Kyobo Life Insurance rolls out AI-based underwriting system

Kyobo Life Insurance announced on October 30 that its AI-based underwriting system, known as Best Analysis and Rapid Outcome (BARO), is now fully operational. The system, according to a Korea Times report, provides real-time services to the insurer’s sales consultants and customers. Combined with its underwriting manual, BARO facilitates the online underwriting process, through instant communication with sales consultants. Meanwhile, the insurer’s underwriters will focus more on assessing higher-risk, higher-stakes insurance contracts.

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