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Samsung Life introduces AI-based optical character recognition system

Collected: 2023.10.24

Distributed: 2023.10.25

Source: Go Direct

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[Courtesy of Samsung Life Insurance]

Samsung Life Insurance on Tuesday announced the successful implementation of its artificial intelligence-powered Optical Character Recognition (AI OCR) system. This is in response to the growing trend of non-standard documents received for insurance claims via mobile and online platforms, where traditional OCR methods fell short in automating data input and improving service quality.

The challenge arose from the fact that documents submitted directly by customers via photos, which often vary in format, quality, and the positioning of relevant information. This variability necessitated manual intervention for data extraction, limiting the effectiveness of conventional OCR techniques.

In collaboration with AI experts at Upstage, Samsung Life Insurance significantly enhanced its OCR capabilities, expanding the range of documents that can be accurately recognized. The accuracy and speed of data analysis has also improved, according to the company.

The system classifies a wide array of insurance-related documents into 47 distinct categories, enabling the automated extraction and input of data from seven key document types, including medical expense receipts and prescription receipts.

The insurer said the system now enables swift claim processing, even when claim requests surge, by automating the entire process from data entry to evaluation and claim payout.

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