Korean insurtech company Finders, creator of the Boinda platform, has entered into a memorandum of understanding with AI start-up Dnotitia to apply AI technologies to the insurance sector.
Set up in 2019, Finders leverages AI-driven analytics to improve agent-client matching and simplify the insurance purchasing process.
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Under the partnership, both entities will integrate small large language model and retrieval-augmented generation technologies to boost the accuracy of insurance data analysis.
This collaboration is expected to refine risk evaluation and underwriting processes for insurers by utilising AI-optimised models and leveraging insurance distribution and sales data.
Dnotitia’s foundational AI model, ‘DNA’, is designed for the Korean market’s “linguistic nuances” and the complexities inherent in local insurance portfolios.
Having secured top scores in the Korean-language large language model “benchmark”, the DNA model is said to provide precise insurance information, facilitating customised policy recommendations.
Moreover, it is designed to enable analysis and application of insurance-related data to enhance risk assessment and coverage recommendations, thereby maximising operational efficiency.
Dnotitia CEO Moo-Kyoung (MK) Chung said: “The complexity of policies and countless number of options often make it difficult for consumers to choose the right coverage. By integrating advanced LLM technologies, we aim not only to boost insurers’ efficiency but also to provide customers with greater clarity and personalisation. Through this partnership, we will further refine AI’s real-world applications across diverse sectors, ensuring it consistently delivers tangible value.”
Finders CEO Sang-Il Yoon stated: “AI adoption in the insurance industry is accelerating, highlighting the critical need to foster trust and improve consumers convenience. By partnering with Dnotitia, we will refine our ‘AI Planner’ solution, address negative perceptions about insurance and drive transformation of the insurance sales market – ensuring consumers can make coverage decisions with confidence.”
