Our company has implemented a capital increase of 500 million yen through third-party allotment with Dai-ichi Life Insurance Co., Ltd. as the underwriter. Aiming to create new business structures for the AI era from the knowledge held by customers, we will continue to strengthen AI consulting, AI products, and organizational structures, and promote digital transformation (DX) of the entire insurance industry. I aim for it.

<Promoting business synergies: Transforming the life insurance industry value chain using AI>
By implementing this third-party allotment of capital, Cinnamon AI will pursue business synergies with Dai-ichi Life towards fundamental changes in the value chain of the life insurance industry.

Cinnamon AI has been using AI technology to convert "handwritten letters containing medical terminology" (unstructured data) of medical certificates submitted when making insurance claims and benefits claims into text characters (structured data). We have provided it to Dai-ichi Life. We believe that the use of such unstructured data can be applied to Dai-ichi Life's consulting sales, contract management operations, and quality aspects such as compliance, where "AI" becomes a "buddy" for "people." We aim to improve the sophistication and efficiency of operations in the value chain.

Additionally, through personnel exchanges with Dai-ichi Life, Cinnamon AI will leverage its advanced AI technology and sense of speed unique to a startup to support the development of AI talent among Dai-ichi Life employees. Through these business synergies, Cinnamon AI aims to promote DX in the insurance industry as a whole, including Dai-ichi Life.

<Comment from Dai-ichi Life Managing Executive Officer Mr. Iwai>

Cinnamon AI is making a major contribution to improving administrative efficiency as we are required to further reform our work styles in order to quickly and reliably pay insurance claims and benefits to our customers. We developed an AI-OCR engine. During development, we collaborated with AI products by providing appropriate consulting to design the integration of AI and business, in addition to their technical capabilities, such as the appropriate design of the parts that interface with users. The collaborative process of this AI product is playing a major role in considering the use of AI technology in other operations. AI machine learning technology has great potential, such as replacing customer service, which has become a cost center.In addition to Cinnamon's AI technology capabilities, we believe that Cinnamon's consulting capabilities in AI products will be of great value to us as a company. We have high hopes that this will become a source of competitiveness for the company.

Through our efforts to date, in addition to demonstrating the high level of AI technology that we expect, we have also actively promoted understanding of our business and worked together with our employees to propose ideas for applying AI to our business, in order to improve quality. I feel that I can rely on him as a business partner because of his attitude of continuing to pursue pursuits and leading projects.

In order to apply AI to business, we believe that rather than having only AI vendors create AI, our employees must understand and utilize AI as a matter of course. Indeed, by proactively proposing new possibilities for using AI, Cinnamon is contributing to our group's deeper understanding of AI technology. I am confident that the time will come when we will be able to use AI as a matter of course.

Through this strengthened partnership, we hope that Cinnamon AI's advanced AI technology will make our operations more efficient and sophisticated in various fields. As the number of cases in which AI is utilized for business is increasing in many industries, we would like to work together to lead the digital transformation (DX) of the life insurance industry.

<Comment from Cinnamon AI CEO Hirano>

As of 2022, the insurance industry is undergoing dramatic changes. We have expanded the scope of our business from the traditional idea of purchasing insurance in case of illness or injury to include medical care and will-being, and it can be said that we are moving toward the ultimate state where nothing to worry about will happen in the first place. .

In digital transformation (DX), revolutionary evolution will occur in areas such as maximizing customer contact points, personalizing insurance products, and streamlining sales activities and various procedures. We at Cinnamon AI have been conducting research and development believing that the key to achieving these goals is the aggregation and sophistication of knowledge.

We have been working with Dai-ichi Life to consider AI implementation projects since 2017, when interest in AI began to grow. While there are few companies implementing AI implementation, we are deeply grateful to you for contacting our company, which has just been established, and for starting and nurturing the project. After that, we were able to use Cinnamon AI's AI-OCR engine "Flax Scanner" in our actual work, and we are happy to have been able to contribute to the promotion of DX.

From now on, by systematizing the technology we have cultivated for extracting knowledge from unstructured data as a Knowledge Hub, we will widely provide it to the entire insurance industry and promote DX for the entire industry.

In addition, due to the insurance industry's large social responsibility, responsible efforts in areas such as diversity, sustainability, and resilience are also emphasized. We are confident that the use of AI can make a significant contribution in this area, and are planning to turn it into a project, and we hope that you will look forward to it.

<Future initiatives>
Cinnamon AI will promote collaboration with Dai-ichi Life, which aims to create innovation by accelerating InsTech, and will also encourage companies in the insurance industry to create new business structures for the AI era from the knowledge held by customers and achieve dramatic growth. We will continue to provide advanced AI solutions as a leading sherpa of change.

[Dai-ichi Life Insurance Co., Ltd. Company Profile]
Company name: Dai-ichi Life Insurance Co., Ltd.
URL:https://www.dai-ichi-life.co.jp
Location: 1-13-1 Yurakucho, Chiyoda-ku, Tokyo
Established: September 1902
Representative: Seiji Inagaki, President and Representative Director

[Cinnamon Co., Ltd. company profile]
Company name: Cinnamon Co., Ltd.
URL:http://127.0.0.6
Address: 6th floor, Spirit Building, 3-19-13 Toranomon, Minato-ku, Tokyo
Established: October 2016
Representative: Mirai Hirano, Representative Director, President and CEO

Cinnamon AI is actively recruiting.
Please see here for detailed job openings.
https://cinnamon.ai/new-cinnamon/recruit/

■Business content: Artificial intelligence product business, artificial intelligence consulting business
Cinnamon AI provides AI consulting and AI products to realize advanced business AI solutions with the purpose of ``Together with AI, we will create a world full of creativity where everyone can envision a new future.'' We have a track record of providing services to many major domestic companies as a sherpa (leader) of change that creates new business structures for the AI era from the knowledge held by customers and leads to dramatic growth. We have established artificial intelligence laboratories in Vietnam (Hanoi and Ho Chi Minh City) and Taiwan, and have built an ecosystem to acquire and develop advanced AI human resources.We have established AI-OCR "Flax Scanner", natural language processing engine "Aurora Clipper", and voice recognition. We have accumulated technological capabilities that cover a wide range of unstructured data, such as the engine "Rossa Voice." Most recently, we have been supporting the promotion of digital transformation and AI utilization by connecting our unique AI-era strategic design "Harvest Loop" with our customers' purpose.