South KoreaFinance and insurance2024 – ongoingMetLife Insurance Korea
AI document recognition for small insurance claims
MetLife Korea said AI document recognition enabled simple claims without hospitalization to be paid within 5 minutes
Problem
Insurance claims required medical documents to be read before payment. Free-text diagnoses and physician statements added information that the processing system needed to recognize.
Approach
MetLife Korea introduced AI-based optical character recognition within its claims assessment and payment process. The system recognized natural-language content in medical certificates and physician statements. The insurer said simple claims without hospitalization could be paid within 5 minutes.
Results
Takeaway
The payment-time claim applied to simple claims without hospitalization. Extending automatic payment to 30% of all claims remained a target.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Production and qualityCustomer service
- Innovation type
- Process innovation
- AI technology
- Computer vision
- Adoption
- Vendor solution
- Evidence
- Company's own claim
Sources
Source summaries
Financial News reported MetLife Korea's introduction of AI OCR for claims processing. The insurer said simple non-hospitalization claims could be paid within 5 minutes; 30% automatic-payment coverage was a future target.
Full details are in the original sources.
