Our company has decided to introduce AI-OCR in its underwriting operations to NN Life Insurance Co., Ltd., which specializes in life insurance for small and medium-sized enterprises, and has begun preparations for implementation within 2022. In this project, by connecting this AI-OCR and a payment risk prediction model based on machine learning, we aim to achieve straight-through processing using AI in underwriting appraisal operations by 2022. The goal is to achieve this by the end of this year, and this will speed up the insurance enrollment process for customers.

Until now, NN Life has adopted a flow for medical assessments at the time of insurance underwriting, in which medical documents such as health examination results reports and medical checkup results sheets are received from customers by mail via recruiters and sales staff. In addition, after receiving documents at the head office, administrative staff visually check each item and manually enter data into data. There are more than 30 items to be visually checked per form, and medical documents are atypical forms that vary depending on the medical institution, so the process of mailing these documents and relying heavily on human resources has made the application process faster. This became a bottleneck in moving forward. By implementing AI-OCR, customers will no longer need to submit medical documents, and NN Life will automate the reading of medical document data and data entry.

Cinnamon AI has provided various AI solutions to many insurance companies in order to improve the efficiency of existing operations and improve customer service by taking new approaches to the market by promoting DX. This project utilizes the AI-OCR "Flax Scanner" to support the automation of reading irregular forms and converting them into data in straight-through processing.

NN Life's straight-through processing automatically performs medical assessments based on each test item converted into data by AI-OCR. This process uses a combination of machine learning models and a rules engine, making it possible to shorten the time it takes to complete an assessment from an average of two to three business days to as little as three minutes, depending on the level of risk underwritten. . By realizing straight-through processing in medical assessments, we aim to further improve operational efficiency and the customer experience during the membership application process.

Reference material: Image of realizing straight-through processing using AI (provided by NN Life)

In the future, Cinnamon AI will continue to strengthen DX promotion support for insurance companies by utilizing natural language processing (NLP) and voice recognition technology in addition to AI-OCR.

[Overview of NN Life Insurance Co., Ltd.]

Company name: NN Life Insurance Co., Ltd.

URL:https://www.nnlife.co.jp

Address: 44th floor, Shibuya Scramble Square, 2-24-12 Shibuya, Shibuya-ku, Tokyo

Established: October 1985

Representative: Frank Eisink, President and Representative Director

■Business content: Life insurance for small and medium-sized enterprises

NN Life is a member of the NN Group, which has its roots in the Netherlands and boasts a 175-year tradition. NN Group operates insurance and asset management businesses in 19 countries, with main bases in Europe and Japan. Its name comes from its origin, "Nationale Nederlanden." NNN Life started operations in 1986 as Japan's first European-born life insurance company, and for over 30 years, we have been providing products and services that protect the "values" of small and medium-sized enterprises. .

[Cinnamon Co., Ltd. company profile]

Company name: Cinnamon Co., Ltd.

URL:http://www.cinnamon.is

Address: 6th floor, Spirit Building, 3-19-13 Toranomon, Minato-ku, Tokyo

Established: October 2016

Representative: Mirai Hirano, Representative Director, President and CEO

■Business content: Artificial intelligence product business, artificial intelligence consulting business

Cinnamon AI's mission is to "create a world full of creativity with AI," and we are working on developing advanced business AI solutions, and we have a track record of providing them to many major domestic companies. In addition, we have established artificial intelligence laboratories in Vietnam (Hanoi and Ho Chi Minh City) and Taiwan, and have succeeded in acquiring a large number of AI engineers. Recently, in addition to the AI OCR "Flax Scanner," we have begun commercializing the specialized voice recognition technology "Rossa Voice," and have begun selling it mainly to major companies. In addition, Cinnamon AI has many advanced AI algorithms based on three unique research areas: “Digitize,” “Structure,” and “Understand.” We are continuously developing business AI solutions that utilize unstructured data.