Kathmandu. South Korea plans to expand the use of artificial intelligence (AI) in various activities related to life insurance. The Korea Life Insurance Association (KLIA) plans to implement 17 AI projects by 2027. <\/p>\n
Currently, three AI systems have been launched in Korea to handle customer complaints, check insurance advertisements, and search for company regulations. The complaint-handling AI will instantly convert phone conversations with customers into texts. It will then identify the type of complaint and provide relevant information and possible feedback to the relevant staff. <\/p>\n
However, it is still unclear whether KLIA, the technology provider or the employee concerned will be responsible if the AI misidentifies the complaint or provides inaccurate information. <\/p>\n
AI is also being used to check insurance ads. It will first check whether the ad complies with the KLIA rules. However, the final decision will remain with the relevant authorities. It is not clear what the AI will actually detect \u2013 such as misleading information, exaggerated claims or leaving important information in the advertisement. <\/p>\n
Another AI system will provide relevant information and the legal basis for KLIA’s 136 regulations. There are plans to use AI to generate insurance representative registration exam questions, investigate legal issues and contracts, translate foreign documents, and verify data. <\/p>\n
KLIA has been training and experimenting with AI since 2024. The aim is to save time and speed up customer service. However, it is unclear whether Project 17 refers to the use of AI in 17 different software or 17 different tasks. The amount of funding for these projects and which companies will provide the technology is not disclosed. <\/p>\n
Not all projects will have a direct impact on customers. Some measures, such as complaint management, will be used for customer service. KLIA will also use these for its own purposes, such as investigating regulations or reviewing documents. <\/p>\n
Customer phone calls may contain personal, insurance and financial information. No details have been provided about what part of this information will be stored, how long it will be stored, whether it will be used to train the AI, or whether other companies will be able to access it. It’s also unclear what action will be taken if the information leaks or whether AI-assisted decisions can be reverified by humans. <\/p>\n
It’s unclear whether the risks to each AI system will be assessed individually, and whether regulators will independently audit them. <\/p>\n
Meanwhile, Samsung Life, Hanhua Life, and Kyobo Life are also expanding the use of AI in their operations. This highlights the differences in the use of AI by life insurance companies large and small. However, there is no specific comparative information about the extent of this difference. <\/p>\n
However, with 17 projects set to be implemented by 2027, it’s also important to evaluate how effectively and securely they can be used. The success of this initiative will depend on how well AI works, how secure customer information is, who is responsible for errors, and whether people have control over the final decision. \u2014 Agency<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. South Korea plans to expand the use of artificial intelligence (AI) in various activities related to life insurance. The Korea Life Insurance Association (KLIA) plans to implement 17 AI projects by 2027. Currently, three AI systems have been launched in Korea to handle customer complaints, check insurance advertisements, and search for company regulations. The […]<\/p>\n","protected":false},"author":16,"featured_media":225675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45044,45159],"tags":[],"class_list":["post-317102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317102","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=317102"}],"version-history":[{"count":1,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317102\/revisions"}],"predecessor-version":[{"id":317103,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/317102\/revisions\/317103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/225675"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=317102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=317102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=317102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}