transformation (AX)" at the association level.

On the 7th, the Korea Life Insurance Cooperative announced that it will officially operate three systems starting this month: civil complaint management AI, advertising review AI, and internal regulation AI. The civil complaint management AI converts the contents of the consultation into real-time text messages, automatically classifies the types of civil complaints, and presents necessary data to the counselor. The AI for advertisement review will first review advertisements based on the association's regulations and deliberation standards, and the person in charge will make the final decision.

It also applies AI to its internal work. AI searches 136 internal regulations operated by the association and presents related provisions and grounds. Within this year, AI will also be developed to support questions on the insurance planner's registration qualification test. The association plans to push for a total of 17 AI tasks by 2027 by expanding the scope of its use to legal review, public data verification, article clipping, and contract review.

We will develop AI into a basic infrastructure that supports the association's overall work, and share construction experiences and use cases with member companies to enhance the life insurance industry's overall use of AI, said Kim Chul-joo, president of the Life Insurance Association.

Industry experts say that the use of AI in the financial sector has gone beyond simple documentation or search and has entered the core insurance business directly. An insurance industry official said, "Insurance is an industry that has a high proportion of repeated review tasks because there are many documents to be checked, such as products, terms, and regulations. If security and accuracy are secured, there is considerable room for productivity improvement due to the introduction of AI."