AI Case Study
Ping An Insurance improves client authentication efficiency by using face and voice recognition
Ping An Insurance has developed an AI-powered product for insurers that uses voice and facial recognition to authenticate clients, and will be making the product available to other insurers.
Ping An's intelligent authentication system "adopted face and voiceprint recognition to establish biological files for every client with the company. By using the technology, the identity and behaviors of insurance applicants or agents can be quickly verified, thus helping avoid possible disputes in selling, according to the company".
Ping An "forecasts that the policy surrender rate would drop to 1.4%, compared to the industry average of 4%. According to company estimates, policy enrolment time will be reduced by 30 times, audio and video recording times decrease by 75%, while the quality control success rate increases by 65%."
The intelligence platform is available on the Ping An Smart Insurance Cloud
China's major listed insurer, Ping An Insurance, released its core intelligent technologies for the first time Wednesday to show how they can improve operation efficiency.