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The Artificial Intelligence Research Institute announced on the 27th that it has decided to jointly develop an insurtech technology with INNORULES to expand the artificial intelligence RPA(Robotic Process Automation) business.
Insurtech is a compound word for insurance and technology. It refers to a service that innovates the existing insurance industry using technologies such as big data analysis, artificial intelligence, and the Internet of Things.
INNORULES, joined by Artificial Intelligence Research Institute, is an insurtech company with the largest share of the DPM (Digital Product Information Management System) market.
Through this cooperation with INNORULES, AIRI expects to develop a service that supports product design inside insurance companies and provides services to insurance companies, solicitors, and insurance consumers along with the previously launched insurance fitting services.
In December last year, AIRI launched an insurance fitting app for insurance solicitors and insurance consumers. This service does not stop at customer insurance contract inquiries and analysis of existing insurance and also provides accessible insurance design functions for more than 20 insurance products from 10 insurance companies.
Kim Young-hwan, the CEO of AIRI, said, "INNORULES has many of the country's leading insurance companies as customers, and AIRI aims to become an AI insurtech company. A joint effort of two companies will create an opportunity to promote digital transformation and innovation in the insurance industry."