South KoreaFinance and insurance2025 – ongoingHyundai Marine & Fire Insurance
2Q-PASS automated insurance underwriting
Hyundai Marine & Fire Insurance reported automatic screening of 52.3% of contracts by the end of 2025
Problem
Insurance applications required underwriting before contracts could be concluded. Hyundai sought to remove manual review for eligible customers with limited medical histories.
Approach
Hyundai analyzed historical underwriting data with machine learning to identify eligible customer groups. It began rolling out 2Q-PASS through face-to-face sales channels in April 2025. Eligible customers could conclude contracts without an underwriter's intervention.
Results
Takeaway
Eligibility selection defined which customers could bypass manual underwriting. The reported coverage did not measure decision accuracy.
Categories
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Built in-house
- Evidence
- Company's own claim
Sources
Source summaries
Herald Economy described machine-learning selection of customers for automatic underwriting. It reported rollout from April 17, 2025, initially covering specified insurance products.
Edaily reported Hyundai's 52.3% automatic-screening share at year-end 2025. It attributed the figure to the insurer.
Full details are in the original sources.