Tongyang Life and ABL Life have started building generative AI platforms as Woori Financial Group pushes AI transformation across affiliates.
/ Tongyang Life, ABL Life
According to the Tongyang Life, the two insurers issued bids on April 6 for generative AI platform projects. Both aim to complete the platforms within this year.
Tongyang Life plans to build an “AI Playground” that allows employees to create work-specific AI tools using data and prompts. The project is designed to let non-technical staff use AI through a graphical interface.
It also includes a Q&A service for consultation work, with knowledge search and response functions for key tasks. The scope also covers AI-based coverage analysis and policy analysis scripts using work-support agents.
ABL Life is expected to focus on building the infrastructure needed for generative AI and large language models, or LLMs.
The company plans data preprocessing work so AI can use policy terms, internal documents and other materials in a structured format. It also plans to apply retrieval-augmented generation, or RAG, so the system retrieves relevant information from internal rules and databases before generating responses. ABL Life also aims to build a business API environment and an agent management system so the platform can connect with internal systems.
The projects appear to reflect Woori Financial’s group-wide AI push.
Woori Financial is drawing up AX master plans for each subsidiary and building an execution framework at the group level. Since last year, Chairman Yim Jong-yong has chaired a bimonthly AX Promotion Committee meeting with heads of key affiliates.
Given differences in investment capacity, organizational size and AI readiness across affiliates, the two insurers appear to have taken different approaches. Tongyang Life is focusing on tools for business use, while ABL Life is focusing on infrastructure.
At a group strategy workshop in January, Yim said Woori Financial should adopt the mindset that “we are an AI company” and expand AI-led management across the group.
Tongyang Life is also upgrading its AI contact center and its automated underwriting system based on the Claims Risk Detection System, or CRDS. In February, Chief Executive Sung Dae-kyu said the company would establish a group-wide AX control tower. The insurer placed its AI and data team under the head of customer IT and appointed Han Sang-wook, formerly of Shinhan Life, to lead the effort.
ABL Life, led by Chief Executive Kwak Hee-pil, has also moved ahead with follow-up AI projects after setting out a data platform and AI roadmap last year. It recently recruited Park Min-kyung to lead its Digital IT Division and advance projects including AI recommendation services and an AI performance management system. The work includes recommending products through a sales support system for financial consultants and monitoring live AI models for performance declines.
A Tongyang Life official said the generative AI platform project was the first step in improving internal work efficiency and building a base for long-term growth.
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