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Japanese #insurer replaces staff with #Artifical Intelligence #Ai #future is coming.

By 1st September 2017No Comments
Human workers at Fukoku Mutual Life Insurance are set to be replaced by an artificial intelligence (AI) that can calculate pay-outs to policyholders, according to reports.
Some 34 members of staff are likely to made redundant by March 2017 by the insurer, headquartered in Tokyo.

Japanese newspaper The Mainichi said that the insurance firm will introduce an AI system based on IBM Japan Ltd.’s Watson, which according to IBM is a “cognitive technology that can think like a human,” and “can analyse and interpret all of your data, including unstructured text, images, audio and video.”

The system will analyse medical certificates written by doctors and other documents to collect information necessary for making pay-outs.

The system will also be able to check customers’ cases against their insurance contracts to find any special coverage clauses.

Fukoku Mutual Life Insurance provides insurance and annuity products to individuals and companies. It focuses on selling products in the areas of nursing care and medical insurance.  

The company also offers physical disability products, individual life insurance, individual annuities, group insurance, and healthcare insurance products. 

Article is care of cover magazine and can be found here

Tim Kelly

Tim is a highly qualified Independent Engineer with over 20 years experience as an Engineering Assessor of damaged vehicles.

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