Lomin (CEO Ji-Hong Kang), a document AI specialized company, announced on the 25th that it has completed the construction of an AI OCR system for receiving retirement pension claims for Kyobo Life Insurance.
Romin has built a system that automatically classifies standard and non-standard formats, such as Kyobo Life Insurance's ▲Defined Benefit (DB) Retirement Benefit Claim Form ▲Retirement Income Withholding Tax Receipt ▲Defined Contribution (DC) Retirement Benefit Application Form, and automates claim reception by recognizing and extracting key information.
Kyobo Life Insurance evaluated that the introduction of this AI OCR system improved work efficiency and customer service quality. This is the second collaboration between the two companies, and was promoted based on the performance of the previous accident insurance claim AI OCR project. In the previous project, Romin reduced the time from insurance claim to payment to the industry's highest level according to the Life Insurance Association's disclosure in the first half of 2023.
Romin's document AI platform Textscope® Studio provides AI OCR technology specialized for financial work. This platform is capable of recognizing various character forms such as printed and typewritten characters and images, and provides comprehensive AI technology required for document work processing and automation, including document parsing, document understanding, and document AI model learning (MLOps).
Romin Kang Ji-hong, CEO, said, “I am delighted to have been able to achieve meaningful results through collaboration with Kyobo Life Insurance,” and “We will continue to expand the construction of an automated document processing system based on our leading document AI technology.”
Meanwhile, Romin is currently working with Mirae Asset Securities on the largest-scale AI OCR system construction project in Korea. This project targets various forms related to retirement pensions, such as retirement pension withholding receipts, and other business forms as part of the retirement pension tax deferral work.
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