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Briefing
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- Insurance Jobs Displacement – Japanese insurance company Fukoku Mutual Life Insurance is replacing 34 employees with IBM’s Watson Explorer AI
- Automated Insurance Payouts Calculator – Reads medical certificates and factors in hospital stays, medical histories, and surgical procedures to accurately calculate payouts to policyholders in less time
- Productivity and ROI Increase – Expects productivity to increase 30% and sees return on investment in less than two years, with savings of ¥140 million ($1.24 million) annually
- 2035 Automation Forecast – 2015 report by Nomura Research Institute asserts that nearly half of all jobs in Japan could be performed by robots by 2035
- Other Companies – Dai-ichi Life Insurance also uses Watson to assess payments, while Japan Post Insurance is interested in leveraging similar technology
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Accelerator
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Market Disruption
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Business Model and Practices
Business Model
and Practices
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Sector
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Financial Services, Information Technology
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Organization
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Dai-ichi Life Insurance Co. Ltd., Fukoku Mutual Life Insurance, International Business Machines Corp., Japan Post Insurance Co. Ltd.
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Source
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Original Publication Date
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January 5, 2017
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