“Pet insurance” whose number of users is increasing. AI makes the payment assessment process more efficient.

  We have begun full-scale provision of AI-OCR to streamline insurance appraisal operations for pet insurance products of SBI Ikiiki Small Amount Short-Term Insurance Co., Ltd., a group company of SBI Insurance Group Co., Ltd. listed on the TSE Growth Market. By introducing AI-OCR developed by our company, we will improve the efficiency of benefit claim procedures and payment operations, and significantly reduce the cost of entry into core systems.

Image of AI-OCR implementation in pet payment assessment

SBI Ikiiki Shota's pet insurance products are popular for their high level of convenience, such as the ability to complete the procedure on a smartphone app instead of the traditional hassle of filing insurance claims by mail. On the other hand, in pet medical care, which is a free medical treatment, the format of receipts and medical statements differs depending on the veterinary hospital, and improving the efficiency of data entry into the core system has become an issue.

Cinnamon AI has collaborated with SBI Ikiiki Shoken to develop AI-OCR that can read medical bills issued by a wide variety of veterinary hospitals with high precision without the need for individual annotations. Cinnamon AI's AI-OCR is compatible with a wide range of formats (non-standard forms) and can read both printed and handwritten text*, with an average accuracy of 96.67%* per character and an average accuracy of 92.87%* per item. It has achieved reading accuracy and contributed as a solution to improve business efficiency.

   Cinnamon AI will continue to promote DX of domestic companies with advanced IDP technology (automatic knowledge extraction technology from unstructured data) using AI-OCR and various AI solutions.

*Cinnamon AI test data value. AI-OCR verification results of sample forms according to the actual usage ratio of printed and handwritten documents.

■Cinnamon AI's IDP technology (IDP = Intelligent Document Processing)
 A technology that structures unstructured data such as text, audio, and images, and extracts and organizes meaningful information (knowledge) from it. By utilizing the knowledge of each company, we will realize functions that are even more unique and individualized.

*Cinnamon AI has particular strengths in this technology, and received the Best Paper Award at the global conference ICDAR2021 (International Conference on Document Analysis and Recognition).
paper:https://arxiv.org/pdf/2106.00952.pdf

■Company overview

Company name: SBI Ikiiki Small Amount Short Term Insurance Co., Ltd.
Location: 1-6-1 Roppongi, Minato-ku, Tokyo
Date of establishment: July 3, 2007
Capital: 36,000,000 yen
Business content: Small amount and short term insurance business

Company introduction: SBI Ikiiki Small Amount and Short Term Insurance Co., Ltd. is a group company of SBI Insurance Group Co., Ltd., which is listed on the Tokyo Stock Exchange Growth Market.
We develop and provide insurance products that meet the needs of our customers: ``Simple and easy to understand'' and ``Affordable insurance premiums.'' Death and medical insurance are widely supported by seniors, and pet insurance is widely supported by owners who are concerned about their dogs and cats getting sick or injured. We support your daily life with earthquake compensation insurance in case of an earthquake.
URL: https://www.i-sedai.com