SEOUL, Nov. 6 (UPI) -- South Korea's Meritz Fire & Marine Insurance has joined with the country's telecom operator, KT, to develop artificial intelligence-based models tailored for the insurance industry.
Meritz Fire said Thursday that the two corporations signed an agreement to do so at a KT office in central Seoul.
Under the partnership, they are to conduct joint research on AI systems for automated claims and medical record reviews, as well as data analysis.
Building on its experience in developing dedicated AI models for the financial sector, KT promised to provide key resources, including its Korean-language recognition program and an optical character recognition solution.
Meritz Fire will contribute structured and unstructured data related to finance and insurance. The Seoul-based insurer also aims to enhance the capabilities of its AI-based claims system and the quality of customer service.
