Knowledge
【Information】AI Insurance Underwriting and Claim: The collaboration of HowiseAI and MMXtion helps the insurance industry "Three Savings a Day"
In the recent years, the issue of artificial intelligence have been heated up continuously. In addition to more convenient life, many applications have also extended to a variety of different industrial fields. The insurance industry is no exception. HowiseAI (Original English name is AI Clerk International Co., LTD.) , an AI startup specializing in natural language processing, and MMXtion, providing well-known and considerate service for insurance industry, have cooperated to launch "AI Insurance Underwriting and Claim" to help insurance industry "three savings a day, saving time, labor, and money".
The traditional insurance underwriting and claims process requires manual collection and classification in thousands of data, which is very time-consuming and labor-intensive. HowiseAI CEO Dr. Ru-Yng Chang said that natural language processing can extract and understand text data from speeches, documents, and graphics, so that computers can generate statistical and analytical information, and even achieve the prediction and understanding. According to the research organization, natural language processing in the field of artificial intelligence will generate US$26.4 billion in 2024, of which insurance and finance will account for the largest market because natural language processing can help these industries improve operating efficiency and reducing cost.
MMXtion general manager T. Chao expressed his appreciation for HowiseAI's solid theoretical and practical experience in natural language processing. “AI Insurance Underwriting and Claim” can capture and classify document information and provide an intelligent one-stop process for traditional insurance claims. This service greatly saves time and labor and truly reaches "three savings a day, saving time, labor, and money". In addition, it can also generate benefits such as more accurate actuarial rate and design new insurance products.
HowiseAI International Co., LTD. has more than 25 years experience of natural language processing technology. The main core members come from Computational Intelligence Technology Center of the Industrial Technology Research Institute. HowiseAI specializes in machine learning, text mining, semantic understanding and natural language processing and won many awards in domestic and foreign competitions, which includes 2021 National Innovation Award-Enterprise Innovation Award, 2021 City Data Application Competition(Best Data Innovation Award and Brand Partner Award), 2021 AiGO (from 231 Teams), AI 50 Campaign of Smart City Summit & Expo for two consecutive years, ITMonth| 100 Innovative IT Application /Products: The Golden Award Winner and 100 I.T Innovative Elite (form about 400 ICT Products) and so on. MMXtion Technology Co., Ltd. is a subsidiary of TUNG-I INFORMATION SERVICE CO., LTD. for 30 years and has practical experience in RPA (Robotic Process Automation), image recognition and other technology development. Through strong cooperation between two parties, they will help the insurance industry more effective in the underwriting and claims process.
昊慧股份有限公司
HowiseAI International Co., LTD.
https://Howise-AI.com
人工智慧 自然語言處理 機器學習 大數據分析
AI Natural Language Processing Machine Learning Big Data