[Korea gimmingyeong financial newspaper reporter] ING Life is the 'consideration and Utilization of Big Data Analytics for insurance companies introduced' at the Seoul Youth Hostel, located in Jung-gu, Seoul 15 days held a conference on the subject.
This presentation was prepared for ING life is organized to share the main results of the "Life Insurance Big Data strategy development and diffusion model 'project involved the Life Insurance Association.
The day digit life insurance industry, as well as liability insurance, over 80 people attended, including IT-related technology companies showed interest in the hot new initiatives in the insurance industry to prepare for the fourth industrial revolution.
"Life insurance Big Data strategy development and diffusion model 'business and future creation Sciences, was organized as part of the year 2016 leverage Big Data Smart Services Pilot Project" sponsored by the Korea Information Society Agency beginning in June.
ING Life has developed a big data analysis strategy model based on the end of last year the insurance industry Value Chain (Value Chain). Through machine learning, deep learning, reinforcement learning, including big data analysis for the overall insurance business to take advantage of the latest big data analysis techniques to the customer service-related follow-up was derived from the real business advantage and Improvement.
The main results of the insurance contract effective predictive analytics, customer micro-segmentation, product recommendation analysis, FC (architect) early settlement analysis, diagnostic / suitability of predictive analytics, insurance cancellation, predictive analytics, new business contracts departure predictive analytics, fraud, predictive analytics, Customer complaints are used as predictive analytics.
ING Life has also built 'speech recognition models (STT engine), to take advantage of the development strategy model. Speech recognition models to which enables to switch the voice data into text, this current syllables recognition rate more than 83%. Therefore, it is possible unstructured data such as call center consulting recording files more effectively to collect as structured data.
ING Life today announced a strategic model development time are expected to contribute to increasing the value of the insurance business. By taking advantage of the strategic model that would analyze the causes and patterns of customer churn to respond to customer reaction to a pre-established procedures to respond preemptively. It observed an integrated, customer consultation and improvement premiums paid state services and can also serve as a way to protect multiple contractors.
In addition, it said that by increasing the jeongchakryul a comprehensive analysis of the properties of newcomers FC (financial consultant) can be applied to build a foundation that can provide reliable insurance services to its customers.
Yigiheung ING Life Vice President of "big data strategy model for your interest in the insurer practical work in reference to use Lets try it," said "this project through derive the results insurance industry's competitiveness and strengthening of having paved a hope hope," he He said.
Details of the analysis of business ING Life can be viewed by anyone on its website.
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