In recent years, China Re Life has been providing primary insurance companies and the industry with data analysis services, including distinctive services such as insurance customer user profile data analysis, insurance product experience analysis, claim settlement reason analysis and risk prediction model. The Company also attaches great importance to continuously upgrading its data analysis technologies. The Company adopts claim settlement text mining model powered by artificial intelligence technologies, which enables data cleaning for data fields in claim settlement data to improve data analysis efficiency. Based on expanding data coverage, the Company is also committed to further adopting complex and diversified statistical technologies to carry out an in-depth analysis of mortality and morbidity rates and making steady progress towards big data analysis.
The intelligent underwriting engine system of China Re Life (“Intelligent UW”) is self-developed by China Re Life and the first full-process intelligent underwriting system in Chinese, representing the risk management idea of reinsurance. The Intelligent UW filled the industry gap in the PRC and acquired “Computer Software Copyright Certificate” officially issued by the National Copyright Administration in December 2017.
Intelligent UW Cloud Solutions: Awarded “2017 China Re Group Innovation Project Incentive Award”
Research and development project of intelligent underwriting engine system of China Re Life: Awarded “2017 China Insurance Industry Information Technology Outstanding Project Award”
Million Medical Cloud Solutions of China Re Life: Awarded “2018 China Financial Technology Innovation List — Excellent Case of Financial Technology Innovative Application Award”
China Re Life’s electronic underwriting manual system is a comprehensive underwriting manual system including medical, financial, sports, occupation, laboratory and residential and tourist destinations sections, which has a classification and rating list for each section and provides financial underwriting guidelines and rating calculators such as BMI, blood pressure, blood lipids and lung function. In addition, the system is also featured with information inquiry, insured data collection, data transmission and full search. Such system provides authoritative underwriting assessment standards for various direct life insurance companies, fills the gap in the assessment of underwriting risk of the insurance/reinsurance industry in the PRC, and is a leading risk assessment system in the industry of China.